Sunnova Energy International Inc. (NYSE:NOVA) Given Average Rating of “Moderate Buy” by Analysts
Shares of Sunnova Energy International Inc. (NYSE:NOVA – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the twenty-four brokerages that are covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation, seventeen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $22.44.
A number of brokerages have issued reports on NOVA. Piper Sandler cut their price target on shares of Sunnova Energy International from $23.00 to $13.00 and set a “neutral” rating on the stock in a report on Friday, October 13th. JPMorgan Chase & Co. lowered their price target on shares of Sunnova Energy International from $29.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, October 19th. Truist Financial cut shares of Sunnova Energy International from a “buy” rating to a “hold” rating and lowered their price target for the company from $35.00 to $11.00 in a research report on Wednesday, October 4th. UBS Group assumed coverage on shares of Sunnova Energy International in a research note on Monday, October 2nd. They set a “buy” rating and a $16.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $12.50 price objective (down from $23.00) on shares of Sunnova Energy International in a research note on Friday, October 20th.
Read Our Latest Report on Sunnova Energy International
Institutional Investors Weigh In On Sunnova Energy International
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Captrust Financial Advisors boosted its stake in Sunnova Energy International by 236.4% during the 1st quarter. Captrust Financial Advisors now owns 1,487 shares of the company’s stock worth $34,000 after purchasing an additional 1,045 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in Sunnova Energy International by 108.9% during the first quarter. Steward Partners Investment Advisory LLC now owns 2,302 shares of the company’s stock worth $36,000 after purchasing an additional 1,200 shares during the period. Quarry LP purchased a new stake in Sunnova Energy International during the first quarter worth about $36,000. Register Financial Advisors LLC purchased a new stake in Sunnova Energy International during the second quarter worth about $37,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Sunnova Energy International by 34.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,726 shares of the company’s stock worth $50,000 after purchasing an additional 700 shares during the period.
Sunnova Energy International Stock Performance
Shares of NOVA stock opened at $12.41 on Friday. The stock has a market capitalization of $1.52 billion, a P/E ratio of -5.77 and a beta of 2.18. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 3.23. The firm’s 50 day moving average is $10.08 and its 200 day moving average is $14.21. Sunnova Energy International has a 12 month low of $7.61 and a 12 month high of $24.56.
Sunnova Energy International (NYSE:NOVA – Get Free Report) last posted its earnings results on Wednesday, October 25th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.19). The firm had revenue of $198.40 million during the quarter, compared to analysts’ expectations of $197.21 million. Sunnova Energy International had a negative return on equity of 14.83% and a negative net margin of 34.79%. On average, sell-side analysts anticipate that Sunnova Energy International will post -1.86 earnings per share for the current year.
Sunnova Energy International Company Profile (Get Free Report
Sunnova Energy International Inc provides 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 diagnostics services. As of December 31, 2022, it operated a fleet of residential solar energy systems with a generation capacity of approximately 1,627 megawatts serving over 279,000 customers.
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