Sunnova Energy International Inc. (NYSE:NOVA) Receives $12.11 Consensus Target Price from Analysts

Sunnova Energy International Inc. (NYSE:NOVA) has received an average rating of “Moderate Buy” from the twenty brokerages that are covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $12.11.

Several research firms have recently issued reports on NOVA. Piper Sandler increased their price target on Sunnova Energy International from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Morgan Stanley increased their price target on Sunnova Energy International from $11.00 to $13.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 21st. Wells Fargo & Company lifted their price objective on shares of 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. Scotiabank upped their target price on Sunnova Energy International from $10.00 to $14.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 6th. Finally, Robert W. Baird upped their price target on shares of Sunnova Energy International from $12.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd.

Sunnova Energy International Stock Up 2.9 %

NYSE:NOVA opened at $5.38 on Monday. 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 has a one year low of $3.37 and a one year high of $16.35. The stock has a 50-day simple moving average of $8.88 and a 200 day simple moving average of $6.86. The company has a market capitalization of $671.77 million, a price-to-earnings ratio of -1.86 and a beta of 2.21.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly 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 net margin of 45.76% and a negative return on equity of 8.85%. The company had revenue of $219.60 million during the quarter, compared to the consensus estimate of $220.38 million. During the same quarter in the previous year, the company posted ($0.74) earnings per share. The company’s revenue for the quarter was up 32.0% compared to the same quarter last year. Sell-side analysts predict that Sunnova Energy International will post -1.99 EPS for the current fiscal year.

Insider Activity at Sunnova Energy International

In other Sunnova Energy International news, insider William J. Berger sold 77,000 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $11.31, for a total value of $870,870.00. Following the completion of the sale, the insider now directly owns 409,045 shares of the company’s stock, valued at $4,626,298.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Handelsbanken Fonder AB boosted its holdings in Sunnova Energy International by 9.1% during the third quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock valued at $71,097,000 after purchasing an additional 611,452 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Sunnova Energy International by 23.4% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 357,781 shares of the company’s stock valued at $1,996,000 after buying an additional 67,749 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in Sunnova Energy International in the second quarter worth about $1,042,000. Sylebra Capital LLC acquired a new stake in shares of Sunnova Energy International during the 2nd quarter worth approximately $30,783,000. Finally, Vanguard Group Inc. raised its position in shares of Sunnova Energy International by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 10,568,045 shares of the company’s stock valued at $64,782,000 after acquiring an additional 81,653 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.