Analysts Set Sunnova Energy International Inc. (NYSE:NOVA) PT at $10.73

Sunnova Energy International Inc. (NYSE:NOVA) has been assigned an average rating of “Hold” from the twenty-four research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $10.24.

A number of analysts have weighed in on NOVA shares. Royal Bank of Canada lowered shares of Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a research note on Monday, December 9th. BMO Capital Markets restated a “market perform” rating and issued a $8.00 price objective (down from $10.00) on shares of Sunnova Energy International in a report on Friday, November 1st. BNP Paribas downgraded Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 target price on the stock. in a research note on Friday, November 8th. Robert W. Baird decreased their price target on Sunnova Energy International from $12.00 to $9.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Finally, The Goldman Sachs Group lowered their price target on Sunnova Energy International from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, December 17th.

Sunnova Energy International Price Performance

NOVA stock opened at $3.77 on Tuesday. 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 firm has a 50 day moving average price of $4.75 and a 200-day moving average price of $6.90. Sunnova Energy International has a 52-week low of $2.99 and a 52-week high of $16.35. The firm has a market capitalization of $471.07 million, a price-to-earnings ratio of -1.13 and a beta of 2.22.

Sunnova Energy International (NYSE:NOVA) last released its earnings results on Wednesday, October 30th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.45). Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The company had revenue of $235.30 million during the quarter, compared to the consensus estimate of $238.23 million. During the same period last year, the firm posted ($0.53) earnings per share. The company’s revenue was up 18.6% compared to the same quarter last year. Equities research analysts forecast that Sunnova Energy International will post -2.44 EPS for the current fiscal year.

Insider Transactions at Sunnova Energy International

In other Sunnova Energy International news, CFO Eric Michael Williams acquired 13,800 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was purchased 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 directly owns 13,800 shares in the company, valued at approximately $49,680. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Akbar Mohamed bought 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were acquired at an average cost of $3.64 per share, for a total transaction of $182,000.00. Following the purchase, the director now directly owns 352,654 shares in the company, valued at $1,283,660.56. This trade represents a 16.52 % 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 over the last three months. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Sunnova Energy International

Several institutional investors have recently bought and sold shares of NOVA. DRW Securities LLC bought a new position in shares of Sunnova Energy International during the 3rd quarter valued at about $989,000. Erste Asset Management GmbH bought a new position in Sunnova Energy International during the third quarter valued at approximately $76,550,000. Handelsbanken Fonder AB grew its holdings in Sunnova Energy International by 9.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock valued at $71,097,000 after buying an additional 611,452 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Sunnova Energy International by 190.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 744,686 shares of the company’s stock worth $7,253,000 after acquiring an additional 488,623 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Sunnova Energy International by 23.4% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 357,781 shares of the company’s stock worth $1,996,000 after acquiring an additional 67,749 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.