Sunnova Energy International Inc. (NYSE:NOVA) Receives $14.80 Average Target Price from Brokerages

Sunnova Energy International Inc. (NYSE:NOVA) has received a consensus rating of “Moderate Buy” from the twenty-three analysts that are presently covering the company, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $14.52.

NOVA has been the subject of a number of research reports. Royal Bank of Canada increased their target price on Sunnova Energy International from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Wells Fargo & Company increased their price target on Sunnova Energy International from $6.00 to $9.00 and gave the company an “equal weight” rating in a report on Tuesday, August 6th. Truist Financial increased their price target on Sunnova Energy International from $9.00 to $10.00 and gave the company a “buy” rating in a report on Monday, July 29th. The Goldman Sachs Group increased their price target on Sunnova Energy International from $10.00 to $13.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Piper Sandler increased their price target on Sunnova Energy International from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Monday, August 12th.

Insider Activity

In related news, insider William J. Berger sold 77,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $11.31, for a total transaction of $870,870.00. Following the sale, the insider now owns 409,045 shares of the company’s stock, valued at $4,626,298.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 stock. Peoples Bank KS acquired a new stake in Sunnova Energy International in the second quarter worth about $56,000. Caxton Associates LP purchased a new position in shares of Sunnova Energy International in the first quarter worth about $62,000. First Trust Direct Indexing L.P. purchased a new position in shares of Sunnova Energy International in the first quarter worth about $66,000. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Sunnova Energy International by 129.9% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,788 shares of the company’s stock worth $72,000 after purchasing an additional 6,661 shares during the last quarter. Finally, Presidio Capital Management LLC purchased a new position in shares of Sunnova Energy International in the second quarter worth about $67,000.

Sunnova Energy International Stock Down 5.0 %

NYSE NOVA opened at $7.44 on Thursday. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $922.43 million, a P/E ratio of -2.21 and a beta of 2.21. Sunnova Energy International has a one year low of $3.37 and a one year high of $16.35. The stock has a 50 day moving average price of $9.61 and a 200-day moving average price of $6.76.

Sunnova Energy International (NYSE:NOVA) last posted its earnings results on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.27. The firm had revenue of $219.60 million during the quarter, compared to the consensus estimate of $220.38 million. Sunnova Energy International had a negative return on equity of 8.85% and a negative net margin of 45.76%. The company’s quarterly revenue was up 32.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.74) EPS. As a group, equities analysts predict that Sunnova Energy International will post -1.8 EPS for the current fiscal year.

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.