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 research report report published on Tuesday, Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

Several other brokerages have also issued reports on NOVA. Susquehanna boosted their price target on Sunnova Energy International from $12.00 to $14.00 and gave the company a positive rating in a research note on Friday, August 2nd. Truist Financial boosted their target price on Sunnova Energy International from $9.00 to $10.00 and gave the stock a buy rating in a report on Monday, July 29th. KeyCorp downgraded Sunnova Energy International from an overweight rating to a sector weight rating in a report on Tuesday, April 23rd. Evercore ISI reduced their price objective on Sunnova Energy International from $26.00 to $17.00 and set an outperform rating on the stock in a report on Friday, May 3rd. Finally, Morgan Stanley reduced their price objective 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. Eight analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Sunnova Energy International has a consensus rating of Moderate Buy and a consensus price target of $15.00.

Sunnova Energy International Stock Down 4.8 %

NOVA traded down $0.35 during trading on Tuesday, reaching $6.93. 6,267,649 shares of the stock traded hands, compared to its average volume of 8,436,967. Sunnova Energy International has a fifty-two week low of $3.37 and a fifty-two week high of $16.78. The stock’s 50-day simple moving average is $6.39 and its two-hundred day simple moving average is $6.35. The stock has a market cap of $859.20 million, a price-to-earnings ratio of -2.06 and a beta of 2.19. 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 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 business 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 revenue for the quarter was up 32.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.74) earnings per share. As a group, equities research analysts expect that Sunnova Energy International will post -1.89 EPS for the current year.

Institutional Investors Weigh In On Sunnova Energy International

Hedge funds have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. lifted its position in Sunnova Energy International by 53.2% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 101,823 shares of the company’s stock worth $1,553,000 after acquiring an additional 35,338 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in Sunnova Energy International by 8.0% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 20,898 shares of the company’s stock worth $325,000 after acquiring an additional 1,554 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Sunnova Energy International during the fourth quarter worth approximately $157,000. Van ECK Associates Corp lifted its position in Sunnova Energy International by 124.4% during the fourth quarter. Van ECK Associates Corp now owns 1,563,320 shares of the company’s stock worth $23,841,000 after acquiring an additional 866,705 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Sunnova Energy International by 23.2% during the fourth quarter. Victory Capital Management Inc. now owns 14,310 shares of the company’s stock worth $218,000 after purchasing an additional 2,694 shares during the period.

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.