Sunnova Energy International Inc. (NYSE:NOVA) Receives $16.71 Average PT from Analysts

Sunnova Energy International Inc. (NYSE:NOVA) has been assigned an average recommendation of “Moderate Buy” from the twenty-five ratings firms that are presently covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation, seventeen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $16.71.

A number of equities analysts recently issued reports on NOVA shares. The Goldman Sachs Group decreased their target price on Sunnova Energy International from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, April 11th. Evercore ISI decreased their target price on shares of Sunnova Energy International from $26.00 to $17.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. 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 on the stock in a research report on Friday, May 3rd. Robert W. Baird reduced their price target on shares of Sunnova Energy International from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Finally, B. Riley lowered their price objective on shares of Sunnova Energy International from $21.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd.

Insider Transactions at Sunnova Energy International

In other Sunnova Energy International news, Director Akbar Mohamed bought 152,450 shares of the stock in a transaction on Wednesday, February 28th. The shares were purchased at an average cost of $6.92 per share, with a total value of $1,054,954.00. Following the completion of the transaction, the director now directly owns 236,139 shares of the company’s stock, valued at approximately $1,634,081.88. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Jack O. Lynch III sold 12,994 shares of Sunnova Energy International stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $6.21, for a total value of $80,692.74. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Akbar Mohamed acquired 152,450 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were purchased at an average cost of $6.92 per share, with a total value of $1,054,954.00. Following the completion of the acquisition, the director now owns 236,139 shares in the company, valued at approximately $1,634,081.88. The disclosure for this purchase can be found here. Insiders have sold a total of 23,580 shares of company stock worth $137,382 in the last 90 days. 4.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NOVA. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Sunnova Energy International in the 1st quarter worth approximately $25,000. Manchester Capital Management LLC increased its position in Sunnova Energy International by 2,959.7% during the fourth quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock worth $29,000 after acquiring an additional 1,835 shares during the period. First Trust Direct Indexing L.P. acquired a new position in Sunnova Energy International during the 1st quarter valued at $66,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Sunnova Energy International by 129.9% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,788 shares of the company’s stock valued at $72,000 after purchasing an additional 6,661 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in Sunnova Energy International by 158.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,036 shares of the company’s stock worth $74,000 after purchasing an additional 4,310 shares during the last quarter.

Sunnova Energy International Stock Performance

Shares of NOVA opened at $4.11 on Monday. Sunnova Energy International has a 52-week low of $3.37 and a 52-week high of $24.56. The firm has a market capitalization of $508.94 million, a PE ratio of -1.20 and a beta of 2.15. The firm has a 50-day moving average price of $4.96 and a 200 day moving average price of $9.03. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 3.41.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.57) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.79) by $0.22. Sunnova Energy International had a negative return on equity of 12.10% and a negative net margin of 56.52%. The company had revenue of $160.90 million for the quarter, compared to analysts’ expectations of $193.78 million. During the same period last year, the firm earned ($0.70) EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, sell-side analysts anticipate that Sunnova Energy International will post -2.39 earnings per share for the current fiscal 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.