Guggenheim Boosts Sunnova Energy International (NYSE:NOVA) Price Target to $10.00

Sunnova Energy International (NYSE:NOVA) had its target price boosted by Guggenheim from $7.00 to $10.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a buy rating on the stock.

NOVA has been the topic of a number of other research reports. Wells Fargo & Company reiterated an equal weight rating and issued a $6.00 target price (down previously from $11.00) on shares of Sunnova Energy International in a research note on Friday, April 19th. Scotiabank reduced 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 note on Monday, April 29th. Morgan Stanley reduced their target price 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. KeyCorp lowered Sunnova Energy International from an overweight rating to a sector weight rating in a research note on Tuesday, April 23rd. Finally, Robert W. Baird reduced their target price on Sunnova Energy International from $14.00 to $12.00 and set an outperform rating on the stock in a research note on Friday, May 3rd. Eight investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Sunnova Energy International currently has an average rating of Moderate Buy and a consensus price target of $14.80.

Sunnova Energy International Stock Down 10.1 %

NYSE NOVA opened at $7.23 on Friday. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.74 and a current ratio of 0.74. The company has a market capitalization of $896.39 million, a P/E ratio of -2.15 and a beta of 2.19. Sunnova Energy International has a one year low of $3.37 and a one year high of $18.49. The stock has a 50 day moving average price of $5.85 and a 200-day moving average price of $6.50.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.57) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.22. The company had revenue of $160.90 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company earned ($0.70) earnings per share. As a group, equities analysts predict that Sunnova Energy International will post -1.89 EPS for the current fiscal year.

Institutional Investors Weigh In On Sunnova Energy International

A number of institutional investors and hedge funds have recently modified their holdings of NOVA. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Sunnova Energy International in the first quarter valued at approximately $25,000. Manchester Capital Management LLC lifted 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 valued at $29,000 after acquiring an additional 1,835 shares during the period. Peoples Bank KS acquired a new position in Sunnova Energy International in the second quarter valued at approximately $56,000. Caxton Associates LP acquired a new position in Sunnova Energy International in the first quarter valued at approximately $62,000. Finally, First Trust Direct Indexing L.P. acquired a new position in Sunnova Energy International in the first quarter valued at approximately $66,000.

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.