Sunnova Energy International (NYSE:NOVA) Given Market Perform Rating at BMO Capital Markets

Sunnova Energy International (NYSE:NOVA)‘s stock had its “market perform” rating reiterated by BMO Capital Markets in a report released on Friday, Benzinga reports. They currently have a $8.00 price target on the stock, down from their previous price target of $10.00. BMO Capital Markets’ price objective points to a potential upside of 34.45% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on NOVA. Royal Bank of Canada upped their price target on Sunnova Energy International from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Robert W. Baird cut their price target on Sunnova Energy International from $18.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday. Truist Financial boosted their price objective on shares of Sunnova Energy International from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Wells Fargo & Company raised their target price on shares of Sunnova Energy International from $6.00 to $9.00 and gave the company an “equal weight” rating in a report on Tuesday, August 6th. Finally, Scotiabank increased their price target on shares of Sunnova Energy International from $10.00 to $14.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 6th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $11.61.

Sunnova Energy International Stock Performance

Shares of Sunnova Energy International stock traded down $0.12 on Friday, reaching $5.95. 3,518,131 shares of the stock were exchanged, compared to its average volume of 7,737,180. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 3.11. The firm has a market capitalization of $742.92 million, a PE ratio of -1.78 and a beta of 2.21. Sunnova Energy International has a 1-year low of $3.37 and a 1-year high of $16.35. The business has a fifty day moving average price of $8.80 and a two-hundred day moving average price of $6.85.

Sunnova Energy International (NYSE:NOVA) last released its earnings results on Wednesday, October 30th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.45). Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.46%. The business had revenue of $235.30 million during the quarter, compared to analyst estimates of $238.23 million. During the same period last year, the business posted ($0.53) EPS. Sunnova Energy International’s revenue was up 18.6% compared to the same quarter last year. As a group, research analysts anticipate that Sunnova Energy International will post -1.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider William J. Berger sold 77,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $11.31, for a total transaction of $870,870.00. Following the completion of the sale, the insider now owns 409,045 shares of the company’s stock, valued at approximately $4,626,298.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sunnova Energy International

Several institutional investors and hedge funds have recently modified their holdings of NOVA. First Affirmative Financial Network boosted its holdings in Sunnova Energy International by 12.9% in the 2nd quarter. First Affirmative Financial Network now owns 14,829 shares of the company’s stock worth $83,000 after acquiring an additional 1,691 shares during the period. First Trust Direct Indexing L.P. boosted its stake in shares of Sunnova Energy International by 11.6% in the third quarter. First Trust Direct Indexing L.P. now owns 19,373 shares of the company’s stock valued at $189,000 after purchasing an additional 2,016 shares during the period. Ballentine Partners LLC grew its holdings in Sunnova Energy International by 15.9% during the 3rd quarter. Ballentine Partners LLC now owns 21,515 shares of the company’s stock valued at $210,000 after purchasing an additional 2,956 shares in the last quarter. International Assets Investment Management LLC increased its stake in Sunnova Energy International by 37,400.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,000 shares of the company’s stock worth $308,000 after buying an additional 2,992 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Sunnova Energy International by 6.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,487 shares of the company’s stock worth $315,000 after buying an additional 3,559 shares in the last quarter.

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.