Sunnova Energy International (NYSE:NOVA) Given “Market Perform” Rating at BMO Capital Markets

Sunnova Energy International (NYSE:NOVA)‘s stock had its “market perform” rating reiterated by research analysts at BMO Capital Markets in a report issued on Friday, Benzinga reports. They currently have a $8.00 price objective on the stock, down from their previous price objective of $10.00. BMO Capital Markets’ price target would suggest a potential upside of 39.62% from the company’s current price.

Several other equities analysts have also recently issued reports on NOVA. Citigroup decreased their price target on Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Truist Financial raised their price target on Sunnova Energy International from $9.00 to $10.00 and gave the company a “buy” rating in a report on Monday, July 29th. Scotiabank increased their target price on Sunnova Energy International from $10.00 to $14.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 6th. Wells Fargo & Company increased their target price on Sunnova Energy International from $6.00 to $9.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 6th. Finally, The Goldman Sachs Group increased their target price on Sunnova Energy International from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.61.

Sunnova Energy International Price Performance

Shares of NOVA stock opened at $5.73 on Friday. The stock’s fifty day moving average is $8.69 and its 200-day moving average is $6.89. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market capitalization of $715.45 million, a PE ratio of -1.71 and a beta of 2.26. Sunnova Energy International has a 52 week low of $3.37 and a 52 week high of $16.35.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.45). The firm had revenue of $235.30 million during 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%. Sunnova Energy International’s revenue was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.53) EPS. Equities research analysts expect that Sunnova Energy International will post -1.99 EPS for the current fiscal year.

Insider Activity at Sunnova Energy International

In related 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 value of $870,870.00. Following the sale, the insider now owns 409,045 shares of the company’s stock, valued at approximately $4,626,298.95. This trade represents 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 hyperlink. 4.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. First Affirmative Financial Network grew its stake in Sunnova Energy International by 12.9% in the second quarter. First Affirmative Financial Network now owns 14,829 shares of the company’s stock valued at $83,000 after purchasing an additional 1,691 shares in the last quarter. First Trust Direct Indexing L.P. grew its stake in Sunnova Energy International by 11.6% in the third quarter. First Trust Direct Indexing L.P. now owns 19,373 shares of the company’s stock valued at $189,000 after purchasing an additional 2,016 shares in the last quarter. Ballentine Partners LLC grew its stake in Sunnova Energy International by 15.9% in the third quarter. Ballentine Partners LLC now owns 21,515 shares of the company’s stock valued at $210,000 after purchasing an additional 2,956 shares in the last quarter. International Assets Investment Management LLC grew its stake in Sunnova Energy International by 37,400.0% in the third quarter. International Assets Investment Management LLC now owns 3,000 shares of the company’s stock valued at $308,000 after purchasing an additional 2,992 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Sunnova Energy International by 6.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,487 shares of the company’s stock worth $315,000 after acquiring an additional 3,559 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.