Sunnova Energy International Inc. (NYSE:NOVA) Receives $10.89 Average Price Target from Brokerages

Shares of Sunnova Energy International Inc. (NYSE:NOVA - Get Free Report) have earned an average recommendation of "Moderate Buy" from the twenty-three ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and thirteen have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $10.73.

NOVA has been the topic of several research reports. Truist Financial lifted their price target 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. Wolfe Research cut shares of Sunnova Energy International from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 4th. BNP Paribas cut Sunnova Energy International from a "neutral" rating to an "underperform" rating and set a $3.50 price target for the company. in a research note on Friday, November 8th. Susquehanna boosted their price objective on Sunnova Energy International from $12.00 to $14.00 and gave the stock a "positive" rating in a research report on Friday, August 2nd. Finally, Morgan Stanley dropped their target price on Sunnova Energy International from $12.00 to $6.00 and set an "equal weight" rating for the company in a research report on Friday, November 15th.

Insider Activity

In other Sunnova Energy International news, CFO Eric Michael Williams bought 13,800 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The shares were bought at an average price of $3.60 per share, for a total transaction of $49,680.00. Following the transaction, the chief financial officer now directly owns 13,800 shares in the company, valued at $49,680. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Akbar Mohamed purchased 50,000 shares of Sunnova Energy International stock in a transaction that occurred on Monday, November 18th. The shares were bought at an average price of $3.64 per share, for a total transaction of $182,000.00. Following the completion of the transaction, the director now owns 352,654 shares in the company, valued at $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. Over the last ninety days, insiders bought 118,517 shares of company stock worth $439,605. 4.50% of the stock is owned by company insiders.

Institutional Trading of Sunnova Energy International

A number of institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC raised its holdings in Sunnova Energy International by 43.6% during the 1st quarter. SG Americas Securities LLC now owns 35,168 shares of the company's stock valued at $216,000 after buying an additional 10,682 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Sunnova Energy International by 14.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 33,033 shares of the company's stock valued at $202,000 after acquiring an additional 4,200 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Sunnova Energy International by 0.8% during the first quarter. Vanguard Group Inc. now owns 10,568,045 shares of the company's stock worth $64,782,000 after purchasing an additional 81,653 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Sunnova Energy International by 18.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 290,032 shares of the company's stock worth $1,778,000 after purchasing an additional 46,198 shares during the period. Finally, Westwood Holdings Group Inc. grew its stake in shares of Sunnova Energy International by 3,168.8% in the first quarter. Westwood Holdings Group Inc. now owns 574,127 shares of the company's stock worth $3,519,000 after purchasing an additional 556,563 shares during the last quarter.

Sunnova Energy International Price Performance

Sunnova Energy International stock traded up $0.52 during trading hours on Friday, reaching $4.90. 14,437,096 shares of the stock were exchanged, compared to its average volume of 8,408,318. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26. Sunnova Energy International has a twelve month low of $2.99 and a twelve month high of $16.35. The company has a market cap of $611.63 million, a P/E ratio of -1.37 and a beta of 2.26. The stock has a 50 day moving average of $6.79 and a two-hundred day moving average of $6.88.

Sunnova Energy International (NYSE:NOVA - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share (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 the consensus estimate of $238.23 million. During the same quarter in the previous year, the business posted ($0.53) EPS. The company's revenue for the quarter was up 18.6% on a year-over-year basis. Equities analysts expect that Sunnova Energy International will post -2.29 EPS 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.