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

Shares of Sunnova Energy International Inc. (NYSE:NOVA) have received a consensus rating of “Moderate Buy” from the twenty-five brokerages that are currently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation, seventeen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $16.71.

Several equities research analysts recently commented on the company. Northland Securities reaffirmed a “market perform” rating and issued a $9.00 price target (down previously from $12.00) on shares of Sunnova Energy International in a report on Friday, February 23rd. Truist Financial cut their price target on Sunnova Energy International from $16.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $6.00 price target (down previously from $11.00) on shares of Sunnova Energy International in a report on Friday, April 19th. The Goldman Sachs Group lowered their price objective on Sunnova Energy International from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, April 11th. Finally, Janney Montgomery Scott upgraded Sunnova Energy International from a “neutral” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Friday, March 22nd.

Insiders Place Their Bets

In other news, insider Paul S. Mathews sold 9,500 shares of Sunnova Energy International stock in a transaction on Monday, March 11th. The stock was sold at an average price of $5.31, for a total value of $50,445.00. Following the completion of the sale, the insider now owns 14,007 shares of the company’s stock, valued at $74,377.17. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Sunnova Energy International news, insider Paul S. Mathews sold 9,500 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $5.31, for a total transaction of $50,445.00. Following the completion of the sale, the insider now owns 14,007 shares of the company’s stock, valued at $74,377.17. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Akbar Mohamed acquired 152,450 shares of Sunnova Energy International stock in a transaction on Wednesday, February 28th. The shares were bought at an average price of $6.92 per share, for a total transaction of $1,054,954.00. Following the purchase, the director now owns 236,139 shares of the company’s stock, valued at $1,634,081.88. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 23,580 shares of company stock valued at $137,382. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Electron Capital Partners LLC increased its holdings in Sunnova Energy International by 42.9% in the third quarter. Electron Capital Partners LLC now owns 5,308,684 shares of the company’s stock valued at $55,582,000 after buying an additional 1,593,098 shares during the last quarter. Van ECK Associates Corp grew its stake in Sunnova Energy International by 124.4% during the 4th quarter. Van ECK Associates Corp now owns 1,563,320 shares of the company’s stock worth $23,841,000 after buying an additional 866,705 shares during the last quarter. Banque Pictet & Cie SA bought a new stake in Sunnova Energy International in the third quarter valued at $6,906,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Sunnova Energy International by 57.6% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,324,957 shares of the company’s stock worth $13,872,000 after acquiring an additional 484,150 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of Sunnova Energy International in the 4th quarter worth about $6,930,000.

Sunnova Energy International Stock Performance

Shares of NOVA stock opened at $4.79 on Monday. The company has a market capitalization of $593.19 million, a P/E ratio of -1.42 and a beta of 2.15. The business’s 50 day moving average is $5.05 and its two-hundred day moving average is $9.09. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.58. Sunnova Energy International has a 12-month low of $3.37 and a 12-month high of $24.56.

Sunnova Energy International (NYSE:NOVA) last announced its earnings results on Wednesday, May 1st. The company reported ($0.57) EPS for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.22. Sunnova Energy International had a negative return on equity of 12.35% and a negative net margin of 56.52%. The business had revenue of $160.90 million during the quarter, compared to analysts’ expectations of $193.78 million. During the same quarter in the prior year, the firm earned ($0.70) earnings per share. The business’s revenue was down .5% compared to the same quarter last year. Analysts expect that Sunnova Energy International will post -2.39 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.