Sunnova Energy International Inc. (NYSE:NOVA) Receives $15.73 Consensus Target Price from Brokerages

Shares of Sunnova Energy International Inc. (NYSE:NOVA) have received an average recommendation of “Moderate Buy” from the twenty-five brokerages that are currently covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $15.73.

Several analysts have issued reports on the stock. Robert W. Baird dropped their price target on shares of Sunnova Energy International from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $6.00 target price (down from $11.00) on shares of Sunnova Energy International in a report on Friday, April 19th. Morgan Stanley reduced their price target on Sunnova Energy International from $14.00 to $10.00 and set an “equal weight” rating for the company in a report on Friday, June 14th. Piper Sandler lowered Sunnova Energy International from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $9.00 to $4.50 in a research note on Tuesday, May 21st. Finally, KeyCorp downgraded Sunnova Energy International from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, April 23rd.

Sunnova Energy International Trading Down 14.3 %

Sunnova Energy International stock opened at $5.58 on Tuesday. The company has a market cap of $691.81 million, a price-to-earnings ratio of -1.66 and a beta of 2.19. The firm has a 50-day moving average of $4.80 and a 200-day moving average of $7.65. The company has a debt-to-equity ratio of 3.41, a current ratio of 0.74 and a quick ratio of 0.74. Sunnova Energy International has a one year low of $3.37 and a one year high of $24.56.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.57) earnings per share for the quarter, topping the consensus estimate of ($0.79) by $0.22. The firm had revenue of $160.90 million for the quarter, compared to analyst estimates of $193.78 million. Sunnova Energy International had a negative return on equity of 12.10% and a negative net margin of 56.52%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.70) EPS. On average, equities analysts expect that Sunnova Energy International will post -1.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Electron Capital Partners LLC grew its stake in Sunnova Energy International by 42.9% during the third quarter. Electron Capital Partners LLC now owns 5,308,684 shares of the company’s stock worth $55,582,000 after buying an additional 1,593,098 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Sunnova Energy International by 124.4% during the 4th quarter. Van ECK Associates Corp now owns 1,563,320 shares of the company’s stock worth $23,841,000 after acquiring an additional 866,705 shares in the last quarter. Banque Pictet & Cie SA bought a new position in Sunnova Energy International in the third quarter valued at approximately $6,906,000. Westwood Holdings Group Inc. raised its position in Sunnova Energy International by 3,168.8% during the first quarter. Westwood Holdings Group Inc. now owns 574,127 shares of the company’s stock valued at $3,519,000 after purchasing an additional 556,563 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in Sunnova Energy International during the fourth quarter worth $6,930,000.

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.