Piper Sandler Remains a Buy on Sunnova Energy International (NOVA)

Piper Sandler analyst Kashy Harrison maintained a Buy rating on Sunnova Energy International (NOVA – Research Report) today and set a price target of $9.00. The company’s shares closed last Friday at $3.80.

Harrison covers the Technology sector, focusing on stocks such as Enphase Energy, First Solar, and Itron. According to TipRanks, Harrison has an average return of -17.9% and a 31.95% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Sunnova Energy International with a $14.47 average price target, implying a 280.79% upside from current levels. In a report released today, B.Riley Financial also maintained a Buy rating on the stock with a $15.00 price target.

Based on Sunnova Energy International’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $194.18 million and a GAAP net loss of $187.64 million. In comparison, last year the company earned a revenue of $195.59 million and had a GAAP net loss of $20.9 million

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NOVA in relation to earlier this year.

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Sunnova Energy International (NOVA) Company Description:

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.