Sunnova Energy International (NYSE:NOVA) PT Raised to $9.00

Sunnova Energy International (NYSE:NOVA) had its target price raised by equities research analysts at Wells Fargo & Company from $6.00 to $9.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 21.79% from the stock’s current price.

Several other equities research analysts have also recently commented on NOVA. BMO Capital Markets dropped their target price on Sunnova Energy International from $10.00 to $6.00 and set a “market perform” rating on the stock in a report on Friday, May 3rd. Royal Bank of Canada upped their price target on Sunnova Energy International from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Monday. Scotiabank dropped their price target on Sunnova Energy International from $20.00 to $10.00 and set a “sector outperform” rating on the stock in a report on Monday, April 29th. Susquehanna upped their price target on Sunnova Energy International from $12.00 to $14.00 and gave the company a “positive” rating in a report on Friday, August 2nd. Finally, Evercore ISI dropped their price target on Sunnova Energy International from $26.00 to $17.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Eight investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.00.

Sunnova Energy International Price Performance

Shares of NYSE:NOVA opened at $7.39 on Tuesday. Sunnova Energy International has a 12 month low of $3.37 and a 12 month high of $16.78. The stock has a market cap of $916.23 million, a price-to-earnings ratio of -2.19 and a beta of 2.19. The stock’s 50 day moving average price is $6.31 and its 200 day moving average price is $6.37. The company has a debt-to-equity ratio of 3.41, a current ratio of 0.74 and a quick ratio of 0.74.

Sunnova Energy International (NYSE:NOVA) last announced its earnings results on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.27. Sunnova Energy International had a negative return on equity of 9.28% and a negative net margin of 45.76%. The firm had revenue of $219.60 million for the quarter, compared to analysts’ expectations of $220.38 million. During the same quarter in the previous year, the company earned ($0.74) earnings per share. The firm’s quarterly revenue was up 32.0% compared to the same quarter last year. Equities research analysts anticipate that Sunnova Energy International will post -1.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider William J. Berger 48,413 shares of the firm’s stock in a transaction on Tuesday, July 30th. The was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Sunnova Energy International by 56.7% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 14,142,487 shares of the company’s stock worth $78,915,000 after acquiring an additional 5,118,552 shares during the last quarter. Vanguard Group Inc. lifted its position in Sunnova Energy International by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 10,568,045 shares of the company’s stock worth $64,782,000 after acquiring an additional 81,653 shares during the last quarter. Van ECK Associates Corp lifted its position in Sunnova Energy International by 124.4% during the 4th quarter. Van ECK Associates Corp now owns 1,563,320 shares of the company’s stock worth $23,841,000 after acquiring an additional 866,705 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Sunnova Energy International by 7.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 842,130 shares of the company’s stock worth $12,842,000 after acquiring an additional 61,953 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its position in Sunnova Energy International by 3,168.8% during the 1st quarter. Westwood Holdings Group Inc. now owns 574,127 shares of the company’s stock worth $3,519,000 after acquiring an additional 556,563 shares during 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.