Sunnova Energy International (NYSE:NOVA – Get Rating) had its price target increased by equities researchers at JPMorgan Chase & Co. from $43.00 to $54.00 in a research report issued on Monday, The Fly reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 97.37% from the company’s previous close.
A number of other equities research analysts have also issued reports on NOVA. B. Riley lifted their target price on Sunnova Energy International from $26.00 to $35.00 in a research report on Friday, July 29th. Piper Sandler cut Sunnova Energy International from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $27.00 to $23.00 in a report on Tuesday, July 19th. Wells Fargo & Company upped their target price on Sunnova Energy International from $22.00 to $27.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 3rd. The Goldman Sachs Group lowered Sunnova Energy International from a “buy” rating to a “neutral” rating and reduced their price target for the company from $31.00 to $24.00 in a research report on Monday, June 20th. Finally, Northland Securities initiated coverage on Sunnova Energy International in a report on Wednesday, May 18th. They issued an “outperform” rating and a $30.00 price target on the stock. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.87.
Sunnova Energy International Trading Down 0.8 %
Shares of NYSE NOVA opened at $27.36 on Monday. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of -27.58 and a beta of 2.33. The business has a 50 day simple moving average of $20.89 and a 200 day simple moving average of $20.13. Sunnova Energy International has a 52 week low of $12.47 and a 52 week high of $46.40. The company has a debt-to-equity ratio of 2.45, a quick ratio of 1.73 and a current ratio of 1.73.
Sunnova Energy International (NYSE:NOVA – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.01). The business had revenue of $147.01 million during the quarter, compared to the consensus estimate of $86.90 million. Sunnova Energy International had a negative net margin of 32.41% and a negative return on equity of 8.70%. The firm’s revenue was up 120.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.42) earnings per share. On average, research analysts predict that Sunnova Energy International will post -1.28 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Sunnova Energy International news, insider Meghan Nutting sold 2,999 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $24.51, for a total transaction of $73,505.49. Following the completion of the transaction, the insider now owns 38,690 shares of the company’s stock, valued at approximately $948,291.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Sunnova Energy International news, insider Meghan Nutting sold 2,999 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $24.51, for a total transaction of $73,505.49. Following the completion of the transaction, the insider now owns 38,690 shares of the company’s stock, valued at approximately $948,291.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William J. Berger sold 150,000 shares of the stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $30.04, for a total transaction of $4,506,000.00. Following the transaction, the insider now directly owns 301,142 shares of the company’s stock, valued at approximately $9,046,305.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 154,999 shares of company stock valued at $4,635,505. Company insiders own 4.20% of the company’s stock.
Institutional Trading of Sunnova Energy International
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its holdings in Sunnova Energy International by 30.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,600 shares of the company’s stock valued at $51,000 after buying an additional 600 shares during the period. Ensign Peak Advisors Inc raised its holdings in shares of Sunnova Energy International by 3.4% during the first quarter. Ensign Peak Advisors Inc now owns 21,510 shares of the company’s stock worth $496,000 after purchasing an additional 710 shares during the last quarter. ETF Managers Group LLC raised its holdings in shares of Sunnova Energy International by 5.0% during the fourth quarter. ETF Managers Group LLC now owns 16,737 shares of the company’s stock worth $460,000 after purchasing an additional 795 shares during the last quarter. Advisor Group Holdings Inc. increased its holdings in Sunnova Energy International by 23.4% in the first quarter. Advisor Group Holdings Inc. now owns 4,788 shares of the company’s stock valued at $387,000 after buying an additional 907 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in Sunnova Energy International by 5.6% in the first quarter. Teacher Retirement System of Texas now owns 17,143 shares of the company’s stock valued at $395,000 after buying an additional 912 shares in the last quarter.
About Sunnova Energy International
Sunnova Energy International Inc provides residential energy services 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, 2021, it operated a fleet of residential solar energy systems with a generation capacity of approximately 1,140 megawatts serving over 195,000 customers.
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