Mizuho Initiates Coverage on Sunnova Energy International (NYSE:NOVA)

Analysts at Mizuho started coverage on shares of Sunnova Energy International (NYSE:NOVAGet Free Report) in a report issued on Tuesday, Briefing.com reports. The firm set a “buy” rating and a $20.00 price target on the stock. Mizuho’s target price indicates a potential upside of 81.82% from the stock’s previous close.

NOVA has been the topic of several other reports. Raymond James cut their target price on shares of Sunnova Energy International from $30.00 to $25.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, October 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $12.50 target price (down from $23.00) on shares of Sunnova Energy International in a research report on Friday, October 20th. BNP Paribas initiated coverage on Sunnova Energy International in a report on Friday, October 20th. They issued a “neutral” rating and a $14.00 price target on the stock. BMO Capital Markets reduced their price objective on Sunnova Energy International from $25.00 to $21.00 in a research note on Monday, July 31st. Finally, Truist Financial lowered Sunnova Energy International from a “buy” rating to a “hold” rating and lowered their target price for the stock from $35.00 to $11.00 in a research report on Wednesday, October 4th. Six analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Sunnova Energy International has an average rating of “Moderate Buy” and an average target price of $22.86.

View Our Latest Stock Analysis on NOVA

Sunnova Energy International Stock Up 2.5 %

Shares of NYSE:NOVA opened at $11.00 on Tuesday. The business’s 50-day moving average is $10.18 and its 200-day moving average is $14.58. Sunnova Energy International has a 1 year low of $7.61 and a 1 year high of $24.56. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of -5.12 and a beta of 2.14. The company has a debt-to-equity ratio of 3.23, a current ratio of 1.14 and a quick ratio of 1.14.

Sunnova Energy International (NYSE:NOVAGet Free Report) last issued its quarterly earnings results on Wednesday, October 25th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.19). The business had revenue of $198.40 million during the quarter, compared to analyst estimates of $197.21 million. Sunnova Energy International had a negative net margin of 34.79% and a negative return on equity of 14.83%. Equities research analysts predict that Sunnova Energy International will post -1.86 earnings per share for the current year.

Hedge Funds Weigh In On Sunnova Energy International

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Captrust Financial Advisors raised its position in Sunnova Energy International by 236.4% in the first quarter. Captrust Financial Advisors now owns 1,487 shares of the company’s stock worth $34,000 after acquiring an additional 1,045 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in shares of Sunnova Energy International by 108.9% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 2,302 shares of the company’s stock worth $36,000 after purchasing an additional 1,200 shares during the period. Quarry LP purchased a new position in Sunnova Energy International in the first quarter valued at approximately $36,000. Register Financial Advisors LLC bought a new position in Sunnova Energy International during the second quarter valued at $37,000. Finally, Allspring Global Investments Holdings LLC increased its position in Sunnova Energy International by 34.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,726 shares of the company’s stock worth $50,000 after buying an additional 700 shares during the last quarter.

Sunnova Energy International Company Profile

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Sunnova Energy International Inc provides 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 diagnostics services. As of December 31, 2022, it operated a fleet of residential solar energy systems with a generation capacity of approximately 1,627 megawatts serving over 279,000 customers.

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Analyst Recommendations for Sunnova Energy International (NYSE:NOVA)

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