Brokerages Set Sunnova Energy International Inc. (NYSE:NOVA) Target Price at $9.60

Sunnova Energy International Inc. (NYSE:NOVA) has received an average recommendation of “Hold” from the twenty-five ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $9.03.

Several research firms have recently weighed in on NOVA. Wolfe Research cut Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. TD Cowen began coverage on shares of Sunnova Energy International in a report on Thursday, December 19th. They set a “hold” rating and a $5.00 target price on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Sunnova Energy International from $9.00 to $6.25 and set a “hold” rating for the company in a research note on Friday, November 1st. Citigroup reduced their price objective on shares of Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Finally, Robert W. Baird lowered their target price on Sunnova Energy International from $12.00 to $9.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th.

Insider Buying and Selling

In other news, CFO Eric Michael Williams purchased 13,800 shares of the business’s stock in a transaction on Monday, November 18th. The shares were acquired at an average price of $3.60 per share, for a total transaction of $49,680.00. Following the completion of the acquisition, the chief financial officer now owns 13,800 shares in the company, valued at approximately $49,680. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Akbar Mohamed acquired 54,717 shares of Sunnova Energy International stock in a transaction on Friday, November 15th. The stock was purchased at an average cost of $3.80 per share, with a total value of $207,924.60. Following the purchase, the director now directly owns 302,654 shares of the company’s stock, valued at approximately $1,150,085.20. This trade represents a 22.07 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 118,517 shares of company stock valued at $439,605 over the last ninety days. 4.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NOVA. Fox Run Management L.L.C. bought a new stake in shares of Sunnova Energy International during the fourth quarter worth about $78,000. KLP Kapitalforvaltning AS acquired a new position in Sunnova Energy International during the 4th quarter valued at about $62,000. American Century Companies Inc. increased its holdings in Sunnova Energy International by 22.2% during the 4th quarter. American Century Companies Inc. now owns 259,678 shares of the company’s stock worth $891,000 after purchasing an additional 47,089 shares in the last quarter. Cibc World Markets Corp purchased a new stake in shares of Sunnova Energy International in the fourth quarter worth approximately $35,000. Finally, Swiss National Bank lifted its holdings in shares of Sunnova Energy International by 7.4% in the fourth quarter. Swiss National Bank now owns 221,000 shares of the company’s stock valued at $758,000 after purchasing an additional 15,200 shares in the last quarter.

Sunnova Energy International Trading Down 9.4 %

Shares of NOVA stock opened at $2.07 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26. The firm has a market capitalization of $258.03 million, a P/E ratio of -0.62 and a beta of 2.28. Sunnova Energy International has a twelve month low of $2.00 and a twelve month high of $13.00. The stock’s fifty day simple moving average is $3.52 and its 200 day simple moving average is $6.18.

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.