Sunnova Energy International Inc. (NYSE:NOVA) Receives Average Recommendation of “Buy” from Brokerages

Shares of Sunnova Energy International Inc. (NYSE:NOVAGet Rating) have received an average rating of “Buy” from the sixteen research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $48.00.

NOVA has been the topic of several research reports. Raymond James dropped their price target on Sunnova Energy International from $50.00 to $32.00 and set a “strong-buy” rating on the stock in a report on Thursday, February 24th. JPMorgan Chase & Co. dropped their price target on shares of Sunnova Energy International from $66.00 to $53.00 in a research note on Thursday, January 20th. Zacks Investment Research upgraded shares of Sunnova Energy International from a “sell” rating to a “hold” rating in a report on Tuesday, January 25th. Truist Financial decreased their price objective on shares of Sunnova Energy International from $53.00 to $32.00 and set a “buy” rating for the company in a report on Monday, January 24th. Finally, KeyCorp decreased their price target on shares of Sunnova Energy International from $50.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, January 13th.

Shares of Sunnova Energy International stock opened at $19.37 on Friday. The business’s fifty day moving average price is $21.39 and its 200 day moving average price is $27.77. The stock has a market capitalization of $2.20 billion, a P/E ratio of -15.37 and a beta of 2.21. Sunnova Energy International has a twelve month low of $13.90 and a twelve month high of $46.40. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 2.12.

Sunnova Energy International (NYSE:NOVAGet Rating) last announced its quarterly earnings data on Wednesday, February 23rd. The company reported ($0.28) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.09. The firm had revenue of $65.02 million during the quarter, compared to analyst estimates of $64.66 million. Sunnova Energy International had a negative return on equity of 10.44% and a negative net margin of 57.14%. As a group, sell-side analysts predict that Sunnova Energy International will post -1.06 EPS for the current year.

In other news, Director Akbar Mohamed purchased 10,000 shares of the business’s stock in a transaction dated Thursday, March 3rd. The stock was bought at an average price of $19.09 per share, with a total value of $190,900.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Chris Hayden sold 3,780 shares of the company’s stock in a transaction that occurred on Monday, March 14th. The stock was sold at an average price of $21.71, for a total transaction of $82,063.80. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Morgan Stanley boosted its stake in shares of Sunnova Energy International by 56.1% in the 2nd quarter. Morgan Stanley now owns 645,284 shares of the company’s stock valued at $24,300,000 after purchasing an additional 231,784 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Sunnova Energy International by 98.8% in the 3rd quarter. Nordea Investment Management AB now owns 570,968 shares of the company’s stock valued at $18,716,000 after purchasing an additional 283,766 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Sunnova Energy International by 7.1% in the 3rd quarter. SG Americas Securities LLC now owns 33,967 shares of the company’s stock valued at $1,119,000 after purchasing an additional 2,253 shares during the last quarter. Valeo Financial Advisors LLC bought a new position in Sunnova Energy International during the third quarter worth $252,000. Finally, Raymond James & Associates boosted its stake in Sunnova Energy International by 67.5% during the third quarter. Raymond James & Associates now owns 12,649 shares of the company’s stock worth $417,000 after acquiring an additional 5,096 shares in the last quarter.

About Sunnova Energy International (Get Rating)

Sunnova Energy International Inc provides residential energy services 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 diagnostics services. As of December 31, 2021, it operated a fleet of residential solar energy systems with a generation capacity of approximately 1,140 megawatts serving over 195,000 customers.

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Analyst Recommendations for Sunnova Energy International (NYSE:NOVA)

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