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

Sunnova Energy International Inc. (NYSE:NOVA) has received an average rating of “Moderate Buy” from the twenty-one research firms that are covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $11.61.

A number of brokerages have recently weighed in on NOVA. Robert W. Baird cut their price objective on Sunnova Energy International from $18.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday. Wells Fargo & Company upped their target price on shares of Sunnova Energy International from $6.00 to $9.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 6th. The Goldman Sachs Group increased their price target on Sunnova Energy International from $10.00 to $13.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Guggenheim upped their price objective on shares of Sunnova Energy International from $7.00 to $10.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Jefferies Financial Group assumed coverage on Sunnova Energy International in a research report on Thursday, October 10th. They issued a “buy” rating and a $15.00 target price on the stock.

Sunnova Energy International Price Performance

NOVA stock opened at $5.72 on Monday. Sunnova Energy International has a one year low of $3.37 and a one year high of $16.35. The company has a market capitalization of $714.20 million, a PE ratio of -1.71 and a beta of 2.21. The company’s fifty day moving average price is $8.69 and its 200-day moving average price is $6.86. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.97 and a current ratio of 0.97.

Sunnova Energy International (NYSE:NOVA) last issued its earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.45). The firm 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 11.46%. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period last year, the firm earned ($0.53) earnings per share. On average, equities analysts anticipate that Sunnova Energy International will post -1.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider William J. Berger sold 77,000 shares of Sunnova Energy International stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $11.31, for a total transaction of $870,870.00. Following the completion of the sale, the insider now directly owns 409,045 shares in the company, valued at $4,626,298.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.50% of the company’s stock.

Institutional Trading of Sunnova Energy International

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Peoples Bank KS acquired a new position in shares of Sunnova Energy International in the 2nd quarter valued at approximately $56,000. Caxton Associates LP bought a new stake in shares of Sunnova Energy International during the first quarter worth about $62,000. First Trust Direct Indexing L.P. acquired a new stake in Sunnova Energy International in the first quarter valued at $66,000. Presidio Capital Management LLC bought a new position in Sunnova Energy International during the 2nd quarter worth approximately $67,000. Finally, nVerses Capital LLC lifted its stake in shares of Sunnova Energy International by 237.8% in the 2nd quarter. nVerses Capital LLC now owns 12,500 shares of the company’s stock valued at $70,000 after purchasing an additional 8,800 shares during the period.

Sunnova Energy International Company Profile

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.