Sunnova Energy International (NYSE:NOVA) Now Covered by Jefferies Financial Group

by · The Markets Daily

Jefferies Financial Group began coverage on shares of Sunnova Energy International (NYSE:NOVA – Free Report) in a research note published on Thursday morning, Marketbeat reports. The firm issued a buy rating and a $15.00 target price on the stock.

Several other brokerages also recently commented on NOVA. Morgan Stanley raised their price objective on Sunnova Energy International from $11.00 to $13.00 and gave the stock an equal weight rating in a research note on Wednesday, August 21st. Robert W. Baird raised their price objective on Sunnova Energy International from $12.00 to $14.00 and gave the stock an outperform rating in a research note on Friday, August 2nd. Wells Fargo & Company raised their price objective on Sunnova Energy International from $6.00 to $9.00 and gave the stock an equal weight rating in a research note on Tuesday, August 6th. Barclays dropped their price objective on Sunnova Energy International from $18.00 to $12.00 and set an overweight rating on the stock in a research note on Tuesday, July 23rd. Finally, Guggenheim raised their price objective on Sunnova Energy International from $7.00 to $10.00 and gave the stock a buy rating in a research note on Friday, July 26th. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Sunnova Energy International currently has an average rating of Moderate Buy and a consensus price target of $12.57.

View Our Latest Stock Analysis on Sunnova Energy International

Sunnova Energy International Stock Up 1.1 %

Shares of NOVA opened at $6.57 on Thursday. The firm has a market capitalization of $820.33 million, a price-to-earnings ratio of -2.27 and a beta of 2.21. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.97 and a current ratio of 0.97. The business’s fifty day moving average price is $9.53 and its two-hundred day moving average price is $6.83. Sunnova Energy International has a 52 week low of $3.37 and a 52 week high of $16.35.

Sunnova Energy International (NYSE:NOVA – Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.27. The company had revenue of $219.60 million for the quarter, compared to the consensus estimate of $220.38 million. Sunnova Energy International had a negative return on equity of 8.85% and a negative net margin of 45.76%. The firm’s quarterly revenue was up 32.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.74) EPS. On average, analysts predict that Sunnova Energy International will post -1.86 earnings per share for the current year.

Insider Activity

In other news, insider William J. Berger sold 77,000 shares of Sunnova Energy International stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $11.31, for a total value of $870,870.00. Following the completion of the sale, the insider now directly owns 409,045 shares in the company, valued at approximately $4,626,298.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sunnova Energy International

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Handelsbanken Fonder AB raised its position in Sunnova Energy International by 9.1% during the third quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock valued at $71,097,000 after purchasing an additional 611,452 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Sunnova Energy International during the second quarter valued at approximately $1,042,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in Sunnova Energy International by 23.4% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 357,781 shares of the company’s stock valued at $1,996,000 after purchasing an additional 67,749 shares in the last quarter. Sylebra Capital LLC acquired a new position in Sunnova Energy International during the second quarter valued at approximately $30,783,000. Finally, Vanguard Group Inc. raised its position in Sunnova Energy International by 0.8% during the first quarter. Vanguard Group Inc. now owns 10,568,045 shares of the company’s stock valued at $64,782,000 after purchasing an additional 81,653 shares in the last quarter.

About Sunnova Energy International

(Get Free Report)

Sunnova Energy International Inc engages in the provision of 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 solar energy system and energy storage system diagnostics services.

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