Sunnova Energy International (NYSE:NOVA) Price Target Raised to $8.00

Sunnova Energy International (NYSE:NOVA) had its target price hoisted by equities researchers at Piper Sandler from $7.00 to $8.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price target indicates a potential upside of 2.56% from the stock’s previous close.

Several other equities analysts have also recently weighed in on NOVA. Robert W. Baird raised their price target on Sunnova Energy International from $12.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. BMO Capital Markets cut their price target on Sunnova Energy International from $10.00 to $6.00 and set a “market perform” rating for the company in a report on Friday, May 3rd. The Goldman Sachs Group raised their price target on Sunnova Energy International from $10.00 to $13.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Truist Financial raised their price target on Sunnova Energy International from $9.00 to $10.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Morgan Stanley cut their price target on Sunnova Energy International from $14.00 to $10.00 and set an “equal weight” rating for the company in a report on Friday, June 14th. Eight analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $15.14.

Sunnova Energy International Stock Up 17.8 %

Shares of NOVA opened at $7.80 on Monday. The business’s 50 day moving average is $6.46 and its 200 day moving average is $6.25. The company has a market capitalization of $967.06 million, a PE ratio of -2.31 and a beta of 2.19. Sunnova Energy International has a 12-month low of $3.37 and a 12-month high of $16.46. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 3.41.

Sunnova Energy International (NYSE:NOVA) last issued its earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.27. The company had revenue of $219.60 million for the quarter, compared to the consensus estimate of $220.38 million. Sunnova Energy International had a negative return on equity of 9.28% and a negative net margin of 45.76%. The firm’s quarterly revenue was up 32.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.74) EPS. Research analysts expect that Sunnova Energy International will post -1.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sunnova Energy International

Hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its position in Sunnova Energy International by 7.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 842,130 shares of the company’s stock valued at $12,842,000 after acquiring an additional 61,953 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Sunnova Energy International by 124.4% in the 4th quarter. Van ECK Associates Corp now owns 1,563,320 shares of the company’s stock worth $23,841,000 after buying an additional 866,705 shares during the period. Quest Partners LLC purchased a new stake in shares of Sunnova Energy International in the 4th quarter worth $199,000. Vanguard Group Inc. lifted its holdings in shares of Sunnova Energy International by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 10,568,045 shares of the company’s stock worth $64,782,000 after buying an additional 81,653 shares during the period. Finally, Picton Mahoney Asset Management purchased a new stake in shares of Sunnova Energy International in the 4th quarter worth $3,002,000.

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.