Brokerages Set Sunnova Energy International Inc. (NYSE:NOVA) Target Price at $19.54

Shares of Sunnova Energy International Inc. (NYSE:NOVA) have been given an average rating of “Moderate Buy” by the twenty-two analysts that are covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $19.46.

Several brokerages recently issued reports on NOVA. Janney Montgomery Scott upgraded shares of Sunnova Energy International from a “neutral” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Friday, March 22nd. Truist Financial reaffirmed a “buy” rating and set a $16.00 price target (down previously from $18.00) on shares of Sunnova Energy International in a report on Monday, February 26th. Mizuho lowered their price target on shares of Sunnova Energy International from $25.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, February 27th. Susquehanna lowered their price target on shares of Sunnova Energy International from $20.00 to $12.00 and set a “positive” rating on the stock in a report on Friday, April 5th. Finally, B. Riley lowered their price target on shares of Sunnova Energy International from $25.00 to $21.00 and set a “buy” rating on the stock in a report on Monday, February 5th.

Insider Buying and Selling

In other Sunnova Energy International news, Director Akbar Mohamed purchased 152,450 shares of Sunnova Energy International stock in a transaction that occurred on Wednesday, February 28th. The shares were bought at an average price of $6.92 per share, for a total transaction of $1,054,954.00. Following the completion of the transaction, the director now owns 236,139 shares of the company’s stock, valued at approximately $1,634,081.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Paul S. Mathews sold 9,500 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $5.31, for a total value of $50,445.00. Following the sale, the insider now owns 14,007 shares in the company, valued at $74,377.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Akbar Mohamed acquired 152,450 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were purchased at an average price of $6.92 per share, for a total transaction of $1,054,954.00. Following the transaction, the director now directly owns 236,139 shares of the company’s stock, valued at $1,634,081.88. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 23,580 shares of company stock worth $137,382. Insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its position in Sunnova Energy International by 1.6% during the first quarter. BlackRock Inc. now owns 16,530,455 shares of the company’s stock valued at $381,192,000 after acquiring an additional 261,186 shares during the last quarter. Vanguard Group Inc. increased its position in Sunnova Energy International by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 10,486,392 shares of the company’s stock valued at $159,917,000 after acquiring an additional 215,905 shares during the last quarter. Electron Capital Partners LLC increased its position in Sunnova Energy International by 42.9% during the third quarter. Electron Capital Partners LLC now owns 5,308,684 shares of the company’s stock valued at $55,582,000 after acquiring an additional 1,593,098 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Sunnova Energy International by 39.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,241,007 shares of the company’s stock valued at $50,618,000 after acquiring an additional 921,583 shares during the last quarter. Finally, State Street Corp increased its position in Sunnova Energy International by 0.4% during the first quarter. State Street Corp now owns 2,185,742 shares of the company’s stock valued at $50,403,000 after acquiring an additional 9,078 shares during the last quarter.

Sunnova Energy International Stock Performance

Shares of NOVA stock opened at $4.10 on Thursday. The company has a 50 day moving average price of $6.93 and a 200-day moving average price of $9.68. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.58. The firm has a market capitalization of $507.74 million, a PE ratio of -1.17 and a beta of 2.08. Sunnova Energy International has a 52 week low of $3.80 and a 52 week high of $24.56.

Sunnova Energy International (NYSE:NOVA) last announced its earnings results on Wednesday, February 21st. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.04. The company had revenue of $194.18 million during the quarter, compared to analyst estimates of $226.09 million. Sunnova Energy International had a negative net margin of 58.00% and a negative return on equity of 13.26%. As a group, equities research analysts expect that Sunnova Energy International will post -2.28 earnings per share for the current year.

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.