Sunnova Energy International Inc. (NYSE:NOVA) Receives $9.58 Consensus PT from Brokerages

Sunnova Energy International Inc. (NYSE:NOVA) has been given a consensus recommendation of “Hold” by the twenty-four analysts that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $9.58.

Several equities research analysts have recently issued reports on the stock. Guggenheim downgraded shares of Sunnova Energy International from a “buy” rating to a “neutral” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lowered their target price on Sunnova Energy International from $9.00 to $6.25 and set a “hold” rating on the stock in a research report on Friday, November 1st. Susquehanna cut shares of Sunnova Energy International from a “positive” rating to a “neutral” rating and dropped their target price for the company from $14.00 to $4.50 in a report on Friday. TD Cowen began coverage on Sunnova Energy International in a report on Thursday, December 19th. They set a “hold” rating and a $5.00 price target for the company. Finally, Citigroup dropped their price objective on shares of Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd.

Sunnova Energy International Stock Down 2.9 %

Shares of NYSE:NOVA opened at $3.31 on Friday. Sunnova Energy International has a 12 month low of $2.99 and a 12 month high of $13.00. The firm has a market cap of $413.59 million, a P/E ratio of -0.99 and a beta of 2.29. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26. The company’s 50-day moving average price is $4.15 and its two-hundred day moving average price is $6.71.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.45). Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The firm had revenue of $235.30 million during the quarter, compared to the consensus estimate of $238.23 million. During the same quarter in the prior year, the business earned ($0.53) EPS. Sunnova Energy International’s revenue was up 18.6% on a year-over-year basis. As a group, research analysts forecast that Sunnova Energy International will post -2.44 EPS for the current fiscal year.

Insider Activity at Sunnova Energy International

In other news, Director Akbar Mohamed acquired 54,717 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was acquired at an average price of $3.80 per share, with a total value of $207,924.60. Following the completion of the purchase, the director now directly owns 302,654 shares in the company, valued at approximately $1,150,085.20. This trade represents a 22.07 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Eric Michael Williams acquired 13,800 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were acquired at an average price of $3.60 per share, with a total value of $49,680.00. Following the acquisition, the chief financial officer now owns 13,800 shares in the company, valued at $49,680. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 118,517 shares of company stock valued at $439,605. 4.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sunnova Energy International

Institutional investors have recently bought and sold shares of the business. Peapack Gladstone Financial Corp raised its position in Sunnova Energy International by 11.0% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 32,200 shares of the company’s stock worth $314,000 after buying an additional 3,200 shares during the last quarter. Sanctuary Advisors LLC grew its position in Sunnova Energy International by 36.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 695,582 shares of the company’s stock worth $6,775,000 after purchasing an additional 184,683 shares during the period. Virtu Financial LLC purchased a new position in shares of Sunnova Energy International during the 3rd quarter valued at about $433,000. Geode Capital Management LLC lifted its holdings in shares of Sunnova Energy International by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,562,684 shares of the company’s stock valued at $24,965,000 after buying an additional 88,945 shares during the period. Finally, Sylebra Capital LLC boosted its stake in shares of Sunnova Energy International by 125.6% in the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock worth $121,195,000 after buying an additional 6,926,399 shares during the last quarter.

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.