Sunnova Energy International Inc. (NYSE:NOVA) Receives Consensus Recommendation of “Hold” from Analysts

Sunnova Energy International Inc. (NYSE:NOVA) has received a consensus recommendation of “Hold” from the twenty-three brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $10.73.

A number of equities analysts recently issued reports on the company. Morgan Stanley reduced their target price on Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating for the company in a research note on Friday, November 15th. Royal Bank of Canada cut Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a research note on Monday, December 9th. Wolfe Research lowered Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. BNP Paribas downgraded shares of Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 price target on the stock. in a report on Friday, November 8th. Finally, Barclays decreased their price objective on shares of Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th.

Sunnova Energy International Stock Performance

NOVA opened at $3.99 on Tuesday. The company has a market cap of $498.56 million, a P/E ratio of -1.19 and a beta of 2.22. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26. The firm’s 50-day moving average price is $4.99 and its 200-day moving average price is $6.95. Sunnova Energy International has a 52-week low of $2.99 and a 52-week high of $16.35.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.45). Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The company had revenue of $235.30 million for the quarter, compared to analyst estimates of $238.23 million. During the same quarter in the previous year, the company posted ($0.53) EPS. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. As a group, equities analysts anticipate that Sunnova Energy International will post -2.44 EPS for the current fiscal year.

Insider Activity at Sunnova Energy International

In related news, Director Akbar Mohamed acquired 54,717 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were acquired at an average cost of $3.80 per share, with a total value of $207,924.60. Following the completion of the acquisition, the director now directly owns 302,654 shares in the company, valued at approximately $1,150,085.20. This trade represents a 22.07 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Eric Michael Williams bought 13,800 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were bought at an average cost of $3.60 per share, with a total value of $49,680.00. Following the purchase, the chief financial officer now directly owns 13,800 shares of the company’s stock, valued at approximately $49,680. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 118,517 shares of company stock worth $439,605 in the last 90 days. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Sunnova Energy International

A number of hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC boosted its stake in shares of Sunnova Energy International by 55.8% in the second quarter. SG Americas Securities LLC now owns 54,783 shares of the company’s stock worth $306,000 after acquiring an additional 19,615 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Sunnova Energy International by 87,558.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 105,190 shares of the company’s stock valued at $587,000 after purchasing an additional 105,070 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Sunnova Energy International by 13.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 394,812 shares of the company’s stock valued at $2,203,000 after purchasing an additional 48,119 shares in the last quarter. Presidio Capital Management LLC acquired a new stake in Sunnova Energy International during the 2nd quarter worth $67,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in shares of Sunnova Energy International by 136.6% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 237,203 shares of the company’s stock worth $1,324,000 after buying an additional 136,968 shares in the last quarter.

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.