Sunnova Energy International (NYSE:NOVA) Coverage Initiated at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Sunnova Energy International (NYSE:NOVA) in a research report released on Thursday, MarketBeat reports. The brokerage issued a buy rating and a $15.00 price objective on the stock.

A number of other research firms have also recently issued reports on NOVA. Guggenheim increased their target price on Sunnova Energy International from $7.00 to $10.00 and gave the stock a buy rating in a research note on Friday, July 26th. Scotiabank raised their price objective on shares of Sunnova Energy International from $10.00 to $14.00 and gave the stock a sector outperform rating in a report on Tuesday, August 6th. Barclays cut their price objective on shares of Sunnova Energy International from $18.00 to $12.00 and set an overweight rating on the stock in a research report on Tuesday, July 23rd. Morgan Stanley lifted their price target on Sunnova Energy International from $11.00 to $13.00 and gave the company an equal weight rating in a research note on Wednesday, August 21st. Finally, Wells Fargo & Company upped their price objective on Sunnova Energy International from $6.00 to $9.00 and gave the stock an equal weight rating in a research report on Tuesday, August 6th. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $12.57.

Sunnova Energy International Trading Up 1.1 %

NOVA opened at $6.57 on Thursday. The firm’s fifty day moving average is $9.53 and its two-hundred day moving average is $6.83. The firm has a market cap of $814.56 million, a PE ratio of -1.95 and a beta of 2.21. Sunnova Energy International has a twelve month low of $3.37 and a twelve month high of $16.35. 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 quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.27. Sunnova Energy International had a negative return on equity of 8.85% and a negative net margin of 45.76%. The business had revenue of $219.60 million for the quarter, compared to the consensus estimate of $220.38 million. During the same quarter last year, the business posted ($0.74) EPS. The firm’s revenue was up 32.0% compared to the same quarter last year. Equities research analysts anticipate that Sunnova Energy International will post -1.86 EPS for the current year.

Insider Activity at Sunnova Energy International

In other news, insider William J. Berger sold 77,000 shares of Sunnova Energy International stock in a transaction that occurred on 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 transaction, the insider now directly owns 409,045 shares in the company, valued at approximately $4,626,298.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Peoples Bank KS bought a new stake in shares of Sunnova Energy International during the second quarter worth approximately $56,000. Caxton Associates LP bought a new position in shares of Sunnova Energy International during the first quarter worth approximately $62,000. First Trust Direct Indexing L.P. bought a new stake in Sunnova Energy International in the 1st quarter valued at $66,000. Presidio Capital Management LLC bought a new stake in Sunnova Energy International in the 2nd quarter valued at $67,000. Finally, nVerses Capital LLC grew its holdings in 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 buying an additional 8,800 shares in the last quarter.

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.