Sunnova Energy International Inc. (NYSE:NOVA) Receives $9.60 Consensus Price Target from Brokerages

Shares of Sunnova Energy International Inc. (NYSE:NOVA) have earned an average rating of “Hold” from the twenty-five analysts that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $9.03.

A number of equities analysts have weighed in on NOVA shares. Deutsche Bank Aktiengesellschaft decreased their target price on Sunnova Energy International from $9.00 to $6.25 and set a “hold” rating on the stock in a research note on Friday, November 1st. Royal Bank of Canada cut shares of Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a research report on Monday, December 9th. The Goldman Sachs Group dropped their target price on shares of Sunnova Energy International from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, December 17th. Jefferies Financial Group lowered shares of Sunnova Energy International from a “buy” rating to a “hold” rating and decreased their price target for the stock from $9.00 to $2.00 in a report on Friday. Finally, Wells Fargo & Company dropped their price objective on shares of Sunnova Energy International from $8.00 to $4.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th.

Insider Buying and Selling at Sunnova Energy International

In other Sunnova Energy International news, CFO Eric Michael Williams purchased 13,800 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was bought at an average price of $3.60 per share, with a total value of $49,680.00. Following the completion of the purchase, the chief financial officer now directly owns 13,800 shares of the company’s stock, valued at $49,680. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Akbar Mohamed acquired 50,000 shares of Sunnova Energy International stock in a transaction on Monday, November 18th. The shares were bought at an average cost of $3.64 per share, for a total transaction of $182,000.00. Following the completion of the transaction, the director now owns 352,654 shares in the company, valued at approximately $1,283,660.56. This trade represents a 16.52 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 118,517 shares of company stock valued at $439,605 in the last quarter. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Sunnova Energy International

Institutional investors have recently bought and sold shares of the stock. Erste Asset Management GmbH purchased a new position in shares of Sunnova Energy International during the 3rd quarter worth approximately $76,550,000. Sylebra Capital LLC grew its stake in Sunnova Energy International by 125.6% in the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock worth $121,195,000 after purchasing an additional 6,926,399 shares during the period. Teilinger Capital Ltd. bought a new position in Sunnova Energy International in the fourth quarter worth $3,588,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Sunnova Energy International by 190.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 744,686 shares of the company’s stock worth $7,253,000 after purchasing an additional 488,623 shares in the last quarter. Finally, Amundi lifted its position in Sunnova Energy International by 11.2% during the fourth quarter. Amundi now owns 4,385,286 shares of the company’s stock valued at $14,988,000 after buying an additional 441,232 shares during the period.

Sunnova Energy International Stock Down 9.6 %

Shares of NYSE:NOVA opened at $2.23 on Wednesday. The firm has a fifty day moving average price of $3.59 and a two-hundred day moving average price of $6.23. The company has a market cap of $278.01 million, a price-to-earnings ratio of -0.66 and a beta of 2.28. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86. Sunnova Energy International has a one year low of $2.21 and a one year high of $13.00.

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.