Analysts Set Sunnova Energy International Inc. (NYSE:NOVA) Target Price at $15.26

Shares of Sunnova Energy International Inc. (NYSE:NOVA) have been given an average recommendation of “Moderate Buy” by the twenty-five analysts that are covering the stock, MarketBeat reports. Eight analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $15.26.

Several brokerages have recently weighed in on NOVA. The Goldman Sachs Group raised their target price on Sunnova Energy International from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Wells Fargo & Company raised their price objective on Sunnova Energy International from $6.00 to $9.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 6th. Scotiabank upped their target price on Sunnova Energy International from $10.00 to $14.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 6th. Guggenheim raised their price target on shares of Sunnova Energy International from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada upped their price target on shares of Sunnova Energy International from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Monday, August 5th.

Sunnova Energy International Stock Performance

Shares of NYSE:NOVA opened at $11.50 on Friday. The business’s 50-day simple moving average is $8.70 and its 200 day simple moving average is $6.30. The company has a market cap of $1.43 billion, a P/E ratio of -3.41 and a beta of 2.22. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.97 and a current ratio of 0.97. 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 posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.27. The company had revenue of $219.60 million for the quarter, compared to analyst estimates of $220.38 million. Sunnova Energy International had a negative net margin of 45.76% and a negative return on equity of 8.85%. The business’s quarterly revenue was up 32.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.74) earnings per share. On average, sell-side analysts forecast that Sunnova Energy International will post -1.8 earnings per share for the current fiscal year.

Insider Transactions at Sunnova Energy International

In other Sunnova Energy International news, insider William J. Berger sold 77,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $11.31, for a total transaction of $870,870.00. Following the completion of the transaction, the insider now directly owns 409,045 shares of the company’s stock, valued at approximately $4,626,298.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Manchester Capital Management LLC increased its holdings in shares of 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 valued at $29,000 after purchasing an additional 1,835 shares during the period. Peoples Bank KS bought a new position in Sunnova Energy International in the 2nd quarter valued at about $56,000. Caxton Associates LP acquired a new position in Sunnova Energy International during the 1st quarter valued at about $62,000. First Trust Direct Indexing L.P. bought a new stake in shares of Sunnova Energy International during the 1st quarter worth about $66,000. Finally, Presidio Capital Management LLC acquired a new stake in shares of Sunnova Energy International in the 2nd quarter worth approximately $67,000.

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.