Brokerages Set Sunnova Energy International Inc. (NYSE:NOVA) PT at $15.14

Sunnova Energy International Inc. (NYSE:NOVA) has earned an average rating of “Moderate Buy” from the twenty-five analysts that are presently covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $15.14.

A number of research firms recently weighed in on NOVA. Truist Financial upped their price target on Sunnova Energy International from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Guggenheim upped their target price on Sunnova Energy International from $7.00 to $10.00 and gave the company a “buy” rating in a report on Friday, July 26th. Piper Sandler lifted their price target on Sunnova Energy International from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Morgan Stanley lowered their price objective on shares of Sunnova Energy International from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Friday, June 14th. Finally, Scotiabank lifted their target price on shares of Sunnova Energy International from $10.00 to $14.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 6th.

Sunnova Energy International Price Performance

Shares of NYSE NOVA opened at $8.59 on Wednesday. The company’s fifty day moving average is $6.64 and its two-hundred day moving average is $6.20. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a market capitalization of $1.07 billion, a P/E ratio of -2.55 and a beta of 2.19. Sunnova Energy International has a one year low of $3.37 and a one year high of $16.35.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.27. Sunnova Energy International had a negative net margin of 45.76% and a negative return on equity of 9.28%. The firm had revenue of $219.60 million for the quarter, compared to the consensus estimate of $220.38 million. During the same quarter in the previous year, the firm earned ($0.74) earnings per share. The firm’s revenue was up 32.0% on a year-over-year basis. Analysts forecast that Sunnova Energy International will post -1.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Sunnova Energy International during the first quarter worth approximately $25,000. Manchester Capital Management LLC increased its position in shares of Sunnova Energy International by 2,959.7% in the 4th quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock worth $29,000 after purchasing an additional 1,835 shares during the last quarter. Peoples Bank KS bought a new stake in shares of Sunnova Energy International in the 2nd quarter worth about $56,000. Caxton Associates LP acquired a new stake in shares of Sunnova Energy International in the 1st quarter valued at about $62,000. Finally, First Trust Direct Indexing L.P. bought a new position in shares of Sunnova Energy International during the first quarter worth about $66,000.

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.