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

Shares of Sunnova Energy International Inc. (NYSE:NOVA) have been assigned an average recommendation of “Moderate Buy” from the twenty-five research firms that are presently covering the firm, Marketbeat Ratings 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 12 month price objective among brokers that have issued a report on the stock in the last year is $15.14.

NOVA has been the topic of a number of recent analyst reports. B. Riley cut their price objective on 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. Royal Bank of Canada lifted their price target on shares of Sunnova Energy International from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Monday, August 5th. BMO Capital Markets decreased their price objective on shares of Sunnova Energy International from $10.00 to $6.00 and set a “market perform” rating for the company in a report on Friday, May 3rd. Barclays dropped their target price on shares of Sunnova Energy International from $18.00 to $12.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. Finally, Morgan Stanley reduced their price target on shares of Sunnova Energy International from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Friday, June 14th.

Institutional Trading of Sunnova Energy International

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

Sunnova Energy International Trading Up 17.8 %

Shares of NOVA opened at $7.80 on Wednesday. The stock has a market capitalization of $967.06 million, a P/E ratio of -2.31 and a beta of 2.19. Sunnova Energy International has a twelve month low of $3.37 and a twelve month high of $16.46. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 3.41. The firm has a fifty day simple moving average of $6.46 and a two-hundred day simple moving average of $6.25.

Sunnova Energy International (NYSE:NOVA) last posted its earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, topping 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 company had revenue of $219.60 million during the quarter, compared to analyst estimates of $220.38 million. During the same period in the prior year, the business posted ($0.74) earnings per share. Sunnova Energy International’s revenue for the quarter was up 32.0% on a year-over-year basis. On average, research analysts anticipate that Sunnova Energy International will post -1.89 EPS for the current year.

About Sunnova Energy International

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.