BMO Capital Markets Reiterates “Market Perform” Rating for Sunnova Energy International (NYSE:NOVA)

Sunnova Energy International (NYSE:NOVA)‘s stock had its “market perform” rating restated by equities researchers at BMO Capital Markets in a research note issued to investors on Friday, Benzinga reports. They presently have a $8.00 target price on the stock, down from their previous target price of $10.00. BMO Capital Markets’ price objective would suggest a potential upside of 34.45% from the stock’s current price.

Several other brokerages also recently issued reports on NOVA. Jefferies Financial Group started coverage on Sunnova Energy International in a research report on Thursday, October 10th. They set a “buy” rating and a $15.00 price objective for the company. Wells Fargo & Company raised their price target on Sunnova Energy International from $6.00 to $9.00 and gave the company an “equal weight” rating in a report on Tuesday, August 6th. Royal Bank of Canada upped their price objective on shares of Sunnova Energy International from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Piper Sandler raised their target price on shares of Sunnova Energy International from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Finally, Truist Financial upped their price target on shares of Sunnova Energy International from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sunnova Energy International currently has a consensus rating of “Moderate Buy” and an average target price of $11.61.

Sunnova Energy International Stock Performance

NYSE:NOVA traded down $0.12 during midday trading on Friday, reaching $5.95. 3,518,131 shares of the company traded hands, compared to its average volume of 7,737,180. The firm has a market capitalization of $742.92 million, a price-to-earnings ratio of -1.78 and a beta of 2.21. The company has a fifty day moving average price of $8.80 and a 200 day moving average price of $6.85. The company has a debt-to-equity ratio of 3.11, a current ratio of 0.97 and a quick ratio of 0.97. Sunnova Energy International has a twelve month low of $3.37 and a twelve month high of $16.35.

Sunnova Energy International (NYSE:NOVA) last announced 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). The firm had revenue of $235.30 million for the quarter, compared to analyst estimates of $238.23 million. Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.46%. The business’s revenue was up 18.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.53) EPS. On average, analysts expect that Sunnova Energy International will post -1.99 EPS for the current fiscal year.

Insider Buying and Selling at Sunnova Energy International

In other news, insider William J. Berger sold 77,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $11.31, for a total value of $870,870.00. Following the completion of the sale, the insider now directly owns 409,045 shares of the company’s stock, valued at $4,626,298.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.50% of the company’s stock.

Institutional Trading of Sunnova Energy International

Hedge funds and other institutional investors have recently modified their holdings of the company. Peoples Bank KS acquired a new position in Sunnova Energy International in the 2nd quarter worth about $56,000. Caxton Associates LP acquired a new stake in shares of Sunnova Energy International during the 1st quarter valued at about $62,000. First Trust Direct Indexing L.P. bought a new stake in shares of Sunnova Energy International in the 1st quarter valued at approximately $66,000. Presidio Capital Management LLC acquired a new position in Sunnova Energy International in the second quarter worth approximately $67,000. Finally, nVerses Capital LLC raised its position in Sunnova Energy International by 237.8% during the second quarter. nVerses Capital LLC now owns 12,500 shares of the company’s stock valued at $70,000 after acquiring an additional 8,800 shares in the last quarter.

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.