Sunnova Energy International (NYSE:NOVA) Price Target Raised to $14.00

Sunnova Energy International (NYSE:NOVA) had its price objective boosted by Robert W. Baird from $12.00 to $14.00 in a research note published on Friday, Benzinga reports. The firm currently has an outperform rating on the stock.

Other analysts have also issued research reports about the stock. B. Riley lowered their price target on shares of Sunnova Energy International from $21.00 to $15.00 and set a buy rating on the stock in a research report on Monday, April 22nd. Wells Fargo & Company reaffirmed an equal weight rating and issued a $6.00 price target (down previously from $11.00) on shares of Sunnova Energy International in a report on Friday, April 19th. Morgan Stanley dropped their price objective on Sunnova Energy International from $14.00 to $10.00 and set an equal weight rating for the company in a research note on Friday, June 14th. Scotiabank decreased their target price on Sunnova Energy International from $20.00 to $10.00 and set a sector outperform rating on the stock in a research note on Monday, April 29th. Finally, Piper Sandler cut Sunnova Energy International from an overweight rating to a neutral rating and lowered their price target for the company from $9.00 to $4.50 in a report on Tuesday, May 21st. Eight analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $14.72.

Sunnova Energy International Trading Down 4.9 %

Sunnova Energy International stock traded down $0.39 during trading hours on Friday, hitting $7.60. The stock had a trading volume of 5,401,557 shares, compared to its average volume of 8,480,284. The business’s 50 day simple moving average is $6.13 and its 200-day simple moving average is $6.40. The stock has a market cap of $942.26 million, a price-to-earnings ratio of -2.32 and a beta of 2.19. Sunnova Energy International has a one year low of $3.37 and a one year high of $16.78. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 3.41.

Sunnova Energy International (NYSE:NOVA) last released its earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.27. Sunnova Energy International had a negative return on equity of 9.28% and a negative net margin of 45.76%. The company had revenue of $219.60 million during the quarter, compared to analyst estimates of $220.38 million. During the same period in the prior year, the company posted ($0.74) earnings per share. Sunnova Energy International’s quarterly revenue was up 32.0% on a year-over-year basis. On average, equities analysts predict that Sunnova Energy International will post -1.89 EPS for the current fiscal year.

Insider Buying and Selling at Sunnova Energy International

In other Sunnova Energy International news, insider William J. Berger 48,413 shares of Sunnova Energy International stock in a transaction on Tuesday, July 30th. The was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sunnova Energy International

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Sunnova Energy International by 3.8% in the third quarter. Vanguard Group Inc. now owns 10,270,487 shares of the company’s stock worth $107,532,000 after acquiring an additional 379,032 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Sunnova Energy International by 53.2% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 101,823 shares of the company’s stock worth $1,553,000 after buying an additional 35,338 shares during the last quarter. Ballentine Partners LLC acquired a new stake in Sunnova Energy International during the fourth quarter worth about $161,000. DekaBank Deutsche Girozentrale lifted its holdings in Sunnova Energy International by 8.0% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 20,898 shares of the company’s stock valued at $325,000 after acquiring an additional 1,554 shares during the period. Finally, Headlands Technologies LLC purchased a new position in shares of Sunnova Energy International during the 4th quarter valued at approximately $157,000.

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.