Sunnova Energy International Inc. (NYSE:NOVA) Receives $4.36 Average Price Target from Analysts

Sunnova Energy International Inc. (NYSE:NOVA) has been given a consensus recommendation of “Hold” by the twenty-six brokerages that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, twenty-two have issued a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $4.36.

A number of analysts have recently weighed in on NOVA shares. Capital One Financial cut Sunnova Energy International from an “overweight” rating to an “equal weight” rating in a research report on Monday, March 3rd. Roth Mkm lowered Sunnova Energy International from a “buy” rating to a “neutral” rating in a research note on Monday, March 3rd. Truist Financial downgraded shares of Sunnova Energy International from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. BMO Capital Markets lowered their target price on shares of Sunnova Energy International from $4.00 to $0.85 and set a “market perform” rating for the company in a research note on Tuesday, March 4th. Finally, Mizuho lowered shares of Sunnova Energy International from an “outperform” rating to a “neutral” rating and cut their price target for the company from $11.00 to $1.00 in a research note on Wednesday, March 5th.

Sunnova Energy International Trading Down 28.2%

NYSE NOVA opened at $0.16 on Tuesday. The company has a 50 day moving average price of $0.20 and a 200 day moving average price of $1.61. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26. Sunnova Energy International has a 52 week low of $0.15 and a 52 week high of $13.00. The firm has a market cap of $19.86 million, a PE ratio of -0.05 and a beta of 2.99.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of Sunnova Energy International by 77.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,760,198 shares of the company’s stock worth $6,037,000 after acquiring an additional 768,803 shares in the last quarter. Stratos Wealth Partners LTD. purchased a new position in Sunnova Energy International during the fourth quarter worth approximately $114,000. Teilinger Capital Ltd. purchased a new position in Sunnova Energy International during the fourth quarter worth approximately $3,588,000. American Century Companies Inc. grew its holdings in Sunnova Energy International by 22.2% in the fourth quarter. American Century Companies Inc. now owns 259,678 shares of the company’s stock valued at $891,000 after purchasing an additional 47,089 shares during the period. Finally, Atria Wealth Solutions Inc. increased its position in shares of Sunnova Energy International by 85.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 24,845 shares of the company’s stock valued at $85,000 after buying an additional 11,435 shares in the last quarter.

About Sunnova Energy International

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.