Sunnova Energy International (NYSE:NOVA) Price Target Raised to $10.00

Sunnova Energy International (NYSE:NOVA) had its target price increased by BMO Capital Markets from $9.00 to $10.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has a market perform rating on the stock.

A number of other research firms also recently issued reports on NOVA. Wells Fargo & Company increased their price target on shares of Sunnova Energy International from $6.00 to $9.00 and gave the stock an equal weight rating in a research note on Tuesday, August 6th. Truist Financial increased their price target on shares of Sunnova Energy International from $9.00 to $10.00 and gave the stock a buy rating in a research note on Monday, July 29th. Piper Sandler increased their price target on shares of Sunnova Energy International from $7.00 to $8.00 and gave the stock a neutral rating in a research note on Monday, August 12th. Jefferies Financial Group started coverage on shares of Sunnova Energy International in a research note on Thursday, October 10th. They issued a buy rating and a $15.00 price target for the company. Finally, Scotiabank increased their price target on shares of Sunnova Energy International from $10.00 to $14.00 and gave the stock a sector outperform rating in a research note on Tuesday, August 6th. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $12.75.

Sunnova Energy International Stock Performance

Shares of NYSE:NOVA opened at $6.33 on Monday. The company has a market cap of $784.81 million, a price-to-earnings ratio of -1.88 and a beta of 2.21. The company has a 50-day moving average price of $9.50 and a 200-day moving average price of $6.83. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 3.11. Sunnova Energy International has a 12 month low of $3.37 and a 12 month high of $16.35.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.54) by $0.27. The firm had revenue of $219.60 million during the quarter, compared to the consensus estimate of $220.38 million. Sunnova Energy International had a negative net margin of 45.76% and a negative return on equity of 8.85%. The company’s quarterly revenue was up 32.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.74) earnings per share. As a group, equities analysts anticipate that Sunnova Energy International will post -1.86 EPS for the current year.

Insider Activity

In other news, insider William J. Berger sold 77,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $11.31, for a total transaction of $870,870.00. Following the sale, the insider now owns 409,045 shares in the company, valued at $4,626,298.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Sunnova Energy International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Affirmative Financial Network boosted its holdings 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 worth $83,000 after purchasing an additional 1,691 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Sunnova Energy International by 6.7% in the second quarter. The Manufacturers Life Insurance Company now owns 56,487 shares of the company’s stock worth $315,000 after purchasing an additional 3,559 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in Sunnova Energy International by 14.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 33,033 shares of the company’s stock worth $202,000 after purchasing an additional 4,200 shares during the last quarter. Sei Investments Co. boosted its holdings in Sunnova Energy International by 9.8% in the second quarter. Sei Investments Co. now owns 68,846 shares of the company’s stock worth $384,000 after purchasing an additional 6,117 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Sunnova Energy International by 129.9% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,788 shares of the company’s stock worth $72,000 after purchasing an additional 6,661 shares during 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.