Sunnova Energy International Inc. (NYSE:NOVA) Receives $19.54 Average PT from Brokerages

Shares of Sunnova Energy International Inc. (NYSE:NOVA) have earned a consensus rating of “Moderate Buy” from the twenty-two brokerages that are presently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $19.46.

NOVA has been the topic of several research reports. Northland Securities restated a “market perform” rating and set a $9.00 price target (down previously from $12.00) on shares of Sunnova Energy International in a research note on Friday, February 23rd. Piper Sandler upgraded Sunnova Energy International from a “neutral” rating to an “overweight” rating and upped their target price for the company from $13.00 to $26.00 in a research report on Tuesday, December 19th. B. Riley lowered their price objective on Sunnova Energy International from $25.00 to $21.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. The Goldman Sachs Group reduced their target price on Sunnova Energy International from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Janney Montgomery Scott raised Sunnova Energy International from a “neutral” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Friday, March 22nd.

Insider Transactions at Sunnova Energy International

In other news, Director Akbar Mohamed acquired 152,450 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were purchased at an average price of $6.92 per share, for a total transaction of $1,054,954.00. Following the completion of the purchase, the director now directly owns 236,139 shares of the company’s stock, valued at approximately $1,634,081.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Paul S. Mathews sold 9,500 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $5.31, for a total value of $50,445.00. Following the completion of the transaction, the insider now directly owns 14,007 shares of the company’s stock, valued at approximately $74,377.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Akbar Mohamed acquired 152,450 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was acquired at an average cost of $6.92 per share, with a total value of $1,054,954.00. Following the completion of the acquisition, the director now directly owns 236,139 shares in the company, valued at $1,634,081.88. The disclosure for this purchase can be found here. Insiders sold 23,580 shares of company stock valued at $137,382 over the last quarter. Company insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Sunnova Energy International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NOVA. BlackRock Inc. boosted its stake in shares of Sunnova Energy International by 1.6% during the 1st quarter. BlackRock Inc. now owns 16,530,455 shares of the company’s stock worth $381,192,000 after acquiring an additional 261,186 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Sunnova Energy International by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 10,486,392 shares of the company’s stock valued at $159,917,000 after purchasing an additional 215,905 shares in the last quarter. Electron Capital Partners LLC lifted its holdings in shares of Sunnova Energy International by 42.9% in the third quarter. Electron Capital Partners LLC now owns 5,308,684 shares of the company’s stock valued at $55,582,000 after purchasing an additional 1,593,098 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Sunnova Energy International by 39.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,241,007 shares of the company’s stock valued at $50,618,000 after purchasing an additional 921,583 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Sunnova Energy International by 0.4% during the first quarter. State Street Corp now owns 2,185,742 shares of the company’s stock worth $50,403,000 after acquiring an additional 9,078 shares in the last quarter.

Sunnova Energy International Price Performance

NOVA opened at $4.21 on Thursday. Sunnova Energy International has a 52-week low of $3.80 and a 52-week high of $24.56. The stock has a market capitalization of $521.37 million, a P/E ratio of -1.20 and a beta of 2.08. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.85 and a current ratio of 0.85. The company’s 50-day simple moving average is $7.03 and its two-hundred day simple moving average is $9.73.

Sunnova Energy International (NYSE:NOVA) last posted its earnings results on Wednesday, February 21st. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.04. The firm had revenue of $194.18 million during the quarter, compared to the consensus estimate of $226.09 million. Sunnova Energy International had a negative return on equity of 13.26% and a negative net margin of 58.00%. As a group, analysts predict that Sunnova Energy International will post -2.28 EPS for the current year.

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.