Sunnova Energy International (NYSE:NOVA – Get Rating) had its price target raised by equities researchers at Piper Sandler from $25.00 to $26.00 in a note issued to investors on Thursday, The Fly reports. Piper Sandler’s price target would suggest a potential upside of 31.78% from the stock’s previous close.
Several other equities analysts have also recently weighed in on the company. Susquehanna began coverage on Sunnova Energy International in a report on Monday, October 17th. They set a “positive” rating and a $38.00 price target on the stock. Wolfe Research cut Sunnova Energy International from an “outperform” rating to a “peer perform” rating in a report on Thursday, October 20th. B. Riley increased their price target on Sunnova Energy International from $30.00 to $32.00 in a report on Monday, November 21st. Citigroup initiated coverage on Sunnova Energy International in a report on Thursday, December 15th. They set a “buy” rating and a $26.00 price target on the stock. Finally, Janney Montgomery Scott initiated coverage on Sunnova Energy International in a report on Thursday, December 1st. They issued a “buy” rating and a $33.00 target price on the stock. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.53.
Sunnova Energy International Stock Performance
Shares of NOVA opened at $19.73 on Thursday. The business’s fifty day simple moving average is $20.25 and its two-hundred day simple moving average is $22.11. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 3.00. Sunnova Energy International has a 12 month low of $12.47 and a 12 month high of $31.47. The company has a market cap of $2.27 billion, a price-to-earnings ratio of -15.29 and a beta of 2.08.
Sunnova Energy International (NYSE:NOVA – Get Rating) last issued its earnings results on Wednesday, October 26th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.26). Sunnova Energy International had a negative net margin of 34.38% and a negative return on equity of 10.57%. The business had revenue of $149.36 million for the quarter, compared to analysts’ expectations of $129.49 million. Research analysts anticipate that Sunnova Energy International will post -1.53 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in NOVA. Advisor Group Holdings Inc. grew its position 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 worth $387,000 after acquiring an additional 907 shares in the last quarter. Teacher Retirement System of Texas grew its position 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 worth $395,000 after acquiring an additional 912 shares in the last quarter. Swiss National Bank grew its position in Sunnova Energy International by 7.5% in the first quarter. Swiss National Bank now owns 199,100 shares of the company’s stock worth $4,591,000 after acquiring an additional 13,900 shares in the last quarter. Raymond James & Associates grew its position in Sunnova Energy International by 185.3% in the first quarter. Raymond James & Associates now owns 41,819 shares of the company’s stock worth $964,000 after acquiring an additional 27,160 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Sunnova Energy International by 199.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 47,501 shares of the company’s stock valued at $1,095,000 after buying an additional 31,646 shares during the period.
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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