Sunnova Energy International Inc. (NYSE:NOVA) Receives $10.89 Average PT from Analysts

Sunnova Energy International Inc. (NYSE:NOVA) has earned a consensus rating of “Moderate Buy” from the twenty-three ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $10.73.

Several research analysts have commented on NOVA shares. The Goldman Sachs Group lifted their price target 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. Piper Sandler decreased their target price on shares of Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating on the stock in a research report on Friday, November 22nd. Barclays lowered their price target on shares of Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Citigroup reduced their price objective on Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Finally, Wolfe Research lowered Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th.

Insiders Place Their Bets

In other Sunnova Energy International news, CFO Eric Michael Williams purchased 13,800 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was bought at an average cost 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 in the company, valued at approximately $49,680. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Akbar Mohamed acquired 54,717 shares of the company’s 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 purchase, the director now directly owns 302,654 shares of the company’s stock, 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. In the last quarter, insiders have bought 118,517 shares of company stock worth $439,605. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Sunnova Energy International

Several large investors have recently made changes to their positions in NOVA. Peoples Bank KS bought a new position in Sunnova Energy International during the 2nd quarter valued at approximately $56,000. Caxton Associates LP purchased a new stake in shares of Sunnova Energy International in the first quarter worth $62,000. Presidio Capital Management LLC bought a new position in shares of Sunnova Energy International during the second quarter valued at $67,000. nVerses Capital LLC raised its position in shares of Sunnova Energy International by 237.8% in the 2nd quarter. nVerses Capital LLC now owns 12,500 shares of the company’s stock worth $70,000 after purchasing an additional 8,800 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new position in Sunnova Energy International in the 2nd quarter worth about $78,000.

Sunnova Energy International Stock Up 1.3 %

Shares of NYSE:NOVA opened at $5.41 on Friday. The firm has a market capitalization of $676.00 million, a PE ratio of -1.61 and a beta of 2.26. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86. Sunnova Energy International has a 52-week low of $2.99 and a 52-week high of $16.35. The firm has a fifty day moving average of $6.14 and a 200 day moving average of $6.91.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings data 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). The firm had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $238.23 million. Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. Sunnova Energy International’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.53) earnings per share. As a group, research analysts anticipate that Sunnova Energy International will post -2.37 EPS for the current fiscal 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.