Sunnova Energy International Inc. (NYSE:NOVA) Receives Average Recommendation of "Hold" from Brokerages

Shares of Sunnova Energy International Inc. (NYSE:NOVA - Get Free Report) have been given an average rating of "Hold" by the twenty-four ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $9.58.

A number of research firms have weighed in on NOVA. Robert W. Baird decreased their target price on shares of Sunnova Energy International from $12.00 to $9.00 and set an "outperform" rating for the company in a research report on Wednesday, December 18th. Royal Bank of Canada cut shares of Sunnova Energy International from an "outperform" rating to a "sector perform" rating in a research report on Monday, December 9th. The Goldman Sachs Group dropped their target price on shares of Sunnova Energy International from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Tuesday, December 17th. Susquehanna downgraded Sunnova Energy International from a "positive" rating to a "neutral" rating and decreased their price target for the stock from $14.00 to $4.50 in a report on Friday. Finally, Piper Sandler cut their target price on Sunnova Energy International from $8.00 to $4.50 and set a "neutral" rating on the stock in a research report on Friday, November 22nd.

Insiders Place Their Bets

In other news, Director Akbar Mohamed purchased 54,717 shares of the business's stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average cost of $3.80 per share, for a total transaction of $207,924.60. Following the completion of the acquisition, the director now owns 302,654 shares in the company, valued at $1,150,085.20. This trade represents a 22.07 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Eric Michael Williams acquired 13,800 shares of Sunnova Energy International stock in a transaction on Monday, November 18th. The stock was purchased at an average cost of $3.60 per share, with a total value 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. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 118,517 shares of company stock valued at $439,605. Corporate insiders own 4.50% of the company's stock.

Hedge Funds Weigh In On Sunnova Energy International

A number of hedge funds and other institutional investors have recently modified their holdings of NOVA. Sylebra Capital LLC lifted its holdings in Sunnova Energy International by 125.6% during the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company's stock worth $121,195,000 after acquiring an additional 6,926,399 shares during the period. Erste Asset Management GmbH bought a new stake in shares of Sunnova Energy International during the 3rd quarter worth $76,550,000. Handelsbanken Fonder AB boosted its holdings in shares of Sunnova Energy International by 9.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company's stock worth $71,097,000 after buying an additional 611,452 shares during the last quarter. Electron Capital Partners LLC grew its position in Sunnova Energy International by 24.5% during the second quarter. Electron Capital Partners LLC now owns 3,004,938 shares of the company's stock valued at $16,768,000 after buying an additional 591,514 shares during the period. Finally, Geode Capital Management LLC grew its position in Sunnova Energy International by 3.6% during the third quarter. Geode Capital Management LLC now owns 2,562,684 shares of the company's stock valued at $24,965,000 after buying an additional 88,945 shares during the period.

Sunnova Energy International Trading Down 12.5 %

Shares of Sunnova Energy International stock traded down $0.49 during trading on Friday, hitting $3.43. The company's stock had a trading volume of 9,910,909 shares, compared to its average volume of 9,357,113. The stock has a market cap of $428.59 million, a price-to-earnings ratio of -1.02 and a beta of 2.29. Sunnova Energy International has a 52 week low of $2.99 and a 52 week high of $13.00. The stock has a 50-day moving average price of $4.21 and a two-hundred day moving average price of $6.72. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86.

Sunnova Energy International (NYSE:NOVA - Get Free Report) last released its quarterly earnings results 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 net margin of 51.02% and a negative return on equity of 11.15%. The company had revenue of $235.30 million during the quarter, compared to the consensus estimate of $238.23 million. During the same quarter last year, the firm posted ($0.53) EPS. The company's quarterly revenue was up 18.6% on a year-over-year basis. Equities research analysts anticipate that Sunnova Energy International will post -2.44 EPS for the current fiscal year.

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.