Sunnova Energy International Inc. (NYSE:NOVA) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Sunnova Energy International Inc. (NYSE:NOVA) has been given an average rating of “Moderate Buy” by the twenty-three ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $10.73.

NOVA has been the subject of several recent research reports. Susquehanna boosted their price objective on Sunnova Energy International from $12.00 to $14.00 and gave the company a “positive” rating in a report on Friday, August 2nd. Robert W. Baird decreased their price target on shares of Sunnova Energy International from $18.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Citigroup dropped 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 note on Tuesday, October 22nd. Wolfe Research downgraded shares of Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. Finally, Jefferies Financial Group assumed coverage on shares of Sunnova Energy International in a research report on Thursday, October 10th. They issued a “buy” rating and a $15.00 price target on the stock.

Insider Buying and Selling

In other Sunnova Energy International news, Director Akbar Mohamed bought 50,000 shares of the business’s stock in a transaction on Monday, November 18th. The stock was purchased at an average price of $3.64 per share, for a total transaction of $182,000.00. Following the completion of the transaction, the director now directly owns 352,654 shares of the company’s stock, valued at $1,283,660.56. This trade represents a 16.52 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Eric Michael Williams purchased 13,800 shares of the stock in a transaction dated Monday, November 18th. The stock was acquired at an average cost of $3.60 per share, for a total transaction of $49,680.00. Following the transaction, the chief financial officer now owns 13,800 shares of the company’s stock, valued at approximately $49,680. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 118,517 shares of company stock valued at $439,605. 4.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. DRW Securities LLC purchased a new stake in shares of Sunnova Energy International during the third quarter worth $989,000. Handelsbanken Fonder AB lifted its holdings in Sunnova Energy International by 9.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock worth $71,097,000 after purchasing an additional 611,452 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Sunnova Energy International by 190.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 744,686 shares of the company’s stock worth $7,253,000 after purchasing an additional 488,623 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Sunnova Energy International by 23.4% in 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 purchasing an additional 67,749 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Sunnova Energy International during the 2nd quarter valued at about $1,042,000.

Sunnova Energy International Stock Up 1.3 %

Shares of NYSE NOVA opened at $5.41 on Friday. Sunnova Energy International has a 12-month low of $2.99 and a 12-month high of $16.35. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26. The firm has a market cap of $676.00 million, a PE ratio of -1.61 and a beta of 2.26. The company’s fifty day simple moving average is $6.14 and its 200 day simple moving average is $6.91.

Sunnova Energy International (NYSE:NOVA) last issued its earnings results on Wednesday, October 30th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.45). Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The firm had revenue of $235.30 million during the quarter, compared to analyst estimates of $238.23 million. During the same quarter in the prior year, the business earned ($0.53) earnings per share. The business’s quarterly revenue was up 18.6% on a year-over-year basis. As a group, sell-side analysts forecast that Sunnova Energy International will post -2.37 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.