Sunnova Energy International’s (NOVA) Market Perform Rating Reaffirmed at BMO Capital Markets

BMO Capital Markets restated their market perform rating on shares of Sunnova Energy International (NYSE:NOVA) in a research note released on Friday morning, Benzinga reports. The firm currently has a $8.00 price target on the stock, down from their prior price target of $10.00.

Other analysts have also recently issued research reports about the stock. Robert W. Baird reduced their price objective on shares of Sunnova Energy International from $18.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday. The Goldman Sachs Group boosted their price objective on shares of Sunnova Energy International from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Guggenheim boosted their price objective on shares of Sunnova Energy International from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Piper Sandler boosted their price objective on shares of Sunnova Energy International from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Finally, Barclays reduced their price objective on shares of Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.61.

Sunnova Energy International Price Performance

Shares of NYSE:NOVA traded down $0.34 during trading on Friday, hitting $5.73. 8,258,589 shares of the company were exchanged, compared to its average volume of 7,759,456. The business’s 50 day moving average is $8.69 and its 200-day moving average is $6.86. The company has a market capitalization of $715.45 million, a P/E ratio of -1.71 and a beta of 2.21. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 3.11. Sunnova Energy International has a 1-year low of $3.37 and a 1-year high of $16.35.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.45). Sunnova Energy International had a negative return on equity of 11.46% and a negative net margin of 51.02%. The company had revenue of $235.30 million for the quarter, compared to analyst estimates of $238.23 million. During the same quarter last year, the company posted ($0.53) earnings per share. The firm’s quarterly revenue was up 18.6% on a year-over-year basis. Equities analysts forecast that Sunnova Energy International will post -1.99 earnings per share for the current year.

Insider Transactions at Sunnova Energy International

In related news, insider William J. Berger sold 77,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $11.31, for a total value of $870,870.00. Following the sale, the insider now owns 409,045 shares in the company, valued at $4,626,298.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Sunnova Energy International

Institutional investors and hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC raised its holdings in shares of Sunnova Energy International by 37,400.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,000 shares of the company’s stock worth $308,000 after acquiring an additional 2,992 shares during the last quarter. GAMMA Investing LLC increased its stake in Sunnova Energy International by 736.3% in the 3rd quarter. GAMMA Investing LLC now owns 8,756 shares of the company’s stock valued at $85,000 after buying an additional 7,709 shares during the last quarter. Peoples Bank KS purchased a new stake in Sunnova Energy International in the 2nd quarter valued at about $56,000. Caxton Associates LP purchased a new stake in Sunnova Energy International in the 1st quarter valued at about $62,000. Finally, First Trust Direct Indexing L.P. purchased a new stake in Sunnova Energy International in the 1st quarter valued at about $66,000.

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.