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

Sunnova Energy International Inc. (NYSE:NOVA) has been given an average recommendation of “Hold” by the twenty-four ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $9.58.

A number of analysts have weighed in on NOVA shares. Piper Sandler cut their target price on shares of Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating on the stock in a research report on Friday, November 22nd. BNP Paribas downgraded Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 price objective for the company. in a research note on Friday, November 8th. Royal Bank of Canada downgraded shares of Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a research report on Monday, December 9th. Morgan Stanley dropped their price target on shares of Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating for the company in a research note on Friday, November 15th. Finally, Susquehanna cut shares of Sunnova Energy International from a “positive” rating to a “neutral” rating and reduced their price objective for the stock from $14.00 to $4.50 in a research note on Friday.

Sunnova Energy International Price Performance

Sunnova Energy International stock opened at $3.43 on Friday. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86. Sunnova Energy International has a 52 week low of $2.99 and a 52 week high of $13.00. The stock has a market capitalization of $428.59 million, a P/E ratio of -1.02 and a beta of 2.29. The stock has a fifty day moving average of $4.21 and a 200-day moving average of $6.72.

Sunnova Energy International (NYSE:NOVA) last issued its earnings results on Wednesday, October 30th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate 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 business had revenue of $235.30 million for the quarter, compared to analyst estimates of $238.23 million. During the same period in the previous year, the firm posted ($0.53) EPS. The firm’s revenue was up 18.6% compared to the same quarter last year. On average, sell-side analysts expect that Sunnova Energy International will post -2.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Sunnova Energy International news, Director Akbar Mohamed acquired 54,717 shares of Sunnova Energy International stock in a transaction on Friday, November 15th. The stock was purchased at an average price of $3.80 per share, for a total transaction of $207,924.60. Following the purchase, the director now directly owns 302,654 shares of the company’s stock, valued at $1,150,085.20. This trade represents a 22.07 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Eric Michael Williams bought 13,800 shares of the stock in a transaction dated Monday, November 18th. The shares were acquired at an average price of $3.60 per share, for a total transaction of $49,680.00. Following the completion of the purchase, the chief financial officer now directly owns 13,800 shares in the company, valued at approximately $49,680. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 118,517 shares of company stock worth $439,605 in the last quarter. Insiders own 4.50% of the company’s stock.

Institutional Trading of Sunnova Energy International

A number of large investors have recently added to or reduced their stakes in NOVA. Mercer Global Advisors Inc. ADV bought a new position in shares of Sunnova Energy International during the 2nd quarter valued at approximately $78,000. AE Wealth Management LLC bought a new stake in shares of Sunnova Energy International in the second quarter valued at $81,000. GAMMA Investing LLC raised its stake in Sunnova Energy International by 736.3% in the 3rd quarter. GAMMA Investing LLC now owns 8,756 shares of the company’s stock valued at $85,000 after acquiring an additional 7,709 shares during the period. Ballentine Partners LLC raised its position in shares of Sunnova Energy International by 72.2% in the second quarter. Ballentine Partners LLC now owns 18,559 shares of the company’s stock valued at $104,000 after purchasing an additional 7,783 shares during the period. Finally, Creative Planning bought a new stake in Sunnova Energy International during the 3rd quarter valued at $107,000.

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.