Sunnova Energy International Inc. (NYSE:NOVA) Receives Average Rating of “Moderate Buy” from Brokerages

Sunnova Energy International Inc. (NYSE:NOVAGet Rating) has been given a consensus recommendation of “Moderate Buy” by the twenty analysts that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $35.28.

NOVA has been the subject of several research analyst reports. Janney Montgomery Scott initiated coverage on shares of Sunnova Energy International in a report on Thursday, December 1st. They issued a “buy” rating and a $33.00 price target for the company. Citigroup initiated coverage on shares of Sunnova Energy International in a report on Thursday, December 15th. They issued a “buy” rating and a $26.00 price target for the company. Piper Sandler upped their price target on shares of Sunnova Energy International from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday, December 22nd. Royal Bank of Canada upped their price target on shares of Sunnova Energy International from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Tuesday, November 22nd. Finally, Capital One Financial reiterated an “overweight” rating on shares of Sunnova Energy International in a report on Wednesday, November 16th.

Sunnova Energy International Stock Up 3.9 %

Shares of NYSE NOVA opened at $21.25 on Tuesday. The stock has a market cap of $2.44 billion, a P/E ratio of -16.47 and a beta of 2.13. The firm has a 50 day moving average price of $20.62 and a 200 day moving average price of $21.91. The company has a debt-to-equity ratio of 3.00, a quick ratio of 2.05 and a current ratio of 2.05. Sunnova Energy International has a 52-week low of $12.47 and a 52-week high of $31.47.

Sunnova Energy International (NYSE:NOVAGet Rating) last issued its quarterly earnings data on Wednesday, October 26th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.26). The firm had revenue of $149.36 million for the quarter, compared to analyst estimates of $129.49 million. Sunnova Energy International had a negative net margin of 34.38% and a negative return on equity of 10.57%. Analysts expect that Sunnova Energy International will post -1.56 EPS for the current year.

Institutional Trading of Sunnova Energy International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ensign Peak Advisors Inc raised its position in shares of Sunnova Energy International by 3.4% in the first quarter. Ensign Peak Advisors Inc now owns 21,510 shares of the company’s stock valued at $496,000 after purchasing an additional 710 shares during the period. Advisor Group Holdings Inc. raised its position in shares of Sunnova Energy International by 23.4% in the first quarter. Advisor Group Holdings Inc. now owns 4,788 shares of the company’s stock valued at $387,000 after purchasing an additional 907 shares during the period. Toroso Investments LLC raised its position in shares of Sunnova Energy International by 25.7% in the third quarter. Toroso Investments LLC now owns 4,470 shares of the company’s stock valued at $99,000 after purchasing an additional 915 shares during the period. Captrust Financial Advisors raised its position in shares of Sunnova Energy International by 236.4% in the first quarter. Captrust Financial Advisors now owns 1,487 shares of the company’s stock valued at $34,000 after purchasing an additional 1,045 shares during the period. Finally, First Republic Investment Management Inc. raised its position in shares of Sunnova Energy International by 9.1% in the second quarter. First Republic Investment Management Inc. now owns 13,052 shares of the company’s stock valued at $241,000 after purchasing an additional 1,094 shares during the period.

Sunnova Energy International Company Profile

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Sunnova Energy International Inc provides residential energy services 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 diagnostics services. As of December 31, 2021, it operated a fleet of residential solar energy systems with a generation capacity of approximately 1,140 megawatts serving over 195,000 customers.

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