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

Sunnova Energy International (NYSE:NOVA) had its target price increased by equities research analysts at Robert W. Baird from $12.00 to $14.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price target would suggest a potential upside of 70.32% from the company’s previous close.

A number of other research firms have also recently issued reports on NOVA. Evercore ISI decreased their price objective on shares of Sunnova Energy International from $26.00 to $17.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Morgan Stanley reduced their price target on Sunnova Energy International from $14.00 to $10.00 and set an “equal weight” rating on the stock in a report on Friday, June 14th. Barclays dropped their price objective on Sunnova Energy International from $18.00 to $12.00 and set an “overweight” rating for the company in a report on Tuesday, July 23rd. BMO Capital Markets cut their price target on shares of Sunnova Energy International from $10.00 to $6.00 and set a “market perform” rating on the stock in a report on Friday, May 3rd. Finally, Truist Financial upped their price objective on shares of Sunnova Energy International from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday. Eight research 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 stock. Based on data from MarketBeat, Sunnova Energy International has a consensus rating of “Moderate Buy” and an average target price of $14.96.

Sunnova Energy International Price Performance

NYSE NOVA traded down $0.08 on Friday, reaching $8.22. 3,448,106 shares of the company’s stock traded hands, compared to its average volume of 8,461,938. The stock has a market cap of $1.02 billion, a PE ratio of -2.43 and a beta of 2.18. The stock has a 50-day simple moving average of $6.05 and a 200 day simple moving average of $6.48. Sunnova Energy International has a 12 month low of $3.37 and a 12 month high of $17.69. The company has a debt-to-equity ratio of 3.41, a current ratio of 0.74 and a quick ratio of 0.74.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.27. The firm had revenue of $219.60 million for the quarter, compared to the consensus estimate 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 company’s quarterly revenue was up 32.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.74) earnings per share. As a group, research analysts predict that Sunnova Energy International will post -1.89 earnings per share for the current year.

Insider Buying and Selling

In other Sunnova Energy International news, insider William J. Berger 48,413 shares of the company’s stock in a transaction dated Tuesday, July 30th. The was disclosed in a filing with the SEC, which is available through this link. 4.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Sunnova Energy International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Sunnova Energy International in the first quarter worth approximately $25,000. Manchester Capital Management LLC lifted 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 valued at $29,000 after buying an additional 1,835 shares in the last quarter. Peoples Bank KS bought a new position in Sunnova Energy International in the 2nd quarter worth $56,000. Caxton Associates LP purchased a new stake in Sunnova Energy International in the 1st quarter worth $62,000. Finally, First Trust Direct Indexing L.P. bought a new stake in Sunnova Energy International during the first quarter valued at about $66,000.

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.