The Goldman Sachs Group Raises Sunnova Energy International (NYSE:NOVA) Price Target to $13.00

Sunnova Energy International (NYSE:NOVA) had its price target hoisted by The Goldman Sachs Group from $10.00 to $13.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also weighed in on NOVA. Morgan Stanley reduced their price objective on Sunnova Energy International from $14.00 to $10.00 and set an equal weight rating on the stock in a research note on Friday, June 14th. Wells Fargo & Company reiterated an equal weight rating and set a $6.00 price objective (down from $11.00) on shares of Sunnova Energy International in a research report on Friday, April 19th. Evercore ISI dropped their price objective on shares of Sunnova Energy International from $26.00 to $17.00 and set an outperform rating for the company in a research note on Friday, May 3rd. KeyCorp cut Sunnova Energy International from an overweight rating to a sector weight rating in a research note on Tuesday, April 23rd. Finally, Susquehanna raised their price objective on Sunnova Energy International from $12.00 to $14.00 and gave the company a positive rating in a report on Friday. Eight investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $14.72.

Sunnova Energy International Price Performance

Sunnova Energy International stock traded down $0.23 during trading hours on Friday, reaching $7.76. 3,511,458 shares of the stock were exchanged, compared to its average volume of 8,468,901. The stock has a 50 day moving average of $6.13 and a two-hundred day moving average of $6.40. The company has a market cap of $962.10 million, a P/E ratio of -2.32 and a beta of 2.19. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 3.41. Sunnova Energy International has a twelve month low of $3.37 and a twelve month high of $16.78.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.27. Sunnova Energy International had a negative net margin of 45.76% and a negative return on equity of 9.28%. The business had revenue of $219.60 million for the quarter, compared to analysts’ expectations of $220.38 million. During the same period last year, the firm posted ($0.74) earnings per share. The firm’s quarterly revenue was up 32.0% compared to the same quarter last year. Equities analysts expect that Sunnova Energy International will post -1.89 EPS for the current fiscal year.

Insider Activity at Sunnova Energy International

In related news, insider William J. Berger 48,413 shares of the stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sunnova Energy International

Hedge funds and other institutional investors have recently modified their holdings of the stock. Manchester Capital Management LLC increased its stake in Sunnova Energy International by 2,959.7% in the 4th quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock worth $29,000 after purchasing an additional 1,835 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Sunnova Energy International during the 1st quarter valued at $25,000. Peoples Bank KS purchased a new stake in Sunnova Energy International during the 2nd quarter valued at $56,000. Caxton Associates LP bought a new stake in Sunnova Energy International in the 1st quarter worth $62,000. Finally, Headlands Technologies LLC purchased a new position in shares of Sunnova Energy International in the fourth quarter valued at about $157,000.

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.