Sunnova Energy International (NYSE:NOVA) Earns "Market Perform" Rating from BMO Capital Markets

Sunnova Energy International (NYSE:NOVA - Get Free Report)'s stock had its "market perform" rating reaffirmed by stock analysts at BMO Capital Markets in a research report issued on Friday, Benzinga reports. They currently have a $8.00 price target on the stock, down from their prior price target of $10.00. BMO Capital Markets' price objective would suggest a potential upside of 39.86% from the stock's previous close.

Several other equities analysts have also weighed in on NOVA. Robert W. Baird cut their price target on Sunnova Energy International from $18.00 to $12.00 and set an "outperform" rating for the company in a research note on Friday. Jefferies Financial Group assumed coverage on Sunnova Energy International in a research note on Thursday, October 10th. They set a "buy" rating and a $15.00 target price for the company. The Goldman Sachs Group increased their target price on Sunnova Energy International from $10.00 to $13.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft cut their price target on shares of Sunnova Energy International from $9.00 to $6.25 and set a "hold" rating for the company in a report on Friday. Finally, Truist Financial increased their price objective on shares of Sunnova Energy International from $9.00 to $10.00 and gave the company a "buy" rating in a report on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Sunnova Energy International has an average rating of "Moderate Buy" and an average target price of $11.61.

Sunnova Energy International Stock Performance

Shares of NOVA traded down $0.35 during mid-day trading on Friday, reaching $5.72. The company had a trading volume of 8,257,743 shares, compared to its average volume of 7,759,456. The stock has a 50 day moving average of $8.80 and a two-hundred day moving average of $6.85. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 3.11. The stock has a market capitalization of $714.20 million, a P/E ratio of -1.70 and a beta of 2.21. Sunnova Energy International has a 52-week low of $3.37 and a 52-week high of $16.35.

Sunnova Energy International (NYSE:NOVA - Get Free Report) last issued its quarterly earnings data 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 11.46% and a negative net margin of 51.02%. The firm 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 business earned ($0.53) EPS. Sunnova Energy International's revenue for the quarter was up 18.6% compared to the same quarter last year. On average, analysts expect that Sunnova Energy International will post -1.99 earnings per share for the current year.

Insider Buying and Selling at Sunnova Energy International

In other Sunnova Energy International news, insider William J. Berger sold 77,000 shares of the firm's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $11.31, for a total transaction of $870,870.00. Following the completion of the sale, the insider now owns 409,045 shares of the company's stock, valued at $4,626,298.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Sunnova Energy International by 56.7% during 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 buying an additional 5,118,552 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Sunnova Energy International by 0.8% in the first quarter. Vanguard Group Inc. now owns 10,568,045 shares of the company's stock valued at $64,782,000 after purchasing an additional 81,653 shares during the period. Handelsbanken Fonder AB boosted 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 purchasing an additional 611,452 shares during the period. Sylebra Capital LLC acquired a new position in Sunnova Energy International during the 2nd quarter worth $30,783,000. Finally, Electron Capital Partners LLC increased its holdings in Sunnova Energy International by 24.5% during the 2nd quarter. Electron Capital Partners LLC now owns 3,004,938 shares of the company's stock worth $16,768,000 after purchasing an additional 591,514 shares during the period.

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.