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

Sunnova Energy International Inc. (NYSE:NOVA) has been given a consensus recommendation of “Moderate Buy” by the twenty-five analysts that are presently covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $15.73.

Several research firms recently issued reports on NOVA. Piper Sandler downgraded Sunnova Energy International from an “overweight” rating to a “neutral” rating and cut their target price for the company from $9.00 to $4.50 in a research report on Tuesday, May 21st. BMO Capital Markets cut their target price on Sunnova Energy International from $10.00 to $6.00 and set a “market perform” rating on the stock in a research report on Friday, May 3rd. B. Riley cut their target price on Sunnova Energy International from $21.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Evercore ISI cut their target price on Sunnova Energy International from $26.00 to $17.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Finally, Scotiabank cut their target price on Sunnova Energy International from $20.00 to $10.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 29th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ballentine Partners LLC purchased a new position in Sunnova Energy International in the 4th quarter valued at about $161,000. Vanguard Group Inc. lifted its stake in Sunnova Energy International by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 10,270,487 shares of the company’s stock worth $107,532,000 after purchasing an additional 379,032 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Sunnova Energy International by 7.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 842,130 shares of the company’s stock worth $12,842,000 after purchasing an additional 61,953 shares in the last quarter. Van ECK Associates Corp lifted its stake in Sunnova Energy International by 124.4% in the 4th quarter. Van ECK Associates Corp now owns 1,563,320 shares of the company’s stock worth $23,841,000 after purchasing an additional 866,705 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in Sunnova Energy International in the 4th quarter worth approximately $199,000.

Sunnova Energy International Stock Performance

Shares of NOVA opened at $6.00 on Tuesday. Sunnova Energy International has a 12 month low of $3.37 and a 12 month high of $24.56. The stock has a fifty day moving average price of $4.60 and a 200-day moving average price of $7.81. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 3.41. The firm has a market cap of $743.88 million, a PE ratio of -1.78 and a beta of 2.19.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.57) EPS for the quarter, beating the consensus estimate of ($0.79) by $0.22. Sunnova Energy International had a negative return on equity of 12.10% and a negative net margin of 56.52%. The firm had revenue of $160.90 million during the quarter, compared to analyst estimates of $193.78 million. During the same quarter in the prior year, the business posted ($0.70) EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. Equities research analysts predict that Sunnova Energy International will post -2 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.