Sunnova Energy International Inc. (NYSE:NOVA) Receives $9.60 Consensus Price Target from Brokerages

Shares of Sunnova Energy International Inc. (NYSE:NOVA - Get Free Report) have earned an average rating of "Hold" from the twenty-five analysts that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $9.03.

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley reduced their price target on shares of Sunnova Energy International from $12.00 to $6.00 and set an "equal weight" rating on the stock in a research note on Friday, November 15th. The Goldman Sachs Group decreased their price target on Sunnova Energy International from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft dropped their price objective on Sunnova Energy International from $9.00 to $6.25 and set a "hold" rating for the company in a research note on Friday, November 1st. Piper Sandler lowered their target price on Sunnova Energy International from $8.00 to $4.50 and set a "neutral" rating for the company in a report on Friday, November 22nd. Finally, Wells Fargo & Company dropped their target price on Sunnova Energy International from $8.00 to $4.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 8th.

Sunnova Energy International Trading Down 9.4 %

Sunnova Energy International stock traded down $0.22 during midday trading on Wednesday, hitting $2.07. 11,259,891 shares of the stock were exchanged, compared to its average volume of 9,759,368. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26. The stock's 50-day simple moving average is $3.52 and its 200 day simple moving average is $6.18. Sunnova Energy International has a fifty-two week low of $2.00 and a fifty-two week high of $13.00. The stock has a market capitalization of $258.02 million, a price-to-earnings ratio of -0.62 and a beta of 2.28.

Insider Activity at Sunnova Energy International

In other Sunnova Energy International news, Director Akbar Mohamed purchased 54,717 shares of the firm's stock in a transaction that occurred 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 in the company, valued at approximately $1,150,085.20. This trade represents a 22.07 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Eric Michael Williams acquired 13,800 shares of the stock in a transaction on Monday, November 18th. The shares were acquired at an average cost of $3.60 per share, for a total transaction of $49,680.00. Following the completion of the transaction, the chief financial officer now directly owns 13,800 shares in the company, valued at $49,680. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 118,517 shares of company stock valued at $439,605 in the last three months. 4.50% of the stock is currently owned by company insiders.

Institutional Trading of Sunnova Energy International

A number of hedge funds have recently added to or reduced their stakes in NOVA. Fox Run Management L.L.C. acquired a new stake in shares of Sunnova Energy International during the fourth quarter worth $78,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Sunnova Energy International in the fourth quarter valued at about $62,000. American Century Companies Inc. increased its stake in shares of Sunnova Energy International by 22.2% during the fourth quarter. American Century Companies Inc. now owns 259,678 shares of the company's stock worth $891,000 after acquiring an additional 47,089 shares during the period. Cibc World Markets Corp acquired a new position in shares of Sunnova Energy International during the fourth quarter worth about $35,000. Finally, Swiss National Bank raised its holdings in Sunnova Energy International by 7.4% during the fourth quarter. Swiss National Bank now owns 221,000 shares of the company's stock worth $758,000 after purchasing an additional 15,200 shares in the last quarter.

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.