Sunnova Energy International Inc. (NYSE:NOVA) Receives Consensus Recommendation of “Hold” from Analysts

Sunnova Energy International Inc. (NYSE:NOVA) has been assigned a consensus recommendation of “Hold” from the twenty-three ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $10.73.

Several research firms have recently commented on NOVA. Robert W. Baird reduced 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 report on Friday, November 1st. Royal Bank of Canada cut shares of Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a report on Monday, December 9th. Guggenheim cut shares of Sunnova Energy International from a “buy” rating to a “neutral” rating in a research note on Thursday, November 7th. BMO Capital Markets restated a “market perform” rating and issued a $8.00 price objective (down from $10.00) on shares of Sunnova Energy International in a research note on Friday, November 1st. Finally, Barclays lowered their target price on Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th.

Sunnova Energy International Stock Performance

Shares of NOVA stock opened at $3.99 on Tuesday. 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 company has a 50 day moving average price of $4.99 and a 200-day moving average price of $6.95. Sunnova Energy International has a 52 week low of $2.99 and a 52 week high of $16.35. The firm has a market capitalization of $498.56 million, a PE ratio of -1.19 and a beta of 2.22.

Sunnova Energy International (NYSE:NOVA) last posted its earnings results on Wednesday, October 30th. The company reported ($0.98) EPS 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 the consensus estimate of $238.23 million. During the same period last year, the firm posted ($0.53) EPS. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. As a group, equities research analysts expect that Sunnova Energy International will post -2.44 earnings per share for the current year.

Insider Buying and Selling

In other Sunnova Energy International news, CFO Eric Michael Williams purchased 13,800 shares of Sunnova Energy International stock in a transaction dated Monday, November 18th. The stock was acquired at an average price 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 in the company, valued at $49,680. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Akbar Mohamed purchased 54,717 shares of the stock in a transaction dated Friday, November 15th. The stock was acquired at an average cost of $3.80 per share, with a total value of $207,924.60. Following the transaction, the director now directly owns 302,654 shares in the company, valued at approximately $1,150,085.20. This trade represents a 22.07 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 118,517 shares of company stock valued at $439,605 over the last quarter. 4.50% of the stock is owned by corporate insiders.

Institutional Trading of Sunnova Energy International

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC boosted its holdings in shares of Sunnova Energy International by 55.8% in the 2nd quarter. SG Americas Securities LLC now owns 54,783 shares of the company’s stock valued at $306,000 after buying an additional 19,615 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Sunnova Energy International by 87,558.3% during the second quarter. Nisa Investment Advisors LLC now owns 105,190 shares of the company’s stock valued at $587,000 after acquiring an additional 105,070 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Sunnova Energy International by 13.9% in the second quarter. Bank of New York Mellon Corp now owns 394,812 shares of the company’s stock valued at $2,203,000 after acquiring an additional 48,119 shares in the last quarter. Presidio Capital Management LLC purchased a new position in Sunnova Energy International in the second quarter worth $67,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in shares of Sunnova Energy International by 136.6% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 237,203 shares of the company’s stock worth $1,324,000 after purchasing an additional 136,968 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.