Piper Sandler Increases Sunnova Energy International (NYSE:NOVA) Price Target to $8.00

Sunnova Energy International (NYSE:NOVA) had its price target increased by Piper Sandler from $7.00 to $8.00 in a report issued on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities research analysts have also recently commented on the company. Scotiabank raised their target price on Sunnova Energy International from $10.00 to $14.00 and gave the stock a sector outperform rating in a research note on Tuesday, August 6th. Robert W. Baird raised their price objective on Sunnova Energy International from $12.00 to $14.00 and gave the company an outperform rating in a research note on Friday, August 2nd. Royal Bank of Canada raised their target price on Sunnova Energy International from $9.00 to $10.00 and gave the company an outperform rating in a report on Monday, August 5th. Guggenheim raised their target price on Sunnova Energy International from $7.00 to $10.00 and gave the company a buy rating in a report on Friday, July 26th. Finally, Evercore ISI dropped their target price on Sunnova Energy International from $26.00 to $17.00 and set an outperform rating on the stock in a report on Friday, May 3rd. Eight analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $15.14.

Sunnova Energy International Trading Up 8.4 %

Shares of NOVA stock opened at $8.40 on Monday. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -2.49 and a beta of 2.19. The stock has a 50-day moving average of $6.57 and a 200-day moving average of $6.27. 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 1-year low of $3.37 and a 1-year high of $16.35.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.27. Sunnova Energy International had a negative return on equity of 9.28% and a negative net margin of 45.76%. The company had revenue of $219.60 million during the quarter, compared to analysts’ expectations of $220.38 million. During the same quarter in the prior year, the firm posted ($0.74) earnings per share. The business’s quarterly revenue was up 32.0% on a year-over-year basis. On average, equities research analysts forecast that Sunnova Energy International will post -1.89 earnings per share for the current year.

Institutional Trading of Sunnova Energy International

A number of large investors have recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Sunnova Energy International by 56.7% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 14,142,487 shares of the company’s stock worth $78,915,000 after buying an additional 5,118,552 shares during the last quarter. Vanguard Group Inc. increased its position in Sunnova Energy International by 0.8% in the first quarter. Vanguard Group Inc. now owns 10,568,045 shares of the company’s stock worth $64,782,000 after buying an additional 81,653 shares during the last quarter. Electron Capital Partners LLC increased its position in Sunnova Energy International by 24.5% in the second quarter. Electron Capital Partners LLC now owns 3,004,938 shares of the company’s stock worth $16,768,000 after buying an additional 591,514 shares during the last quarter. Van ECK Associates Corp increased its position in Sunnova Energy International by 124.4% in the fourth quarter. Van ECK Associates Corp now owns 1,563,320 shares of the company’s stock worth $23,841,000 after buying an additional 866,705 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Sunnova Energy International by 7.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 842,130 shares of the company’s stock valued at $12,842,000 after purchasing an additional 61,953 shares in the last quarter.

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.