Sunnova Energy International Inc. (NYSE:NOVA) Receives $9.60 Consensus Target Price from Brokerages

Shares of Sunnova Energy International Inc. (NYSE:NOVA) have received a consensus rating of “Hold” from the twenty-five research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $9.03.

NOVA has been the subject of a number of recent research reports. Robert W. Baird lowered their price objective on Sunnova Energy International from $12.00 to $9.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Wolfe Research cut Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Guggenheim cut Sunnova Energy International from a “buy” rating to a “neutral” rating in a research note on Thursday, November 7th. TD Cowen began coverage on Sunnova Energy International in a report on Thursday, December 19th. They issued a “hold” rating and a $5.00 target price for the company. Finally, Jefferies Financial Group lowered Sunnova Energy International from a “buy” rating to a “hold” rating and reduced their target price for the stock from $9.00 to $2.00 in a report on Friday.

Sunnova Energy International Stock Down 9.6 %

Shares of NYSE:NOVA opened at $2.23 on Wednesday. The stock has a fifty day simple moving average of $3.65 and a two-hundred day simple moving average of $6.27. The stock has a market capitalization of $278.02 million, a price-to-earnings ratio of -0.66 and a beta of 2.28. Sunnova Energy International has a 12-month low of $2.21 and a 12-month high of $13.00. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26.

Insider Activity at Sunnova Energy International

In related news, CFO Eric Michael Williams bought 13,800 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were bought at an average cost of $3.60 per share, for a total transaction of $49,680.00. Following the completion of the transaction, the chief financial officer now owns 13,800 shares of the company’s stock, valued at approximately $49,680. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Akbar Mohamed bought 54,717 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average price 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 of the company’s stock, valued at $1,150,085.20. This represents a 22.07 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 118,517 shares of company stock worth $439,605. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Sunnova Energy International

Large investors have recently made changes to their positions in the business. International Assets Investment Management LLC lifted its position in shares of Sunnova Energy International by 37,400.0% in the third quarter. International Assets Investment Management LLC now owns 3,000 shares of the company’s stock valued at $308,000 after acquiring an additional 2,992 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Sunnova Energy International by 736.3% in the third quarter. GAMMA Investing LLC now owns 8,756 shares of the company’s stock valued at $85,000 after acquiring an additional 7,709 shares in the last quarter. Creative Planning purchased a new position in shares of Sunnova Energy International in the third quarter valued at about $107,000. PFG Investments LLC purchased a new position in shares of Sunnova Energy International in the third quarter valued at about $130,000. Finally, Kempner Capital Management Inc. purchased a new position in shares of Sunnova Energy International in the fourth quarter valued at about $51,000.

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.