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

Sunnova Energy International Inc. (NYSE:NOVA) has received an average rating of “Moderate Buy” from the twenty-five ratings firms that are covering the firm, MarketBeat reports. Eight investment 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. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $15.14.

A number of equities research analysts have weighed in on NOVA shares. Truist Financial boosted their target price on shares of Sunnova Energy International from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Barclays lowered their target price on Sunnova Energy International from $18.00 to $12.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. Royal Bank of Canada raised their target price on Sunnova Energy International from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Robert W. Baird upped their price target on shares of Sunnova Energy International from $12.00 to $14.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, Morgan Stanley dropped their price objective on shares of 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.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NOVA. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Sunnova Energy International by 56.7% in 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 buying an additional 5,118,552 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Sunnova Energy International by 0.8% during the 1st 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 last quarter. Sylebra Capital LLC purchased a new position in shares of Sunnova Energy International in the second quarter valued at $30,783,000. Electron Capital Partners LLC increased its position in 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 worth $16,768,000 after purchasing an additional 591,514 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake 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 valued at $23,841,000 after purchasing an additional 866,705 shares in the last quarter.

Sunnova Energy International Trading Up 0.5 %

Sunnova Energy International stock opened at $9.68 on Wednesday. Sunnova Energy International has a one year low of $3.37 and a one year high of $16.35. The business’s fifty day moving average is $6.82 and its 200 day moving average is $6.19. The stock has a market capitalization of $1.20 billion, a PE ratio of -2.87 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 announced its quarterly earnings results on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.27. Sunnova Energy International had a negative net margin of 45.76% and a negative return on equity of 9.28%. The firm had revenue of $219.60 million during the quarter, compared to analyst estimates of $220.38 million. During the same period in the previous year, the business posted ($0.74) earnings per share. The business’s revenue for the quarter was up 32.0% on a year-over-year basis. On average, sell-side analysts predict that Sunnova Energy International will post -1.89 EPS for the current 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.