Sunnova Energy International Inc. (NYSE:NOVA) Receives $10.89 Average Target Price from Brokerages

Sunnova Energy International Inc. (NYSE:NOVA) has earned a consensus rating of “Moderate Buy” from the twenty-three brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $10.73.

Several research firms recently weighed in on NOVA. Jefferies Financial Group started coverage on shares of Sunnova Energy International in a report on Thursday, October 10th. They set a “buy” rating and a $15.00 price target on the stock. The Goldman Sachs Group upped their target price on Sunnova Energy International from $10.00 to $13.00 and gave the company a “buy” rating in a report on Friday, August 2nd. BMO Capital Markets reaffirmed a “market perform” rating and set a $8.00 price target (down from $10.00) on shares of Sunnova Energy International in a research report on Friday, November 1st. Wolfe Research cut Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. Finally, Guggenheim lowered Sunnova Energy International from a “buy” rating to a “neutral” rating in a research report on Thursday, November 7th.

Insider Buying and Selling at Sunnova Energy International

In other news, Director Akbar Mohamed purchased 54,717 shares of Sunnova Energy International stock in a transaction dated Friday, November 15th. The stock was purchased at an average cost of $3.80 per share, for a total transaction of $207,924.60. Following the transaction, the director now directly owns 302,654 shares of the company’s stock, valued at approximately $1,150,085.20. This trade represents a 22.07 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Eric Michael Williams acquired 13,800 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average price of $3.60 per share, for a total transaction of $49,680.00. Following the transaction, the chief financial officer now directly owns 13,800 shares of the company’s stock, valued at $49,680. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders purchased 118,517 shares of company stock valued at $439,605 in the last quarter. 4.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NOVA. Peapack Gladstone Financial Corp lifted its position in Sunnova Energy International by 11.0% during the third quarter. Peapack Gladstone Financial Corp now owns 32,200 shares of the company’s stock valued at $314,000 after purchasing an additional 3,200 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of 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 acquiring an additional 184,683 shares during the last quarter. Virtu Financial LLC bought a new position in Sunnova Energy International in the third quarter valued at $433,000. Geode Capital Management LLC raised its position in Sunnova Energy International by 3.6% during the third quarter. Geode Capital Management LLC now owns 2,562,684 shares of the company’s stock valued at $24,965,000 after purchasing an additional 88,945 shares in the last quarter. Finally, Sylebra Capital LLC raised its position in Sunnova Energy International by 125.6% during the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock valued at $121,195,000 after purchasing an additional 6,926,399 shares in the last quarter.

Sunnova Energy International Stock Performance

Shares of Sunnova Energy International stock opened at $5.35 on Friday. Sunnova Energy International has a 52 week low of $2.99 and a 52 week high of $16.35. 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 business has a 50 day moving average price of $6.40 and a 200-day moving average price of $6.93. The company has a market cap of $668.48 million, a PE ratio of -1.60 and a beta of 2.26.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $238.23 million. During the same period in the previous year, the company posted ($0.53) earnings per share. The company’s quarterly revenue was up 18.6% compared to the same quarter last year. Equities analysts anticipate that Sunnova Energy International will post -2.29 earnings per share 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.