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

Sunnova Energy International (NYSE:NOVA) had its target price lifted by Truist Financial from $9.00 to $10.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the company. Barclays reduced their price target on 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. The Goldman Sachs Group decreased their target price on shares of Sunnova Energy International from $14.00 to $12.00 and set a buy rating for the company in a research note on Thursday, April 11th. Guggenheim raised their price target on shares of Sunnova Energy International from $7.00 to $10.00 and gave the company a buy rating in a research report on Friday, July 26th. BMO Capital Markets cut 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. Finally, Piper Sandler lowered shares of Sunnova Energy International from an overweight rating to a neutral rating and lowered their target price for the stock from $9.00 to $4.50 in a research note on Tuesday, May 21st. Eight equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Sunnova Energy International currently has a consensus rating of Moderate Buy and a consensus price target of $14.80.

Sunnova Energy International Stock Performance

Shares of NYSE NOVA opened at $8.26 on Monday. The company has a 50 day simple moving average of $6.05 and a two-hundred day simple moving average of $6.48. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -2.45 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 12 month low of $3.37 and a 12 month high of $17.69.

Sunnova Energy International (NYSE:NOVA) last posted its earnings results 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. The company had revenue of $219.60 million during the quarter, compared to the consensus estimate of $220.38 million. Sunnova Energy International had a negative net margin of 56.52% and a negative return on equity of 12.10%. The firm’s quarterly revenue was up 32.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.74) earnings per share. As a group, analysts predict that Sunnova Energy International will post -1.89 earnings per share for the current year.

Insider Buying and Selling at Sunnova Energy International

In related news, insider William J. Berger 48,413 shares of the company’s stock in a transaction on Tuesday, July 30th. The was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.50% of the stock is owned by company insiders.

Institutional Trading of Sunnova Energy International

Hedge funds and other institutional investors have recently made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Sunnova Energy International in the first quarter worth approximately $25,000. Manchester Capital Management LLC lifted its position 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 buying an additional 1,835 shares during the last quarter. Peoples Bank KS acquired a new position in Sunnova Energy International in the second quarter valued at about $56,000. Caxton Associates LP purchased a new position in Sunnova Energy International during the first quarter worth about $62,000. Finally, First Trust Direct Indexing L.P. purchased a new stake in shares of Sunnova Energy International in the 1st quarter valued at approximately $66,000.

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.