Analysts Set Sunnova Energy International Inc. (NYSE:NOVA) Price Target at $9.58

Sunnova Energy International Inc. (NYSE:NOVA) has been given a consensus recommendation of “Hold” by the twenty-four research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $9.58.

A number of research analysts have recently weighed in on NOVA shares. BNP Paribas downgraded shares of Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 target price for the company. in a research report on Friday, November 8th. The Goldman Sachs Group lowered their target price on Sunnova Energy International from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, December 17th. Royal Bank of Canada downgraded Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a research note on Monday, December 9th. Morgan Stanley lowered their price objective on Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Sunnova Energy International from $9.00 to $6.25 and set a “hold” rating for the company in a research report on Friday, November 1st.

Insider Activity at Sunnova Energy International

In other news, CFO Eric Michael Williams acquired 13,800 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was purchased at an average cost of $3.60 per share, for a total transaction of $49,680.00. Following the acquisition, the chief financial officer now owns 13,800 shares of the company’s stock, valued at $49,680. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Akbar Mohamed acquired 54,717 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average cost of $3.80 per share, for a total transaction of $207,924.60. Following the completion of the acquisition, the director now owns 302,654 shares in the company, valued at $1,150,085.20. This represents a 22.07 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 118,517 shares of company stock valued at $439,605 over the last three months. 4.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of 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 in the 3rd quarter valued at $989,000. Erste Asset Management GmbH purchased a new stake in Sunnova Energy International during the third quarter valued at about $76,550,000. Handelsbanken Fonder AB boosted its position in Sunnova Energy International by 9.1% during the third quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock valued at $71,097,000 after buying an additional 611,452 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Sunnova Energy International by 190.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 744,686 shares of the company’s stock valued at $7,253,000 after buying an additional 488,623 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Sunnova Energy International by 23.4% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 357,781 shares of the company’s stock worth $1,996,000 after buying an additional 67,749 shares during the period.

Sunnova Energy International Stock Down 3.7 %

NOVA stock opened at $3.16 on Friday. The stock has a market cap of $394.85 million, a P/E ratio of -0.94 and a beta of 2.29. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26. The stock’s fifty day simple moving average is $4.07 and its two-hundred day simple moving average is $6.69. Sunnova Energy International has a 1-year low of $2.99 and a 1-year high of $13.00.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.45). Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The company had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $238.23 million. During the same period last year, the firm posted ($0.53) earnings per share. Sunnova Energy International’s quarterly revenue was up 18.6% compared to the same quarter last year. Analysts expect that Sunnova Energy International will post -2.44 EPS for the current year.

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.