Sunnova Energy International Inc. (NYSE:NOVA) Receives $15.73 Consensus Target Price from Brokerages

Sunnova Energy International Inc. (NYSE:NOVA) has received a consensus recommendation of “Moderate Buy” from the twenty-five analysts that are covering the firm, Marketbeat reports. Eight analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $15.73.

Several research analysts have recently commented on NOVA shares. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $6.00 price objective (down previously from $11.00) on shares of Sunnova Energy International in a research note on Friday, April 19th. Truist Financial dropped their price target on shares of Sunnova Energy International from $16.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Morgan Stanley decreased their price objective on shares of Sunnova Energy International from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Friday, June 14th. BMO Capital Markets dropped their target price 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. Finally, Scotiabank decreased their price target on Sunnova Energy International from $20.00 to $10.00 and set a “sector outperform” rating on the stock in a report on Monday, April 29th.

Institutional Trading of Sunnova Energy International

A number of hedge funds and other institutional investors have recently modified their holdings of NOVA. Westwood Holdings Group Inc. boosted its stake 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 worth $3,519,000 after buying an additional 556,563 shares during the period. Swedbank AB purchased a new position in shares of Sunnova Energy International during the 1st quarter worth approximately $2,086,000. Yaupon Capital Management LP increased its holdings in Sunnova Energy International by 7.4% in the 1st quarter. Yaupon Capital Management LP now owns 299,392 shares of the company’s stock valued at $1,835,000 after purchasing an additional 20,725 shares during the last quarter. Tidal Investments LLC purchased a new stake in Sunnova Energy International in the first quarter valued at approximately $291,000. Finally, Caxton Associates LP acquired a new position in Sunnova Energy International during the first quarter worth $62,000.

Sunnova Energy International Price Performance

Shares of NYSE NOVA opened at $6.51 on Tuesday. The company has a 50 day simple moving average of $4.77 and a two-hundred day simple moving average of $7.71. Sunnova Energy International has a fifty-two week low of $3.37 and a fifty-two week high of $24.56. The company has a market capitalization of $807.12 million, a price-to-earnings ratio of -1.93 and a beta of 2.19. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.74 and a current ratio of 0.74.

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

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.