Sunnova Energy International Inc. (NYSE:NOVA) Given Average Rating of "Hold" by Analysts

Sunnova Energy International Inc. (NYSE:NOVA - Get Free Report) has been given a consensus recommendation of "Hold" by the twenty-five research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $9.03.

Several analysts have issued reports on NOVA shares. Wells Fargo & Company dropped their price target on Sunnova Energy International from $8.00 to $4.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 8th. Morgan Stanley dropped their price target on 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. BMO Capital Markets reissued a "market perform" rating and issued a $8.00 price target (down previously from $10.00) on shares of Sunnova Energy International in a research note on Friday, November 1st. Royal Bank of Canada downgraded Sunnova Energy International from an "outperform" rating to a "sector perform" rating in a research note on Monday, December 9th. Finally, Citigroup lowered their target price on Sunnova Energy International from $12.00 to $10.00 and set a "buy" rating on the stock in a research report on Tuesday, October 22nd.

Sunnova Energy International Trading Down 9.6 %

NOVA traded down $0.24 during mid-day trading on Wednesday, reaching $2.23. The stock had a trading volume of 12,225,206 shares, compared to its average volume of 9,416,769. Sunnova Energy International has a 52 week low of $2.21 and a 52 week high of $13.00. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $278.01 million, a P/E ratio of -0.66 and a beta of 2.28. The firm's fifty day simple moving average is $3.59 and its two-hundred day simple moving average is $6.23.

Insider Transactions at Sunnova Energy International

In related news, Director Akbar Mohamed purchased 50,000 shares of the business's stock in a transaction that occurred on 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 completion of the purchase, the director now owns 352,654 shares in the company, valued at approximately $1,283,660.56. This represents a 16.52 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Eric Michael Williams purchased 13,800 shares of the business's stock in a transaction that occurred on Monday, November 18th. The stock was bought at an average price of $3.60 per share, with a total value of $49,680.00. Following the completion of the purchase, the chief financial officer now owns 13,800 shares of the company's stock, valued at $49,680. This trade represents 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 worth $439,605 over the last quarter. Company insiders own 4.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Erste Asset Management GmbH acquired a new position in shares of Sunnova Energy International during the third quarter worth $76,550,000. Sylebra Capital LLC increased its holdings in Sunnova Energy International by 125.6% in the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company's stock valued at $121,195,000 after purchasing an additional 6,926,399 shares during the period. Teilinger Capital Ltd. acquired a new stake in Sunnova Energy International in the fourth quarter valued at $3,588,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Sunnova Energy International by 190.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 744,686 shares of the company's stock valued at $7,253,000 after purchasing an additional 488,623 shares during the period. Finally, Amundi increased its holdings in Sunnova Energy International by 11.2% in the fourth quarter. Amundi now owns 4,385,286 shares of the company's stock valued at $14,988,000 after purchasing an additional 441,232 shares during the period.

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.