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

Shares of Sunnova Energy International Inc. (NYSE:NOVA) have been assigned a consensus rating of “Moderate Buy” from the twenty-five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Eight equities 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 covered the stock in the last year is $15.14.

A number of equities research analysts have recently commented on NOVA shares. Guggenheim upped their price objective on shares of Sunnova Energy International from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Evercore ISI decreased their price target on Sunnova Energy International from $26.00 to $17.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. BMO Capital Markets dropped their price objective on Sunnova Energy International from $10.00 to $6.00 and set a “market perform” rating on the stock in a research note on Friday, May 3rd. KeyCorp cut Sunnova Energy International from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, April 23rd. Finally, Piper Sandler lifted their target price on Sunnova Energy International from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, August 12th.

Sunnova Energy International Trading Up 0.5 %

NYSE NOVA opened at $9.68 on Wednesday. The firm has a market capitalization of $1.20 billion, a PE ratio of -2.87 and a beta of 2.19. The business’s 50-day moving average price is $6.82 and its two-hundred day moving average price is $6.19. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 3.41. Sunnova Energy International has a 12 month low of $3.37 and a 12 month high of $16.35.

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

Hedge Funds Weigh In On Sunnova Energy International

Several large investors have recently bought and sold shares of NOVA. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Sunnova Energy International by 2.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 45,491 shares of the company’s stock valued at $663,000 after purchasing an additional 1,094 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in Sunnova Energy International by 8.0% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 20,898 shares of the company’s stock valued at $325,000 after buying an additional 1,554 shares during the last quarter. First Affirmative Financial Network lifted its position in shares of Sunnova Energy International by 12.9% during the 2nd quarter. First Affirmative Financial Network now owns 14,829 shares of the company’s stock worth $83,000 after buying an additional 1,691 shares in the last quarter. Manchester Capital Management LLC boosted its stake in shares of Sunnova Energy International by 2,959.7% in the 4th quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock worth $29,000 after buying an additional 1,835 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Sunnova Energy International by 23.2% in the fourth quarter. Victory Capital Management Inc. now owns 14,310 shares of the company’s stock valued at $218,000 after acquiring an additional 2,694 shares in the last quarter.

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.