Sunnova Energy International (NYSE:NOVA) Price Target Lowered to $15.00 at B. Riley

Sunnova Energy International (NYSE:NOVA) had its target price lowered by B. Riley from $21.00 to $15.00 in a research note published on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also issued reports about the stock. Northland Securities restated a market perform rating and issued a $9.00 target price (down from $12.00) on shares of Sunnova Energy International in a report on Friday, February 23rd. The Goldman Sachs Group reduced their target price on shares of Sunnova Energy International from $14.00 to $12.00 and set a buy rating on the stock in a report on Thursday, April 11th. Susquehanna reduced their target price on shares of Sunnova Energy International from $20.00 to $12.00 and set a positive rating on the stock in a report on Friday, April 5th. Evercore ISI cut their price objective on shares of Sunnova Energy International from $29.00 to $26.00 and set an outperform rating on the stock in a report on Friday, February 23rd. Finally, Wells Fargo & Company reiterated an equal weight rating and set a $6.00 price objective (down from $11.00) on shares of Sunnova Energy International in a report on Friday. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $18.48.

Sunnova Energy International Price Performance

Shares of NYSE NOVA opened at $3.82 on Monday. The stock has a market cap of $472.45 million, a price-to-earnings ratio of -1.09 and a beta of 2.08. Sunnova Energy International has a 52 week low of $3.52 and a 52 week high of $24.56. The company’s 50-day moving average price is $6.23 and its 200 day moving average price is $9.47. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.58.

Sunnova Energy International (NYSE:NOVA) last released its earnings results on Wednesday, February 21st. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.04. The company had revenue of $194.18 million for the quarter, compared to analyst estimates of $226.09 million. Sunnova Energy International had a negative net margin of 58.00% and a negative return on equity of 13.26%. As a group, research analysts forecast that Sunnova Energy International will post -2.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Sunnova Energy International

In other Sunnova Energy International news, insider Paul S. Mathews sold 9,500 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $5.31, for a total value of $50,445.00. Following the completion of the sale, the insider now owns 14,007 shares of the company’s stock, valued at $74,377.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Sunnova Energy International news, insider Paul S. Mathews sold 9,500 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $5.31, for a total value of $50,445.00. Following the completion of the sale, the insider now owns 14,007 shares of the company’s stock, valued at $74,377.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Akbar Mohamed acquired 152,450 shares of the stock in a transaction on Wednesday, February 28th. The stock was purchased at an average cost of $6.92 per share, with a total value of $1,054,954.00. Following the transaction, the director now directly owns 236,139 shares of the company’s stock, valued at $1,634,081.88. The disclosure for this purchase can be found here. Insiders sold 23,580 shares of company stock valued at $137,382 over the last 90 days. 4.50% of the stock is owned by corporate insiders.

Institutional Trading of Sunnova Energy International

A number of hedge funds have recently made changes to their positions in NOVA. Commonwealth Equity Services LLC grew its position in shares of Sunnova Energy International by 34.0% during the third quarter. Commonwealth Equity Services LLC now owns 17,527 shares of the company’s stock worth $184,000 after buying an additional 4,450 shares in the last quarter. Raymond James & Associates grew its position in shares of Sunnova Energy International by 19.5% during the third quarter. Raymond James & Associates now owns 95,096 shares of the company’s stock worth $996,000 after buying an additional 15,503 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Sunnova Energy International by 3.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 66,485 shares of the company’s stock worth $696,000 after buying an additional 1,962 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of Sunnova Energy International by 37.2% during the third quarter. Mackenzie Financial Corp now owns 115,657 shares of the company’s stock worth $1,211,000 after buying an additional 31,338 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Sunnova Energy International by 4.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 105,299 shares of the company’s stock worth $1,102,000 after buying an additional 4,411 shares in the last quarter.

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.