Sunnova Energy International (NYSE:NOVA) Price Target Cut to $9.00

Sunnova Energy International (NYSE:NOVA) had its target price cut by Truist Financial from $16.00 to $9.00 in a research note released on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

NOVA has been the topic of a number of other reports. Wells Fargo & Company reiterated an equal weight rating and set a $6.00 price target (down from $11.00) on shares of Sunnova Energy International in a research note on Friday, April 19th. Evercore ISI dropped their target price on Sunnova Energy International from $29.00 to $26.00 and set an outperform rating on the stock in a research report on Friday, February 23rd. Janney Montgomery Scott raised Sunnova Energy International from a neutral rating to a buy rating and set a $12.00 price target for the company in a report on Friday, March 22nd. The Goldman Sachs Group dropped their price objective on Sunnova Energy International from $14.00 to $12.00 and set a buy rating on the stock in a report on Thursday, April 11th. Finally, Susquehanna cut their price objective on Sunnova Energy International from $20.00 to $12.00 and set a positive rating for the company in a research report on Friday, April 5th. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $16.71.

Sunnova Energy International Trading Up 8.3 %

Shares of NOVA stock opened at $4.79 on Tuesday. The company has a market capitalization of $592.57 million, a P/E ratio of -1.43 and a beta of 2.15. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.58. The business’s 50 day moving average is $5.11 and its two-hundred day moving average is $9.15. Sunnova Energy International has a twelve month low of $3.37 and a twelve month high of $24.56.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.57) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.22. The firm had revenue of $160.90 million for the quarter, compared to analyst estimates of $193.78 million. Sunnova Energy International had a negative net margin of 56.52% and a negative return on equity of 12.35%. Sunnova Energy International’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the firm posted ($0.70) EPS. Equities analysts forecast that Sunnova Energy International will post -2.39 EPS for the current year.

Insider Activity at Sunnova Energy International

In other news, insider Paul S. Mathews sold 9,500 shares of Sunnova Energy International stock in a transaction dated 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 sale, the insider now directly owns 14,007 shares in the company, valued at $74,377.17. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Paul S. Mathews sold 9,500 shares of Sunnova Energy International stock in a transaction 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 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 document filed with the SEC, which is available through the SEC website. Also, Director Akbar Mohamed bought 152,450 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was acquired at an average price of $6.92 per share, with a total value of $1,054,954.00. Following the completion of the purchase, the director now directly owns 236,139 shares of the company’s stock, valued at approximately $1,634,081.88. The disclosure for this purchase can be found here. In the last quarter, insiders sold 23,580 shares of company stock valued at $137,382. 4.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Sunnova Energy International

Hedge funds have recently modified their holdings of the stock. Ballentine Partners LLC acquired a new position in Sunnova Energy International during the fourth quarter worth approximately $161,000. Vanguard Group Inc. raised its position in shares of Sunnova Energy International by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 10,270,487 shares of the company’s stock worth $107,532,000 after buying an additional 379,032 shares during the period. Van ECK Associates Corp boosted its holdings in Sunnova Energy International by 124.4% in the fourth quarter. Van ECK Associates Corp now owns 1,563,320 shares of the company’s stock valued at $23,841,000 after acquiring an additional 866,705 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in Sunnova Energy International in the third quarter valued at $593,000. Finally, Money Concepts Capital Corp grew its position in Sunnova Energy International by 20.3% during the third quarter. Money Concepts Capital Corp now owns 634,117 shares of the company’s stock valued at $6,639,000 after acquiring an additional 106,819 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.