Sunnova Energy International Inc. (NYSE:NOVA) Receives $5.39 Consensus Target Price from Brokerages

Sunnova Energy International Inc. (NYSE:NOVA) has been given a consensus recommendation of “Hold” by the twenty-nine research firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, twenty-three have assigned a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $5.39.

Several equities analysts recently commented on NOVA shares. Robert W. Baird reaffirmed a “neutral” rating and set a $2.00 price target (down previously from $9.00) on shares of Sunnova Energy International in a research report on Monday, March 3rd. Roth Mkm downgraded Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Monday, March 3rd. Piper Sandler reduced their target price on Sunnova Energy International from $4.50 to $1.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. The Goldman Sachs Group lowered Sunnova Energy International from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $10.00 to $1.00 in a research note on Tuesday, March 4th. Finally, Mizuho cut Sunnova Energy International from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $11.00 to $1.00 in a report on Wednesday, March 5th.

Sunnova Energy International Price Performance

NOVA stock opened at $0.37 on Thursday. The stock has a market capitalization of $46.28 million, a price-to-earnings ratio of -0.11 and a beta of 2.64. The stock’s fifty day simple moving average is $1.53 and its 200-day simple moving average is $4.15. Sunnova Energy International has a 52-week low of $0.25 and a 52-week high of $13.00. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings results on Monday, March 3rd. The company reported ($2.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($2.17). The business had revenue of $224.13 million during the quarter, compared to analyst estimates of $235.85 million. Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. During the same period in the previous year, the business posted $0.37 earnings per share. Equities research analysts expect that Sunnova Energy International will post -2.63 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NOVA. Erste Asset Management GmbH acquired a new stake in Sunnova Energy International during the third quarter worth about $76,550,000. Sylebra Capital LLC grew its holdings in shares of Sunnova Energy International by 125.6% during the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock valued at $121,195,000 after purchasing an additional 6,926,399 shares during the last quarter. CenterBook Partners LP acquired a new stake in shares of Sunnova Energy International during the 4th quarter worth approximately $8,565,000. Invesco Ltd. lifted its holdings in shares of Sunnova Energy International by 55.2% in the 4th quarter. Invesco Ltd. now owns 6,082,399 shares of the company’s stock worth $20,863,000 after purchasing an additional 2,162,379 shares during the last quarter. Finally, Capital Fund Management S.A. boosted its position in Sunnova Energy International by 456.4% during the 4th quarter. Capital Fund Management S.A. now owns 1,737,569 shares of the company’s stock valued at $5,960,000 after purchasing an additional 1,425,281 shares during the period.

Sunnova Energy International Company Profile

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.