Sunnova Energy International Inc. (NYSE:NOVA) Receives $9.58 Consensus Target Price from Analysts

Shares of Sunnova Energy International Inc. (NYSE:NOVA) have received a consensus recommendation of “Hold” from the twenty-four brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $9.58.

Several equities analysts recently commented on NOVA shares. Citigroup cut their price target on shares of Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Susquehanna downgraded Sunnova Energy International from a “positive” rating to a “neutral” rating and reduced their price target for the stock from $14.00 to $4.50 in a report on Friday, January 10th. Guggenheim downgraded Sunnova Energy International from a “buy” rating to a “neutral” rating in a research report on Thursday, November 7th. Barclays reduced their target price on Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group lowered their target price on shares of Sunnova Energy International from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, December 17th.

Sunnova Energy International Stock Down 3.5 %

Shares of NYSE NOVA opened at $3.16 on Friday. Sunnova Energy International has a 1-year low of $2.99 and a 1-year high of $13.00. The business’s 50 day moving average is $4.06 and its two-hundred day moving average is $6.64. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.45). Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The company had revenue of $235.30 million during the quarter, compared to the consensus estimate of $238.23 million. During the same quarter in the prior year, the business earned ($0.53) earnings per share. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. As a group, analysts anticipate that Sunnova Energy International will post -2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Sunnova Energy International

In other Sunnova Energy International news, CFO Eric Michael Williams acquired 13,800 shares of the stock in a transaction dated Monday, November 18th. The stock was purchased at an average price of $3.60 per share, with a total value of $49,680.00. Following the transaction, the chief financial officer now directly owns 13,800 shares of the company’s stock, valued at $49,680. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Akbar Mohamed bought 54,717 shares of Sunnova Energy International stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average cost of $3.80 per share, for a total transaction of $207,924.60. Following the completion of the transaction, the director now directly owns 302,654 shares in the company, valued at $1,150,085.20. This represents a 22.07 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 118,517 shares of company stock worth $439,605 over the last quarter. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Sunnova Energy International

Institutional investors have recently added to or reduced their stakes in the business. First Trust Direct Indexing L.P. raised its position in shares of 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 purchasing an additional 2,016 shares during the last quarter. Ballentine Partners LLC raised its holdings in shares of Sunnova Energy International by 15.9% in the third 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 last quarter. International Assets Investment Management LLC lifted its stake in shares of 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 worth $308,000 after buying an additional 2,992 shares during the period. Peapack Gladstone Financial Corp grew its holdings in shares of Sunnova Energy International by 11.0% during the third quarter. Peapack Gladstone Financial Corp now owns 32,200 shares of the company’s stock valued at $314,000 after buying an additional 3,200 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Sunnova Energy International by 6.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,487 shares of the company’s stock valued at $315,000 after acquiring an additional 3,559 shares during the period.

About Sunnova Energy International

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.