Susquehanna Increases Sunnova Energy International (NYSE:NOVA) Price Target to $14.00

Sunnova Energy International (NYSE:NOVA) had its target price hoisted by Susquehanna from $12.00 to $14.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a positive rating on the stock.

A number of other equities research analysts also recently issued reports on NOVA. Piper Sandler downgraded Sunnova Energy International from an overweight rating to a neutral rating and reduced their price target for the stock from $9.00 to $4.50 in a research report on Tuesday, May 21st. Truist Financial raised their price target on Sunnova Energy International from $9.00 to $10.00 and gave the stock a buy rating in a research report on Monday, July 29th. B. Riley cut their price objective on shares of Sunnova Energy International from $21.00 to $15.00 and set a buy rating for the company in a research report on Monday, April 22nd. Barclays decreased their target price on shares of Sunnova Energy International from $18.00 to $12.00 and set an overweight rating on the stock in a report on Tuesday, July 23rd. Finally, Guggenheim upped their price target on shares of Sunnova Energy International from $7.00 to $10.00 and gave the stock a buy rating in a report on Friday, July 26th. Eight research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $14.84.

Sunnova Energy International Stock Performance

NYSE:NOVA traded down $0.46 during mid-day trading on Friday, hitting $7.25. 3,270,367 shares of the stock were exchanged, compared to its average volume of 8,465,164. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.74 and a current ratio of 0.74. The firm’s 50-day simple moving average is $6.20 and its 200 day simple moving average is $6.38. Sunnova Energy International has a fifty-two week low of $3.37 and a fifty-two week high of $16.78. The stock has a market capitalization of $898.87 million, a price-to-earnings ratio of -2.20 and a beta of 2.19.

Sunnova Energy International (NYSE:NOVA) last posted its earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.27. Sunnova Energy International had a negative return on equity of 9.28% and a negative net margin of 45.76%. The company had revenue of $219.60 million during the quarter, compared to the consensus estimate of $220.38 million. During the same quarter last year, the firm earned ($0.74) earnings per share. The company’s revenue was up 32.0% on a year-over-year basis. As a group, equities analysts anticipate that Sunnova Energy International will post -1.89 EPS for the current fiscal year.

Insider Transactions at Sunnova Energy International

In related news, insider William J. Berger 48,413 shares of Sunnova Energy International stock in a transaction dated Tuesday, July 30th. The was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.50% of the company’s stock.

Institutional Trading of Sunnova Energy International

Hedge funds have recently modified their holdings of the stock. Manchester Capital Management LLC grew its holdings in Sunnova Energy International by 2,959.7% in the fourth quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock worth $29,000 after purchasing an additional 1,835 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Sunnova Energy International during the 1st quarter worth approximately $25,000. Peoples Bank KS purchased a new stake in shares of Sunnova Energy International in the second quarter worth approximately $56,000. Caxton Associates LP purchased a new position in shares of Sunnova Energy International during the first quarter valued at approximately $62,000. Finally, Headlands Technologies LLC bought a new position in Sunnova Energy International during the 4th quarter valued at $157,000.

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.