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

Sunnova Energy International Inc. (NYSE:NOVA) has received an average recommendation of “Moderate Buy” from the twenty-five ratings firms that are presently covering the firm, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $15.73.

Several equities research analysts recently commented on NOVA shares. Scotiabank reduced their price objective on Sunnova Energy International from $20.00 to $10.00 and set a “sector outperform” rating for the company in a report on Monday, April 29th. BMO Capital Markets decreased their price objective on shares of Sunnova Energy International from $10.00 to $6.00 and set a “market perform” rating for the company in a report on Friday, May 3rd. Evercore ISI dropped their target price on shares of Sunnova Energy International from $26.00 to $17.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Mizuho decreased their target price on shares of Sunnova Energy International from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Finally, KeyCorp downgraded Sunnova Energy International from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, April 23rd.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Electron Capital Partners LLC boosted its stake in Sunnova Energy International by 42.9% during 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 increased its position in Sunnova Energy International by 124.4% in the fourth quarter. Van ECK Associates Corp now owns 1,563,320 shares of the company’s stock worth $23,841,000 after purchasing an additional 866,705 shares during the last quarter. Banque Pictet & Cie SA purchased a new stake in Sunnova Energy International during the third quarter valued at $6,906,000. Westwood Holdings Group Inc. lifted its position in Sunnova Energy International by 3,168.8% during the first quarter. Westwood Holdings Group Inc. now owns 574,127 shares of the company’s stock valued at $3,519,000 after purchasing an additional 556,563 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in Sunnova Energy International during the fourth quarter valued at $6,930,000.

Sunnova Energy International Stock Down 6.3 %

Shares of Sunnova Energy International stock opened at $5.23 on Tuesday. The company has a 50-day simple moving average of $4.83 and a two-hundred day simple moving average of $7.56. Sunnova Energy International has a 52-week low of $3.37 and a 52-week high of $24.56. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.74 and a current ratio of 0.74. The stock has a market capitalization of $648.43 million, a PE ratio of -1.55 and a beta of 2.19.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.57) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.22. The company had revenue of $160.90 million during the quarter, compared to analyst estimates of $193.78 million. Sunnova Energy International had a negative net margin of 56.52% and a negative return on equity of 12.10%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.70) EPS. On average, analysts anticipate that Sunnova Energy International will post -1.85 EPS for the current fiscal year.

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.