Sunnova Energy International Inc. (NYSE:NOVA) Receives $15.28 Average Price Target from Analysts

Sunnova Energy International Inc. (NYSE:NOVA) has been assigned an average rating of “Moderate Buy” from the twenty-five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $15.04.

Several equities analysts have issued reports on the company. Barclays cut their target price on Sunnova Energy International from $18.00 to $12.00 and set an “overweight” rating on the stock in a research note on Tuesday. Mizuho dropped their price target 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 price target on Sunnova Energy International from $26.00 to $17.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. KeyCorp lowered Sunnova Energy International from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, April 23rd. Finally, The Goldman Sachs Group dropped their price target on Sunnova Energy International from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, April 11th.

Institutional Investors Weigh In On Sunnova Energy International

Several hedge funds have recently bought and sold shares of the stock. Presidio Capital Management LLC purchased a new stake in Sunnova Energy International in the 2nd quarter worth approximately $67,000. Bank of New York Mellon Corp boosted its position in Sunnova Energy International by 13.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 394,812 shares of the company’s stock worth $2,203,000 after purchasing an additional 48,119 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in Sunnova Energy International by 166.9% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 69,017 shares of the company’s stock worth $385,000 after purchasing an additional 43,161 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Sunnova Energy International by 87,558.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 105,190 shares of the company’s stock valued at $587,000 after buying an additional 105,070 shares in the last quarter. Finally, Peoples Bank KS purchased a new position in shares of Sunnova Energy International during the 2nd quarter valued at approximately $56,000.

Sunnova Energy International Price Performance

NOVA stock opened at $8.04 on Friday. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.74 and a current ratio of 0.74. The business has a 50-day moving average price of $5.79 and a 200 day moving average price of $6.62. Sunnova Energy International has a 1-year low of $3.37 and a 1-year high of $19.56.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.57) earnings per share 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 during the quarter, compared to the consensus estimate of $193.78 million. During the same period in the previous year, the company posted ($0.70) earnings per share. The firm’s quarterly revenue was down .5% on a year-over-year basis. As a group, equities research analysts anticipate that Sunnova Energy International will post -1.89 earnings per share for the current fiscal 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.