Analysts’ Weekly Ratings Updates for Sunnova Energy International (NOVA)

Several analysts have recently updated their ratings and price targets for Sunnova Energy International (NYSE: NOVA):

• 12/19/2024 – Sunnova Energy International is now covered by analysts at TD Cowen. They set a “hold” rating and a $5.00 price target on the stock.
• 12/18/2024 – Sunnova Energy International had its price target lowered by analysts at Robert W. Baird from $12.00 to $9.00. They now have an “outperform” rating on the stock.
• 12/17/2024 – Sunnova Energy International had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $12.00 to $11.00. They now have a “buy” rating on the stock.
• 12/9/2024 – Sunnova Energy International was downgraded by analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating.
• 11/22/2024 – Sunnova Energy International had its price target lowered by analysts at Piper Sandler from $8.00 to $4.50. They now have a “neutral” rating on the stock.
• 11/15/2024 – Sunnova Energy International had its price target lowered by analysts at Morgan Stanley from $12.00 to $6.00. They now have an “equal weight” rating on the stock.
• 11/8/2024 – Sunnova Energy International was downgraded by analysts at BNP Paribas from a “neutral” rating to an “underperform” rating. They now have a $3.50 price target on the stock.
• 11/7/2024 – Sunnova Energy International was downgraded by analysts at Guggenheim from a “buy” rating to a “neutral” rating.
• 11/4/2024 – Sunnova Energy International was downgraded by analysts at Wolfe Research from a “strong-buy” rating to a “hold” rating.
• 11/1/2024 – Sunnova Energy International had its price target lowered by analysts at Robert W. Baird from $18.00 to $12.00. They now have an “outperform” rating on the stock.
• 11/1/2024 – Sunnova Energy International had its “market perform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $8.00 price target on the stock, down previously from $10.00.
• 11/1/2024 – Sunnova Energy International had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $9.00 to $6.25. They now have a “hold” rating on the stock.
• 10/22/2024 – Sunnova Energy International had its price target lowered by analysts at Citigroup Inc. from $12.00 to $10.00. They now have a “buy” rating on the stock.

Sunnova Energy International Price Performance

NYSE NOVA traded down $0.25 during trading hours on Thursday, reaching $3.37. The company’s stock had a trading volume of 11,476,551 shares, compared to its average volume of 8,476,471. Sunnova Energy International Inc. has a 1 year low of $2.99 and a 1 year high of $16.35. 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 company has a market capitalization of $421.08 million, a price-to-earnings ratio of -1.01 and a beta of 2.22. The firm’s 50-day moving average price is $4.87 and its 200-day moving average price is $6.92.

Sunnova Energy International (NYSE:NOVA) last released its earnings results on Wednesday, October 30th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.45). The company had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $238.23 million. Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. Sunnova Energy International’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.53) EPS. On average, equities research analysts predict that Sunnova Energy International Inc. will post -2.44 EPS for the current fiscal year.

Insider Buying and Selling at Sunnova Energy International

In other news, Director Akbar Mohamed purchased 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average cost of $3.64 per share, with a total value of $182,000.00. Following the purchase, the director now owns 352,654 shares in the company, valued at approximately $1,283,660.56. This trade represents a 16.52 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Eric Michael Williams purchased 13,800 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were purchased 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 directly owns 13,800 shares in the company, valued at $49,680. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders purchased 118,517 shares of company stock valued at $439,605 in the last 90 days. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Sunnova Energy International

Institutional investors and hedge funds have recently modified their holdings of the business. DRW Securities LLC bought a new stake in shares of Sunnova Energy International in the 3rd quarter valued at about $989,000. Erste Asset Management GmbH bought a new position in Sunnova Energy International in the third quarter worth approximately $76,550,000. Handelsbanken Fonder AB raised its stake in Sunnova Energy International by 9.1% in the third quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock worth $71,097,000 after buying an additional 611,452 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Sunnova Energy International by 190.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 744,686 shares of the company’s stock worth $7,253,000 after buying an additional 488,623 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in Sunnova Energy International by 23.4% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 357,781 shares of the company’s stock valued at $1,996,000 after acquiring an additional 67,749 shares in the last quarter.

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.