After Merrill Lynch and Evercore ISI gave Sunnova Energy International (NYSE: NOVA) a Buy rating last month, the company received another Buy, this time from Raymond James. Analyst Pavel Molchanov reiterated a Buy rating on Sunnova Energy International today and set a price target of $50.00. The company’s shares closed last Wednesday at $38.93.
According to TipRanks.com, Molchanov is a 5-star analyst with an average return of 15.8% and a 60.6% success rate. Molchanov covers the Utilities sector, focusing on stocks such as Maxeon Solar Technologies, Nextera Energy Partners, and Clean Energy Fuels.
Currently, the analyst consensus on Sunnova Energy International is a Strong Buy with an average price target of $55.88, representing a 42.7% upside. In a report issued on April 19, Evercore ISI also initiated coverage with a Buy rating on the stock with a $52.00 price target.
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Sunnova Energy International’s market cap is currently $4.49B and has a P/E ratio of -14.30. The company has a Price to Book ratio of 4.96.
Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NOVA in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Sunnova Energy International, Inc. engages in providing solar and energy storage services. It also offers services to customers who purchased their solar energy system through unaffiliated third parties. The company was founded in January, 2013 and is headquartered in Houston, TX.
