Sunnova Energy International Inc. (NYSE:NOVA) Given Consensus Recommendation of “Hold” by Analysts

Sunnova Energy International Inc. (NYSE:NOVA) has received a consensus rating of “Hold” from the twenty-four brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $9.58.

Several research analysts recently commented on the stock. Wolfe Research downgraded shares of Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Robert W. Baird dropped their target price on shares of Sunnova Energy International from $12.00 to $9.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Susquehanna downgraded Sunnova Energy International from a “positive” rating to a “neutral” rating and reduced their price target for the company from $14.00 to $4.50 in a report on Friday. Guggenheim cut Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Finally, Piper Sandler reduced their target price on Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating on the stock in a research note on Friday, November 22nd.

Sunnova Energy International Stock Performance

NYSE NOVA opened at $3.43 on Friday. The company has a fifty day moving average of $4.21 and a 200-day moving average of $6.72. Sunnova Energy International has a 52-week low of $2.99 and a 52-week high of $13.00. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $428.59 million, a P/E ratio of -1.02 and a beta of 2.29.

Sunnova Energy International (NYSE:NOVA) last released its earnings results on Wednesday, October 30th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.45). The business had revenue of $235.30 million for the quarter, compared to the consensus estimate of $238.23 million. Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. Sunnova Energy International’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.53) EPS. As a group, equities research analysts predict 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 purchased 50,000 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were purchased at an average price of $3.64 per share, for a total transaction of $182,000.00. Following the completion of the acquisition, the director now directly owns 352,654 shares in the company, valued at $1,283,660.56. This represents a 16.52 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Eric Michael Williams acquired 13,800 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average price of $3.60 per share, with a total value of $49,680.00. Following the completion of the acquisition, the chief financial officer now owns 13,800 shares in the company, valued at $49,680. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 118,517 shares of company stock valued at $439,605 in the last 90 days. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NOVA. Sylebra Capital LLC raised its position in Sunnova Energy International by 125.6% in the 3rd 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. Erste Asset Management GmbH purchased a new position in shares of Sunnova Energy International during the third quarter valued at approximately $76,550,000. Handelsbanken Fonder AB lifted its position in Sunnova Energy International by 9.1% during the third quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock valued at $71,097,000 after purchasing an additional 611,452 shares during the period. Electron Capital Partners LLC boosted its holdings in Sunnova Energy International by 24.5% in the second quarter. Electron Capital Partners LLC now owns 3,004,938 shares of the company’s stock worth $16,768,000 after purchasing an additional 591,514 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in 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 worth $24,965,000 after purchasing an additional 88,945 shares during the period.

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.