Sunnova Energy International Inc. (NYSE:NOVA) Receives $12.11 Consensus PT from Analysts

Shares of Sunnova Energy International Inc. (NYSE:NOVA) have received a consensus recommendation of “Moderate Buy” from the twenty-one ratings firms that are currently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $11.61.

A number of research firms have issued reports on NOVA. Scotiabank lifted their price objective on Sunnova Energy International from $10.00 to $14.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Sunnova Energy International from $9.00 to $6.25 and set a “hold” rating for the company in a research report on Friday. Citigroup lowered their price target on Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. The Goldman Sachs Group lifted their target price on shares of Sunnova Energy International from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Guggenheim lifted their price target on shares of Sunnova Energy International from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, July 26th.

Insider Activity

In other Sunnova Energy International news, insider William J. Berger sold 77,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $11.31, for a total value of $870,870.00. Following the completion of the transaction, the insider now owns 409,045 shares in the company, valued at $4,626,298.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NOVA. First Trust Direct Indexing L.P. grew its position in Sunnova Energy International by 11.6% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 19,373 shares of the company’s stock valued at $189,000 after buying an additional 2,016 shares in the last quarter. PFG Investments LLC acquired a new position in shares of Sunnova Energy International in the 3rd quarter valued at $130,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Sunnova Energy International in the 3rd quarter worth about $260,000. Ballentine Partners LLC raised its holdings in Sunnova Energy International by 15.9% during the 3rd quarter. Ballentine Partners LLC now owns 21,515 shares of the company’s stock worth $210,000 after buying an additional 2,956 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in Sunnova Energy International by 37,400.0% during the third quarter. International Assets Investment Management LLC now owns 3,000 shares of the company’s stock valued at $308,000 after buying an additional 2,992 shares in the last quarter.

Sunnova Energy International Price Performance

Shares of NYSE NOVA opened at $5.72 on Monday. Sunnova Energy International has a 1 year low of $3.37 and a 1 year high of $16.35. The stock has a market capitalization of $714.20 million, a P/E ratio of -1.71 and a beta of 2.21. The company’s 50-day moving average is $8.69 and its 200 day moving average is $6.86. The company has a debt-to-equity ratio of 3.11, a current ratio of 0.97 and a quick ratio of 0.97.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.45). The business had revenue of $235.30 million during the quarter, compared to the consensus estimate of $238.23 million. Sunnova Energy International had a negative return on equity of 11.46% and a negative net margin of 51.02%. Sunnova Energy International’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.53) earnings per share. On average, sell-side analysts expect that Sunnova Energy International will post -1.99 earnings per share for the current year.

Sunnova Energy International Company Profile

Sunnova Energy International Inc engages in the provision of energy as a service in the United States. The company offers electricity, as well as offers operations and maintenance, monitoring, repairs and replacements, equipment upgrades, on-site power optimization, and solar energy system and energy storage system diagnostics services.