Sunnova Energy International Inc. (NYSE:NOVA) Given Average Recommendation of “Moderate Buy” by Brokerages

Sunnova Energy International Inc. (NYSE:NOVA) has been given an average recommendation of “Moderate Buy” by the twenty-five ratings firms that are presently covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $15.73.

Several research analysts recently weighed in on the company. Wells Fargo & Company reiterated an “equal weight” rating and issued a $6.00 price objective (down from $11.00) on shares of Sunnova Energy International in a research report on Friday, April 19th. The Goldman Sachs Group cut their price objective on Sunnova Energy International from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, April 11th. B. Riley decreased their target price on shares of Sunnova Energy International from $21.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. BMO Capital Markets lowered their target price on shares of Sunnova Energy International from $10.00 to $6.00 and set a “market perform” rating for the company in a research note on Friday, May 3rd. Finally, Scotiabank cut their target price on Sunnova Energy International from $20.00 to $10.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 29th.

Institutional Investors Weigh In On Sunnova Energy International

Several large investors have recently modified their holdings of NOVA. Charles Schwab Investment Management Inc. increased its stake in Sunnova Energy International by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 780,177 shares of the company’s stock valued at $8,168,000 after purchasing an additional 31,010 shares during the period. Rhumbline Advisers raised its stake in shares of Sunnova Energy International by 1.8% during the third quarter. Rhumbline Advisers now owns 179,585 shares of the company’s stock worth $1,880,000 after purchasing an additional 3,144 shares during the last quarter. Dark Forest Capital Management LP purchased a new position in Sunnova Energy International in the 3rd quarter valued at $593,000. Teza Capital Management LLC increased its stake in Sunnova Energy International by 63.1% in the 3rd quarter. Teza Capital Management LLC now owns 43,574 shares of the company’s stock valued at $456,000 after buying an additional 16,862 shares during the period. Finally, Electron Capital Partners LLC raised its position in Sunnova Energy International by 42.9% during the 3rd quarter. Electron Capital Partners LLC now owns 5,308,684 shares of the company’s stock worth $55,582,000 after buying an additional 1,593,098 shares during the last quarter.

Sunnova Energy International Stock Down 6.3 %

Shares of NYSE NOVA opened at $5.23 on Tuesday. The firm has a market cap of $648.43 million, a price-to-earnings ratio of -1.55 and a beta of 2.19. The company’s 50-day simple moving average is $4.83 and its 200-day simple moving average is $7.56. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 3.41. Sunnova Energy International has a 52-week low of $3.37 and a 52-week high of $24.56.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.79) by $0.22. The company had revenue of $160.90 million for the quarter, compared to analysts’ expectations of $193.78 million. Sunnova Energy International had a negative return on equity of 12.10% and a negative net margin of 56.52%. Sunnova Energy International’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.70) EPS. Equities analysts predict that Sunnova Energy International will post -1.85 EPS for the current fiscal year.

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.