Sunnova Energy International Inc. (NYSE:NOVA) Receives $15.73 Consensus PT from Analysts

Shares of Sunnova Energy International Inc. (NYSE:NOVA) have been given an average rating of “Moderate Buy” by the twenty-five analysts that are presently covering the firm, MarketBeat Ratings reports. Eight 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 12-month target price among brokerages that have issued a report on the stock in the last year is $15.73.

Several analysts have recently issued reports on the stock. Mizuho reduced their price target on shares of Sunnova Energy International from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Evercore ISI decreased their price target on shares of Sunnova Energy International from $26.00 to $17.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Truist Financial dropped their price target on shares of Sunnova Energy International from $16.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. Robert W. Baird reduced their price objective on Sunnova Energy International from $14.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Finally, Scotiabank lowered their target price on Sunnova Energy International from $20.00 to $10.00 and set a “sector outperform” rating for the company in a research note on Monday, April 29th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Sunnova Energy International by 0.8% in the first quarter. Vanguard Group Inc. now owns 10,568,045 shares of the company’s stock valued at $64,782,000 after purchasing an additional 81,653 shares during the period. Electron Capital Partners LLC increased its position in Sunnova Energy International by 42.9% in the 3rd 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 period. Van ECK Associates Corp raised its stake in Sunnova Energy International by 124.4% during the 4th quarter. Van ECK Associates Corp now owns 1,563,320 shares of the company’s stock valued at $23,841,000 after acquiring an additional 866,705 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Sunnova Energy International by 7.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 842,130 shares of the company’s stock valued at $12,842,000 after acquiring an additional 61,953 shares during the last quarter. Finally, Banque Pictet & Cie SA acquired a new stake in Sunnova Energy International during the 3rd quarter worth approximately $6,906,000.

Sunnova Energy International Stock Down 14.3 %

NYSE:NOVA opened at $5.58 on Tuesday. Sunnova Energy International has a 52 week low of $3.37 and a 52 week high of $24.56. The stock’s fifty day moving average is $4.80 and its two-hundred day moving average is $7.65. The stock has a market capitalization of $691.81 million, a price-to-earnings ratio of -1.66 and a beta of 2.19. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 3.41.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.57) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.79) by $0.22. Sunnova Energy International had a negative return on equity of 12.10% and a negative net margin of 56.52%. The firm had revenue of $160.90 million for the quarter, compared to the consensus estimate of $193.78 million. During the same quarter in the previous year, the business earned ($0.70) EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. Research analysts anticipate that Sunnova Energy International will post -1.85 EPS for the current year.

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.