Analysts Set Sunnova Energy International Inc. (NYSE:NOVA) Target Price at $19.54

Shares of Sunnova Energy International Inc. (NYSE:NOVA) have been assigned an average recommendation of “Moderate Buy” from the twenty-two brokerages that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $19.46.

Several brokerages have weighed in on NOVA. The Goldman Sachs Group dropped their price objective on Sunnova Energy International from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, April 11th. Piper Sandler upgraded Sunnova Energy International from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $13.00 to $26.00 in a research note on Tuesday, December 19th. B. Riley lowered their target price on Sunnova Energy International from $25.00 to $21.00 and set a “buy” rating on the stock in a research note on Monday, February 5th. Northland Securities reiterated a “market perform” rating and set a $9.00 target price (down from $12.00) on shares of Sunnova Energy International in a research note on Friday, February 23rd. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $14.00 target price (down from $24.00) on shares of Sunnova Energy International in a research note on Monday, March 4th.

Sunnova Energy International Price Performance

Shares of NYSE:NOVA opened at $4.10 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.58. The stock’s fifty day simple moving average is $6.93 and its two-hundred day simple moving average is $9.68. Sunnova Energy International has a 1-year low of $3.80 and a 1-year high of $24.56. The stock has a market cap of $507.74 million, a PE ratio of -1.17 and a beta of 2.08.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings data on Wednesday, February 21st. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.04. Sunnova Energy International had a negative return on equity of 13.26% and a negative net margin of 58.00%. The business had revenue of $194.18 million for the quarter, compared to analysts’ expectations of $226.09 million. As a group, analysts forecast that Sunnova Energy International will post -2.28 EPS for the current fiscal year.

Insider Buying and Selling at Sunnova Energy International

In related news, Director Akbar Mohamed bought 152,450 shares of Sunnova Energy International stock in a transaction on Wednesday, February 28th. The stock was acquired at an average price of $6.92 per share, with a total value of $1,054,954.00. Following the acquisition, the director now directly owns 236,139 shares of the company’s stock, valued at $1,634,081.88. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Akbar Mohamed bought 152,450 shares of Sunnova Energy International stock in a transaction on Wednesday, February 28th. The stock was acquired at an average price of $6.92 per share, with a total value of $1,054,954.00. Following the acquisition, the director now directly owns 236,139 shares of the company’s stock, valued at $1,634,081.88. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul S. Mathews sold 9,500 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $5.31, for a total value of $50,445.00. Following the transaction, the insider now directly owns 14,007 shares of the company’s stock, valued at approximately $74,377.17. The disclosure for this sale can be found here. Insiders sold 23,580 shares of company stock valued at $137,382 in the last quarter. 4.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NOVA. Advisor Group Holdings Inc. grew its holdings in shares of Sunnova Energy International by 23.4% during the first quarter. Advisor Group Holdings Inc. now owns 4,788 shares of the company’s stock worth $387,000 after purchasing an additional 907 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Sunnova Energy International by 185.3% during the first quarter. Raymond James & Associates now owns 41,819 shares of the company’s stock worth $964,000 after purchasing an additional 27,160 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Sunnova Energy International by 199.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 47,501 shares of the company’s stock worth $1,095,000 after purchasing an additional 31,646 shares in the last quarter. US Bancorp DE grew its holdings in shares of Sunnova Energy International by 168.8% during the first quarter. US Bancorp DE now owns 2,809 shares of the company’s stock worth $65,000 after purchasing an additional 1,764 shares in the last quarter. Finally, MetLife Investment Management LLC grew its holdings in shares of Sunnova Energy International by 53.6% during the first quarter. MetLife Investment Management LLC now owns 47,065 shares of the company’s stock worth $1,085,000 after purchasing an additional 16,426 shares in 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.