Sunnova Energy International Inc. (NYSE:NOVA) Receives $5.39 Average Target Price from Analysts

Sunnova Energy International Inc. (NYSE:NOVA) has received a consensus recommendation of “Hold” from the twenty-nine analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, twenty-three have given a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $5.39.

A number of brokerages recently issued reports on NOVA. Piper Sandler dropped their price target on shares of Sunnova Energy International from $4.50 to $1.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. JPMorgan Chase & Co. downgraded shares of Sunnova Energy International from an “overweight” rating to a “neutral” rating in a research report on Monday, March 3rd. Wells Fargo & Company lowered shares of Sunnova Energy International from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $4.00 to $0.50 in a research note on Tuesday, March 4th. Capital One Financial downgraded Sunnova Energy International from an “overweight” rating to an “equal weight” rating in a research note on Monday, March 3rd. Finally, Susquehanna cut Sunnova Energy International from a “positive” rating to a “neutral” rating and cut their price objective for the company from $14.00 to $4.50 in a research note on Friday, January 10th.

Sunnova Energy International Stock Down 6.7 %

Shares of Sunnova Energy International stock opened at $0.31 on Thursday. Sunnova Energy International has a 1-year low of $0.25 and a 1-year high of $13.00. The company has a market capitalization of $39.28 million, a PE ratio of -0.09 and a beta of 2.64. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50-day moving average of $1.59 and a 200-day moving average of $4.27.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($2.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.79) by ($2.17). Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The business had revenue of $224.13 million for the quarter, compared to analyst estimates of $235.85 million. During the same quarter last year, the business earned $0.37 EPS. As a group, equities analysts forecast that Sunnova Energy International will post -2.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Sunnova Energy International

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Erste Asset Management GmbH acquired a new position in Sunnova Energy International during the 3rd quarter worth $76,550,000. Sylebra Capital LLC lifted its holdings in Sunnova Energy International by 125.6% in the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock worth $121,195,000 after purchasing an additional 6,926,399 shares during the period. CenterBook Partners LP acquired a new stake in Sunnova Energy International in the fourth quarter worth about $8,565,000. Invesco Ltd. grew its position in Sunnova Energy International by 55.2% in the 4th quarter. Invesco Ltd. now owns 6,082,399 shares of the company’s stock valued at $20,863,000 after buying an additional 2,162,379 shares in the last quarter. Finally, Capital Fund Management S.A. increased its stake in Sunnova Energy International by 456.4% during the 4th quarter. Capital Fund Management S.A. now owns 1,737,569 shares of the company’s stock valued at $5,960,000 after buying an additional 1,425,281 shares during the period.

Sunnova Energy International Company Profile

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.