Sunnova Energy International (NYSE:NOVA) Downgraded by KeyCorp to “Sector Weight”

KeyCorp downgraded shares of Sunnova Energy International (NYSE:NOVA) from an overweight rating to a sector weight rating in a research note released on Tuesday, Marketbeat reports.

Several other equities research analysts also recently issued reports on NOVA. Susquehanna lowered their price target on Sunnova Energy International from $20.00 to $12.00 and set a positive rating for the company in a report on Friday, April 5th. Mizuho lowered their target price on Sunnova Energy International from $21.00 to $17.00 and set a buy rating for the company in a research note on Friday, April 19th. B. Riley cut their price target on shares of Sunnova Energy International from $21.00 to $15.00 and set a buy rating on the stock in a research note on Monday. Janney Montgomery Scott raised shares of Sunnova Energy International from a neutral rating to a buy rating and set a $12.00 price objective for the company in a research report on Friday, March 22nd. Finally, Truist Financial reaffirmed a buy rating and issued a $16.00 price objective (down from $18.00) on shares of Sunnova Energy International in a research report on Monday, February 26th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Sunnova Energy International has an average rating of Moderate Buy and a consensus target price of $18.48.

Sunnova Energy International Stock Up 2.7 %

Shares of NYSE NOVA opened at $3.93 on Tuesday. Sunnova Energy International has a 52-week low of $3.52 and a 52-week high of $24.56. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap of $486.07 million, a P/E ratio of -1.12 and a beta of 2.08. The firm has a 50 day moving average price of $6.10 and a 200 day moving average price of $9.44.

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

Insider Activity at Sunnova Energy International

In other Sunnova Energy International news, insider Paul S. Mathews sold 9,500 shares of Sunnova Energy International stock in a transaction on Monday, March 11th. The shares were sold at an average price of $5.31, for a total transaction of $50,445.00. Following the completion of the transaction, the insider now directly owns 14,007 shares of the company’s stock, valued at $74,377.17. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Jack O. Lynch III sold 12,994 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $6.21, for a total value of $80,692.74. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Paul S. Mathews sold 9,500 shares of Sunnova Energy International stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $5.31, for a total value of $50,445.00. Following the sale, the insider now directly owns 14,007 shares of the company’s stock, valued at $74,377.17. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,580 shares of company stock worth $137,382. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Busey Bank bought a new stake in shares of Sunnova Energy International in the first quarter valued at about $250,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Sunnova Energy International in the 1st quarter valued at about $25,000. Raymond James Financial Services Advisors Inc. grew its position in shares of Sunnova Energy International by 229.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 335,814 shares of the company’s stock worth $2,059,000 after purchasing an additional 233,991 shares in the last quarter. First Trust Direct Indexing L.P. bought a new position in shares of Sunnova Energy International during the first quarter worth approximately $66,000. Finally, Vanguard Group Inc. increased its holdings in shares of Sunnova Energy International by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 10,486,392 shares of the company’s stock worth $159,917,000 after purchasing an additional 215,905 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.