Sunnova Energy International (NYSE:NOVA) Now Covered by TD Cowen

TD Cowen started coverage on shares of Sunnova Energy International (NYSE:NOVA) in a research note issued to investors on Thursday, Marketbeat reports. The firm set a “hold” rating and a $5.00 price target on the stock. TD Cowen’s target price would suggest a potential upside of 38.12% from the stock’s current price.

NOVA has been the topic of several other reports. Morgan Stanley cut their price objective on shares of Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Friday, November 15th. Robert W. Baird cut their target price on Sunnova Energy International from $12.00 to $9.00 and set an “outperform” rating on the stock in a research report on Wednesday. BMO Capital Markets reaffirmed a “market perform” rating and set a $8.00 price objective (down from $10.00) on shares of Sunnova Energy International in a research note on Friday, November 1st. Jefferies Financial Group started coverage on shares of Sunnova Energy International in a research report on Thursday, October 10th. They issued a “buy” rating and a $15.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Sunnova Energy International from $9.00 to $6.25 and set a “hold” rating for the company in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Sunnova Energy International currently has a consensus rating of “Hold” and a consensus target price of $10.24.

Sunnova Energy International Price Performance

Shares of NYSE:NOVA opened at $3.62 on Thursday. The business has a fifty day simple moving average of $4.87 and a 200-day simple moving average of $6.92. Sunnova Energy International has a 52 week low of $2.99 and a 52 week high of $16.35. The company has a market cap of $452.32 million, a P/E ratio of -1.08 and a beta of 2.22. 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 (NYSE:NOVA) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.45). Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The firm had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $238.23 million. During the same period in the previous year, the company earned ($0.53) earnings per share. The business’s quarterly revenue was up 18.6% on a year-over-year basis. Equities research analysts forecast that Sunnova Energy International will post -2.44 EPS for the current year.

Insider Transactions at Sunnova Energy International

In other Sunnova Energy International news, CFO Eric Michael Williams purchased 13,800 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were acquired at an average cost of $3.60 per share, for a total transaction of $49,680.00. Following the transaction, the chief financial officer now directly owns 13,800 shares in the company, valued at approximately $49,680. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Akbar Mohamed acquired 50,000 shares of the business’s stock in a transaction on Monday, November 18th. The stock was acquired at an average price of $3.64 per share, with a total value of $182,000.00. Following the transaction, the director now owns 352,654 shares in the company, valued at approximately $1,283,660.56. The trade was a 16.52 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 118,517 shares of company stock valued at $439,605. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Sunnova Energy International

Several large investors have recently made changes to their positions in NOVA. Peapack Gladstone Financial Corp boosted its stake in Sunnova Energy International by 11.0% in the third quarter. Peapack Gladstone Financial Corp now owns 32,200 shares of the company’s stock valued at $314,000 after acquiring an additional 3,200 shares during the last quarter. Sanctuary Advisors LLC grew its stake in shares of Sunnova Energy International by 36.1% during the third quarter. Sanctuary Advisors LLC now owns 695,582 shares of the company’s stock worth $6,775,000 after purchasing an additional 184,683 shares during the period. Virtu Financial LLC bought a new stake in Sunnova Energy International in the third quarter valued at about $433,000. Geode Capital Management LLC increased its holdings in Sunnova Energy International by 3.6% in the third quarter. Geode Capital Management LLC now owns 2,562,684 shares of the company’s stock valued at $24,965,000 after purchasing an additional 88,945 shares during the last quarter. Finally, Sylebra Capital LLC lifted its stake in Sunnova Energy International by 125.6% in the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock valued at $121,195,000 after buying an additional 6,926,399 shares during the period.

Sunnova Energy International Company Profile

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.