Sunnova Energy International (NYSE:NOVA – Get Free Report) was upgraded by equities research analysts at Truist Financial from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Marketbeat reports. The firm presently has a $18.00 price objective on the stock, up from their previous price objective of $10.00. Truist Financial’s price target would indicate a potential upside of 72.41% from the company’s previous close.
A number of other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Sunnova Energy International from $29.00 to $18.00 and set an “overweight” rating for the company in a research note on Thursday, October 19th. Piper Sandler raised shares of Sunnova Energy International from a “neutral” rating to an “overweight” rating and upped their target price for the company from $13.00 to $26.00 in a report on Tuesday, December 19th. Roth Mkm reaffirmed a “buy” rating and issued a $58.00 target price on shares of Sunnova Energy International in a report on Tuesday, October 10th. Guggenheim decreased their target price on shares of Sunnova Energy International from $30.00 to $17.00 in a research report on Wednesday, September 27th. Finally, Susquehanna decreased their target price on shares of Sunnova Energy International from $32.00 to $25.00 and set a “positive” rating on the stock in a research report on Monday, October 2nd. Three analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.56.
Check Out Our Latest Stock Analysis on Sunnova Energy International
Sunnova Energy International Stock Performance
Shares of Sunnova Energy International stock opened at $10.44 on Tuesday. The firm has a fifty day moving average of $12.39 and a two-hundred day moving average of $13.08. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of -4.86 and a beta of 2.23. Sunnova Energy International has a 52 week low of $7.61 and a 52 week high of $24.56. The company has a debt-to-equity ratio of 3.23, a quick ratio of 1.14 and a current ratio of 1.14.
Sunnova Energy International (NYSE:NOVA – Get Free Report) last announced its quarterly 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). Sunnova Energy International had a negative net margin of 34.79% and a negative return on equity of 14.83%. The firm had revenue of $198.40 million during the quarter, compared to analyst estimates of $197.21 million. As a group, equities research analysts predict that Sunnova Energy International will post -2.05 EPS for the current year.
Hedge Funds Weigh In On Sunnova Energy International
A number of hedge funds have recently bought and sold shares of NOVA. Captrust Financial Advisors raised its stake in Sunnova Energy International by 236.4% during the first quarter. Captrust Financial Advisors now owns 1,487 shares of the company’s stock worth $34,000 after buying an additional 1,045 shares during the last quarter. Steward Partners Investment Advisory LLC raised 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 buying an additional 1,200 shares during the last quarter. Quarry LP acquired a new stake in Sunnova Energy International in the first quarter worth $36,000. Register Financial Advisors LLC acquired a new stake in Sunnova Energy International in the second quarter worth $37,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Sunnova Energy International by 34.6% in 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.
About Sunnova Energy International
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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Source: marketbeat.com
