Sunnova Energy International (NYSE:NOVA) Price Target Raised to $14.00

Sunnova Energy International (NYSE:NOVA) had its price objective lifted by Scotiabank from $10.00 to $14.00 in a report released on Tuesday morning, Benzinga reports. They currently have a sector outperform rating on the stock.

Other equities research analysts have also recently issued reports about the company. Mizuho reduced their price objective on Sunnova Energy International from $21.00 to $17.00 and set a buy rating on the stock in a research note on Friday, April 19th. Evercore ISI dropped their target price on 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. Guggenheim boosted their target price on Sunnova Energy International from $7.00 to $10.00 and gave the company a buy rating in a research report on Friday, July 26th. BMO Capital Markets dropped their target price on Sunnova Energy International from $10.00 to $6.00 and set a market perform rating for the company in a research report on Friday, May 3rd. Finally, Piper Sandler lowered Sunnova Energy International from an overweight rating to a neutral rating and dropped their target price for the company from $9.00 to $4.50 in a research report on Tuesday, May 21st. Eight analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $15.00.

Sunnova Energy International Price Performance

Shares of NOVA stock traded down $0.35 during trading hours on Tuesday, hitting $6.93. The stock had a trading volume of 6,267,649 shares, compared to its average volume of 8,436,967. Sunnova Energy International has a one year low of $3.37 and a one year high of $16.78. The company has a debt-to-equity ratio of 3.41, a current ratio of 0.74 and a quick ratio of 0.74. The stock’s 50-day moving average price is $6.39 and its two-hundred day moving average price is $6.35. The stock has a market capitalization of $859.20 million, a price-to-earnings ratio of -2.06 and a beta of 2.19.

Sunnova Energy International (NYSE:NOVA) last issued its earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.27. Sunnova Energy International had a negative return on equity of 9.28% and a negative net margin of 45.76%. The firm had revenue of $219.60 million for the quarter, compared to analysts’ expectations of $220.38 million. During the same period in the previous year, the firm posted ($0.74) earnings per share. The business’s revenue was up 32.0% compared to the same quarter last year. Equities analysts forecast that Sunnova Energy International will post -1.89 EPS for the current year.

Institutional Investors Weigh In On Sunnova Energy International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Manchester Capital Management LLC boosted its stake in shares of Sunnova Energy International by 2,959.7% during the 4th quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock worth $29,000 after acquiring an additional 1,835 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Sunnova Energy International during the 1st quarter worth about $25,000. Peoples Bank KS purchased a new stake in shares of Sunnova Energy International during the 2nd quarter worth about $56,000. Caxton Associates LP purchased a new stake in shares of Sunnova Energy International during the 1st quarter worth about $62,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Sunnova Energy International during the 4th quarter worth about $157,000.

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.