Sunnova Energy International Inc. (NYSE:NOVA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Sunnova Energy International Inc. (NYSE:NOVA) have earned a consensus recommendation of “Moderate Buy” from the twenty-three analysts that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $10.89.

NOVA has been the subject of several research analyst reports. Citigroup cut their target price on shares of Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Truist Financial increased their target price on shares of Sunnova Energy International from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Wolfe Research lowered Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Piper Sandler raised their price objective on Sunnova Energy International from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Finally, Morgan Stanley lowered their price objective on Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Friday, November 15th.

Sunnova Energy International Trading Up 1.2 %

Shares of NYSE:NOVA opened at $4.28 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26. The stock has a market capitalization of $534.77 million, a PE ratio of -1.28 and a beta of 2.26. Sunnova Energy International has a 1 year low of $2.99 and a 1 year high of $16.35. The firm has a fifty day moving average price of $6.79 and a 200 day moving average price of $6.88.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.45). The firm had revenue of $235.30 million during the quarter, compared to analyst estimates of $238.23 million. Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. Sunnova Energy International’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.53) earnings per share. Analysts expect that Sunnova Energy International will post -2.29 EPS for the current fiscal year.

Insider Transactions at Sunnova Energy International

In other news, CFO Eric Michael Williams bought 13,800 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was bought at an average price of $3.60 per share, for a total transaction 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. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Akbar Mohamed purchased 54,717 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average price of $3.80 per share, for a total transaction of $207,924.60. Following the acquisition, the director now owns 302,654 shares of the company’s stock, valued at $1,150,085.20. The trade was a 22.07 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 118,517 shares of company stock worth $439,605. Insiders own 4.50% of the company’s stock.

Institutional Trading of Sunnova Energy International

Several institutional investors and hedge funds have recently added to or reduced their stakes in NOVA. International Assets Investment Management LLC lifted its stake in shares of Sunnova Energy International by 37,400.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,000 shares of the company’s stock valued at $308,000 after purchasing an additional 2,992 shares during the period. GAMMA Investing LLC grew its stake in shares of Sunnova Energy International by 736.3% during the third quarter. GAMMA Investing LLC now owns 8,756 shares of the company’s stock worth $85,000 after purchasing an additional 7,709 shares during the period. Peoples Bank KS bought a new stake in Sunnova Energy International in the second quarter valued at about $56,000. Caxton Associates LP acquired a new position in Sunnova Energy International in the first quarter valued at about $62,000. Finally, Creative Planning bought a new position in Sunnova Energy International during the third quarter worth about $107,000.

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.