Sunnova Energy International Inc. (NYSE:NOVA) Receives Consensus Recommendation of “Buy” from Brokerages

Sunnova Energy International Inc. (NYSE:NOVA) has received a consensus recommendation of “Buy” from the nineteen research firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $53.94.

A number of research firms have weighed in on NOVA. B. Riley raised their price objective on shares of Sunnova Energy International from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, October 29th. Zacks Investment Research upgraded shares of Sunnova Energy International from a “sell” rating to a “hold” rating in a research note on Tuesday, November 2nd. Truist Securities initiated coverage on shares of Sunnova Energy International in a research note on Friday, October 15th. They set a “buy” rating and a $50.00 price objective for the company. Wolfe Research initiated coverage on shares of Sunnova Energy International in a research note on Tuesday, August 31st. They issued an “outperform” rating and a $50.00 price target for the company. Finally, BMO Capital Markets initiated coverage on shares of Sunnova Energy International in a research note on Thursday, September 30th. They issued an “outperform” rating and a $50.00 price target for the company.

In other Sunnova Energy International news, Director Michael C. Morgan sold 30,000 shares of Sunnova Energy International stock in a transaction that occurred on Thursday, October 28th. The shares were sold at an average price of $44.33, for a total transaction of $1,329,900.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael C. Morgan sold 31,868 shares of Sunnova Energy International stock in a transaction that occurred on Wednesday, October 20th. The shares were sold at an average price of $40.81, for a total transaction of $1,300,533.08. The disclosure for this sale can be found here. Insiders have sold 6,062,778 shares of company stock valued at $250,350,655 over the last 90 days. 4.10% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Capital Analysts LLC purchased a new position in shares of Sunnova Energy International in the second quarter worth $40,000. Banque Cantonale Vaudoise purchased a new position in shares of Sunnova Energy International in the second quarter worth $45,000. Bbva USA purchased a new position in shares of Sunnova Energy International in the second quarter worth $47,000. Berman Capital Advisors LLC lifted its holdings in shares of Sunnova Energy International by 59.4% in the second quarter. Berman Capital Advisors LLC now owns 1,369 shares of the company’s stock worth $51,000 after buying an additional 510 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Sunnova Energy International by 37.5% in the third quarter. US Bancorp DE now owns 1,522 shares of the company’s stock worth $50,000 after buying an additional 415 shares in the last quarter.

NYSE:NOVA traded down $0.75 on Thursday, reaching $38.13. 1,209,485 shares of the stock traded hands, compared to its average volume of 2,203,950. The firm has a market capitalization of $4.28 billion, a P/E ratio of -18.24 and a beta of 2.13. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 2.17. Sunnova Energy International has a 12 month low of $24.63 and a 12 month high of $57.70. The stock’s fifty day moving average is $37.39.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings data on Wednesday, October 27th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). Sunnova Energy International had a negative net margin of 100.43% and a negative return on equity of 8.58%. During the same quarter in the prior year, the business earned ($0.15) EPS. As a group, research analysts predict that Sunnova Energy International will post -1.29 EPS for the current fiscal year.

Sunnova Energy International Company Profile

Sunnova Energy International, Inc engages in providing solar and energy storage services. It also offers services to customers who purchased their solar energy system through unaffiliated third parties. The company was founded by William J. (John) Berger on October 22, 2012 and is headquartered in Houston, TX.

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Analyst Recommendations for Sunnova Energy International (NYSE:NOVA)

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