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

Shares of Sunnova Energy International Inc. (NYSE:NOVA) have been given an average recommendation of “Moderate Buy” by the twenty-three brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $10.89.

NOVA has been the topic of several research reports. Wolfe Research lowered shares of Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. Barclays cut their price target on Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Robert W. Baird reduced their price objective on shares of Sunnova Energy International from $18.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. BNP Paribas downgraded Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 target price on the stock. in a report on Friday, November 8th. Finally, Truist Financial upped their price target on Sunnova Energy International from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, July 29th.

Sunnova Energy International Stock Up 1.2 %

Shares of NYSE:NOVA opened at $4.28 on Friday. The company has a market capitalization of $534.77 million, a P/E ratio of -1.28 and a beta of 2.26. The stock’s fifty day simple moving average is $6.79 and its 200-day simple moving average is $6.88. Sunnova Energy International has a 52-week low of $2.99 and a 52-week high of $16.35. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26.

Sunnova Energy International (NYSE:NOVA) last released 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 net margin of 51.02% and a negative return on equity of 11.15%. The business had revenue of $235.30 million during the quarter, compared to analyst estimates of $238.23 million. During the same quarter in the previous year, the company posted ($0.53) earnings per share. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. As a group, equities research analysts forecast that Sunnova Energy International will post -2.29 earnings per share for the current fiscal year.

Insider Activity at Sunnova Energy International

In other Sunnova Energy International news, CFO Eric Michael Williams purchased 13,800 shares of the business’s stock in a transaction on Monday, November 18th. The stock was bought at an average cost of $3.60 per share, with a total value of $49,680.00. Following the acquisition, the chief financial officer now owns 13,800 shares of the company’s stock, valued at $49,680. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Akbar Mohamed acquired 50,000 shares of the stock in a transaction dated Monday, November 18th. The stock was acquired at an average cost of $3.64 per share, for a total transaction of $182,000.00. Following the purchase, the director now directly owns 352,654 shares in the company, valued at approximately $1,283,660.56. The trade was a 16.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 118,517 shares of company stock worth $439,605 in the last 90 days. Corporate insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Sunnova Energy International

Several large investors have recently modified their holdings of the stock. Peoples Bank KS purchased a new stake in shares of Sunnova Energy International in the 2nd quarter valued at approximately $56,000. Caxton Associates LP purchased a new stake in shares of Sunnova Energy International in the first quarter valued at $62,000. Presidio Capital Management LLC acquired a new stake in shares of Sunnova Energy International in the second quarter worth $67,000. nVerses Capital LLC raised its position in Sunnova Energy International by 237.8% during the second quarter. nVerses Capital LLC now owns 12,500 shares of the company’s stock valued at $70,000 after buying an additional 8,800 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Sunnova Energy International during the second quarter valued at $78,000.

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.