Sunnova Energy International Inc. (NYSE:NOVA) Receives Average Recommendation of “Hold” from Analysts

Shares of Sunnova Energy International Inc. (NYSE:NOVA) have earned a consensus recommendation of “Hold” from the twenty-four analysts that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $10.24.

Several analysts have issued reports on NOVA shares. Barclays cut their target price 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. Wolfe Research downgraded Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. The Goldman Sachs Group decreased their price objective on Sunnova Energy International from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, December 17th. BNP Paribas lowered shares of Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 price target for the company. in a research report on Friday, November 8th. Finally, Citigroup lowered their price objective on shares of Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd.

Insider Buying and Selling

In other Sunnova Energy International news, Director Akbar Mohamed bought 54,717 shares of the stock in a transaction on Friday, November 15th. The shares were purchased at an average price of $3.80 per share, with a total value of $207,924.60. Following the acquisition, the director now directly owns 302,654 shares of the company’s stock, valued at $1,150,085.20. This represents a 22.07 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Eric Michael Williams purchased 13,800 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were acquired at an average price of $3.60 per share, with a total value of $49,680.00. Following the completion of the acquisition, the chief financial officer now owns 13,800 shares of the company’s stock, valued at approximately $49,680. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 118,517 shares of company stock valued at $439,605. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Sunnova Energy International

Several large investors have recently added to or reduced their stakes in the company. DRW Securities LLC bought a new stake in shares of Sunnova Energy International during the third quarter valued at approximately $989,000. Erste Asset Management GmbH bought a new stake in Sunnova Energy International in the 3rd quarter valued at $76,550,000. Handelsbanken Fonder AB increased its holdings in Sunnova Energy International by 9.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock valued at $71,097,000 after buying an additional 611,452 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Sunnova Energy International by 190.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 744,686 shares of the company’s stock valued at $7,253,000 after buying an additional 488,623 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Sunnova Energy International by 23.4% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 357,781 shares of the company’s stock worth $1,996,000 after acquiring an additional 67,749 shares during the period.

Sunnova Energy International Trading Up 9.8 %

Shares of NOVA opened at $3.70 on Tuesday. The business’s 50-day moving average price is $4.75 and its 200 day moving average price is $6.88. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26. The stock has a market capitalization of $462.33 million, a P/E ratio of -1.10 and a beta of 2.22. Sunnova Energy International has a 1-year low of $2.99 and a 1-year high of $16.35.

Sunnova Energy International (NYSE:NOVA) last released its earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.45). The firm had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $238.23 million. Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The business’s revenue was up 18.6% on a year-over-year basis. During the same period last year, the business earned ($0.53) earnings per share. Analysts expect that Sunnova Energy International will post -2.44 earnings per share 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.