Sunnova Energy International (NYSE:NOVA) Price Target Raised to $10.00

Sunnova Energy International (NYSE:NOVA) had its price target raised by equities research analysts at BMO Capital Markets from $9.00 to $10.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ price target suggests a potential upside of 57.73% from the company’s previous close.

A number of other equities research analysts also recently commented on the company. Susquehanna raised their target price on Sunnova Energy International from $12.00 to $14.00 and gave the company a “positive” rating in a report on Friday, August 2nd. Royal Bank of Canada raised their price objective on shares of Sunnova Energy International from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Robert W. Baird increased their target price on shares of Sunnova Energy International from $12.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. The Goldman Sachs Group lifted their price target on shares of Sunnova Energy International from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Piper Sandler upped their price target on Sunnova Energy International from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.75.

Sunnova Energy International Stock Performance

Shares of NOVA stock traded down $0.23 during mid-day trading on Monday, hitting $6.34. The stock had a trading volume of 3,633,302 shares, compared to its average volume of 7,672,968. Sunnova Energy International has a fifty-two week low of $3.37 and a fifty-two week high of $16.35. The company has a debt-to-equity ratio of 3.11, a current ratio of 0.97 and a quick ratio of 0.97. The company’s 50-day simple moving average is $9.53 and its 200-day simple moving average is $6.83. The firm has a market cap of $786.05 million, a PE ratio of -1.88 and a beta of 2.21.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.27. Sunnova Energy International had a negative return on equity of 8.85% and a negative net margin of 45.76%. The company had revenue of $219.60 million for the quarter, compared to analyst estimates of $220.38 million. During the same quarter in the previous year, the company earned ($0.74) EPS. The firm’s revenue for the quarter was up 32.0% compared to the same quarter last year. Sell-side analysts anticipate that Sunnova Energy International will post -1.86 earnings per share for the current year.

Insider Buying and Selling at Sunnova Energy International

In related news, insider William J. Berger sold 77,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $11.31, for a total transaction of $870,870.00. Following the transaction, the insider now directly owns 409,045 shares in the company, valued at approximately $4,626,298.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sunnova Energy International

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Sunnova Energy International by 56.7% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 14,142,487 shares of the company’s stock worth $78,915,000 after purchasing an additional 5,118,552 shares during the period. Vanguard Group Inc. increased its position in Sunnova Energy International by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 10,568,045 shares of the company’s stock worth $64,782,000 after purchasing an additional 81,653 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in Sunnova Energy International by 9.1% in 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. Sylebra Capital LLC acquired a new position in Sunnova Energy International during the second quarter valued at approximately $30,783,000. Finally, Electron Capital Partners LLC lifted its position in Sunnova Energy International by 24.5% during the second quarter. Electron Capital Partners LLC now owns 3,004,938 shares of the company’s stock valued at $16,768,000 after buying an additional 591,514 shares in the last quarter.

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.