In yesterday’s Wall Street session, Sunnova Energy International Inc. (NYSE:NOVA) shares traded at $12.97, down -5.67% from the previous session.
As of this writing, 26 analysts cover Sunnova Energy International Inc. (NYSE:NOVA). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $58.00 and a low of $17.00, we find $29.50. Given the previous closing price of $13.75, this indicates a potential upside of 114.55 percent. NOVA stock price is now -22.36% away from the 50-day moving average and -26.08% away from the 200-day moving average. The market capitalization of the company currently stands at $1.61B.
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There are 5 analysts who have given it a hold rating, whereas 18 have given it a buy rating. Brokers who have rated the stock have averaged $30.42 as their price target over the next twelve months.
With the price target reduced from $27 to $25, BMO Capital Markets Downgraded its rating from Outperform to Market Perform for Sunnova Energy International Inc. (NYSE: NOVA).
In other news, Berger William J, insider sold 47,150 shares of the company’s stock on Aug 01. The stock was sold for $841,991 at an average price of $17.86. Upon completion of the transaction, the insider now directly owns 365,222 shares in the company, valued at $4.74 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 19, Director Mohamed Akbar bought 10,000 shares of the business’s stock. A total of $143,700 was incurred on buying the stock at an average price of $14.37. This leaves the insider owning 83,689 shares of the company worth $1.09 million. Insiders disposed of 153,235 shares of company stock worth roughly $1.99 million over the past 1 year. A total of 0.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in NOVA stock. A new stake in Sunnova Energy International Inc. shares was purchased by HOOD RIVER CAPITAL MANAGEMENT LLC during the first quarter worth $33,115,000. CORIENT PRIVATE WEALTH LLC invested $29,461,000 in shares of NOVA during the first quarter. In the first quarter, WELLINGTON MANAGEMENT GROUP LLP acquired a new stake in Sunnova Energy International Inc. valued at approximately $11,938,000. MONEY CONCEPTS CAPITAL CORP acquired a new stake in NOVA for approximately $6,839,000. AGF INVESTMENTS INC. purchased a new stake in NOVA valued at around $4,799,000 in the second quarter. In total, there are 371 active investors with 127.98% ownership of the company’s stock.
Wednesday morning saw Sunnova Energy International Inc. (NYSE: NOVA) opened at $13.70. During the past 12 months, Sunnova Energy International Inc. has had a low of $12.46 and a high of $29.13. As of last week, the company has a debt-to-equity ratio of 4.58, a current ratio of 1.30, and a quick ratio of 1.00. The fifty day moving average price for NOVA is $16.60 and a two-hundred day moving average price translates $17.50 for the stock.
The latest earnings results from Sunnova Energy International Inc. (NYSE: NOVA) was released for Jun, 2023. According to the Solar Company, earnings per share came in at -$0.74, missing analysts’ expectations of -$0.42 by -0.32. This compares to -$0.12 EPS in the same period last year. The net profit margin was -38.40% and return on equity was -19.90% for NOVA. The company reported revenue of $166.38 million for the quarter, compared to $147.01 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 13.17 percent. For the current quarter, analysts expect NOVA to generate $210.98M in revenue.
Sunnova Energy International Inc.(NOVA) Company Profile
Sunnova Energy International Inc. provides 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 diagnostics services. As of December 31, 2022, it operated a fleet of residential solar energy systems with a generation capacity of approximately 1,627 megawatts serving over 279,000 customers. Sunnova Energy International Inc. was incorporated in 2012 and is headquartered in Houston, Texas.
