Sunnova Energy International Inc. (NYSE:NOVA) Receives Average Rating of “Moderate Buy” from Analysts

Sunnova Energy International Inc. (NYSE:NOVA) has earned an average rating of “Moderate Buy” from the twenty-five analysts that are currently covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $15.04.

Several research analysts recently weighed in on the stock. Piper Sandler downgraded shares of Sunnova Energy International from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $9.00 to $4.50 in a report on Tuesday, May 21st. Barclays dropped their target price on shares of Sunnova Energy International from $18.00 to $12.00 and set an “overweight” rating for the company in a report on Tuesday. BMO Capital Markets dropped their target price on shares of Sunnova Energy International from $10.00 to $6.00 and set a “market perform” rating for the company in a report on Friday, May 3rd. KeyCorp downgraded shares of Sunnova Energy International from an “overweight” rating to a “sector weight” rating in a report on Tuesday, April 23rd. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $6.00 target price (down previously from $11.00) on shares of Sunnova Energy International in a report on Friday, April 19th.

Institutional Trading of Sunnova Energy International

Several hedge funds have recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. raised its position in Sunnova Energy International by 166.9% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 69,017 shares of the company’s stock worth $385,000 after purchasing an additional 43,161 shares during the period. Nisa Investment Advisors LLC raised its position 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 worth $587,000 after purchasing an additional 105,070 shares during the period. Peoples Bank KS purchased a new stake in Sunnova Energy International in the 2nd quarter worth about $56,000. SG Americas Securities LLC raised its position in Sunnova Energy International by 55.8% in the 2nd quarter. SG Americas Securities LLC now owns 54,783 shares of the company’s stock worth $306,000 after purchasing an additional 19,615 shares during the period. Finally, First Affirmative Financial Network raised its position in Sunnova Energy International by 12.9% in the 2nd quarter. First Affirmative Financial Network now owns 14,829 shares of the company’s stock worth $83,000 after purchasing an additional 1,691 shares during the period.

Sunnova Energy International Trading Up 3.0 %

NYSE:NOVA opened at $7.61 on Friday. The company has a debt-to-equity ratio of 3.41, a current ratio of 0.74 and a quick ratio of 0.74. The firm has a market capitalization of $943.49 million, a price-to-earnings ratio of -2.26 and a beta of 2.19. Sunnova Energy International has a one year low of $3.37 and a one year high of $21.28. The business has a fifty day moving average price of $5.66 and a 200-day moving average price of $6.65.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.57) EPS for the quarter, topping the consensus estimate of ($0.79) by $0.22. The firm had revenue of $160.90 million during the quarter, compared to analyst estimates of $193.78 million. Sunnova Energy International had a negative return on equity of 12.10% and a negative net margin of 56.52%. Sunnova Energy International’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.70) EPS. Sell-side analysts forecast that Sunnova Energy International will post -1.88 EPS for the current year.

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.