Sunnova Energy International Inc. (NYSE:NOVA) Receives $16.71 Average PT from Brokerages

Shares of Sunnova Energy International Inc. (NYSE:NOVA) have been given an average recommendation of “Moderate Buy” by the twenty-five research firms that are presently covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $16.71.

NOVA has been the topic of several recent analyst reports. KeyCorp downgraded shares of Sunnova Energy International from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, April 23rd. Robert W. Baird reduced their price target on shares of Sunnova Energy International from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Mizuho lowered their price objective on Sunnova Energy International from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. BMO Capital Markets cut their price objective on Sunnova Energy International from $10.00 to $6.00 and set a “market perform” rating for the company in a research note on Friday, May 3rd. Finally, Northland Securities reaffirmed a “market perform” rating and set a $9.00 price target (down previously from $12.00) on shares of Sunnova Energy International in a report on Friday, February 23rd.

Sunnova Energy International Price Performance

NOVA stock opened at $4.11 on Monday. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a 50 day moving average price of $4.96 and a 200-day moving average price of $9.03. Sunnova Energy International has a 52-week low of $3.37 and a 52-week high of $24.56. The firm has a market capitalization of $508.94 million, a price-to-earnings ratio of -1.20 and a beta of 2.15.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.57) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.22. Sunnova Energy International had a negative return on equity of 12.10% and a negative net margin of 56.52%. The business had revenue of $160.90 million during the quarter, compared to analysts’ expectations of $193.78 million. During the same quarter in the previous year, the business earned ($0.70) earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. Equities research analysts forecast that Sunnova Energy International will post -2.39 EPS for the current fiscal year.

Insider Activity at Sunnova Energy International

In other Sunnova Energy International news, insider Jack O. Lynch III sold 12,994 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $6.21, for a total value of $80,692.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Sunnova Energy International news, insider Paul S. Mathews sold 9,500 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were 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 owns 14,007 shares of the company’s stock, valued at $74,377.17. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jack O. Lynch III sold 12,994 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $6.21, for a total value of $80,692.74. The disclosure for this sale can be found here. Insiders sold a total of 23,580 shares of company stock worth $137,382 in the last quarter. 4.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Sunnova Energy International in the first quarter worth about $25,000. Manchester Capital Management LLC raised its position in Sunnova Energy International by 2,959.7% during the fourth quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock valued at $29,000 after acquiring an additional 1,835 shares in the last quarter. First Trust Direct Indexing L.P. acquired a new position in Sunnova Energy International in the first quarter valued at approximately $66,000. BI Asset Management Fondsmaeglerselskab A S boosted its position in Sunnova Energy International by 129.9% in the 1st 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Sunnova Energy International by 158.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,036 shares of the company’s stock worth $74,000 after purchasing an additional 4,310 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.