Sunnova Energy International (NOVA) – Analysts’ Recent Ratings Updates

Posted by Jeff Wilder on Nov 8th, 2024

Several brokerages have updated their recommendations and price targets on shares of Sunnova Energy International (NYSE: NOVA) in the last few weeks:

11/8/2024 – Sunnova Energy International was downgraded by analysts at BNP Paribas from a “neutral” rating to an “underperform” rating. They now have a $3.50 price target on the stock.
11/7/2024 – Sunnova Energy International was downgraded by analysts at Guggenheim from a “buy” rating to a “neutral” rating.
11/4/2024 – Sunnova Energy International was downgraded by analysts at Wolfe Research from a “strong-buy” rating to a “hold” rating.
11/1/2024 – Sunnova Energy International had its price target lowered by analysts at Robert W. Baird from $18.00 to $12.00. They now have an “outperform” rating on the stock.
11/1/2024 – Sunnova Energy International had its “market perform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $8.00 price target on the stock, down previously from $10.00.
11/1/2024 – Sunnova Energy International had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $9.00 to $6.25. They now have a “hold” rating on the stock.
10/22/2024 – Sunnova Energy International had its price target lowered by analysts at Citigroup Inc. from $12.00 to $10.00. They now have a “buy” rating on the stock.
10/16/2024 – Sunnova Energy International had its price target lowered by analysts at Barclays PLC from $12.00 to $10.00. They now have an “overweight” rating on the stock.
10/14/2024 – Sunnova Energy International had its price target raised by analysts at BMO Capital Markets from $9.00 to $10.00. They now have a “market perform” rating on the stock.
10/10/2024 – Sunnova Energy International is now covered by analysts at Jefferies Financial Group Inc.. They set a “buy” rating and a $15.00 price target on the stock.

Sunnova Energy International Trading Down 14.5 %

NOVA stock traded down $0.53 on Friday, hitting $3.12. 17,910,539 shares of the company were exchanged, compared to its average volume of 8,119,871. 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 stock has a market capitalization of $389.84 million, a price-to-earnings ratio of -0.93 and a beta of 2.26. The business’s fifty day moving average is $8.23 and its two-hundred day moving average is $6.90. Sunnova Energy International Inc. has a twelve month low of $2.99 and a twelve month high of $16.35.

Sunnova Energy International (NYSE:NOVA – Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.45). Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The business had revenue of $235.30 million during the quarter, compared to analyst estimates of $238.23 million. During the same period in the previous year, the company earned ($0.53) EPS. Sunnova Energy International’s revenue was up 18.6% on a year-over-year basis. As a group, research analysts forecast that Sunnova Energy International Inc. will post -2.27 earnings per share for the current year.

Insider Activity

In other Sunnova Energy International news, insider William J. Berger sold 77,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $11.31, for a total value of $870,870.00. Following the completion of the transaction, the insider now directly owns 409,045 shares of the company’s stock, valued at $4,626,298.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Sunnova Energy International by 56.7% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 14,142,487 shares of the company’s stock worth $78,915,000 after purchasing an additional 5,118,552 shares during the last quarter. Vanguard Group Inc. boosted 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 acquiring an additional 81,653 shares during the period. Handelsbanken Fonder AB boosted its position in Sunnova Energy International by 9.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock valued at $71,097,000 after purchasing an additional 611,452 shares during the period. Sylebra Capital LLC bought a new position in shares of Sunnova Energy International during the second quarter worth about $30,783,000. Finally, Electron Capital Partners LLC increased its stake in shares of Sunnova Energy International by 24.5% in the second quarter. Electron Capital Partners LLC now owns 3,004,938 shares of the company’s stock valued at $16,768,000 after purchasing an additional 591,514 shares during the period.

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.