Sunnova Energy International (NYSE:NOVA) PT Lowered to $15.00

Sunnova Energy International (NYSE:NOVA) had its price target reduced by B. Riley from $21.00 to $15.00 in a report published on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently issued reports on NOVA. Mizuho lowered their price objective on Sunnova Energy International from $21.00 to $17.00 and set a buy rating on the stock in a research report on Friday. Truist Financial reissued a buy rating and issued a $16.00 price objective (down previously from $18.00) on shares of Sunnova Energy International in a research note on Monday, February 26th. Evercore ISI reduced their price objective on Sunnova Energy International from $29.00 to $26.00 and set an outperform rating on the stock in a research note on Friday, February 23rd. Susquehanna reduced their price objective on Sunnova Energy International from $20.00 to $12.00 and set a positive rating on the stock in a research note on Friday, April 5th. Finally, Janney Montgomery Scott raised Sunnova Energy International from a neutral rating to a buy rating and set a $12.00 price objective on the stock in a research note on Friday, March 22nd. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sunnova Energy International has a consensus rating of Moderate Buy and a consensus target price of $18.48.

Sunnova Energy International Stock Performance

Shares of NYSE NOVA opened at $3.82 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.58. The business’s 50 day moving average is $6.23 and its two-hundred day moving average is $9.47. The company has a market cap of $472.45 million, a P/E ratio of -1.09 and a beta of 2.08. Sunnova Energy International has a 12 month low of $3.52 and a 12 month high of $24.56.

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

Insiders Place Their Bets

In other Sunnova Energy International news, Director Akbar Mohamed purchased 152,450 shares of the stock in a transaction on Wednesday, February 28th. The stock was bought at an average cost of $6.92 per share, for a total transaction of $1,054,954.00. Following the completion of the acquisition, the director now directly owns 236,139 shares of the company’s stock, valued at $1,634,081.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Jack O. Lynch III sold 12,994 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $6.21, for a total transaction of $80,692.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Akbar Mohamed acquired 152,450 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were purchased at an average price of $6.92 per share, with a total value of $1,054,954.00. Following the completion of the acquisition, the director now 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. Insiders sold 23,580 shares of company stock worth $137,382 over the last ninety days. 4.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Manchester Capital Management LLC grew its holdings in shares of Sunnova Energy International by 2,959.7% during the fourth quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock worth $29,000 after buying an additional 1,835 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Sunnova Energy International by 158.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,036 shares of the company’s stock valued at $74,000 after purchasing an additional 4,310 shares during the last quarter. Headlands Technologies LLC acquired a new position in Sunnova Energy International during the fourth quarter valued at approximately $157,000. Ballentine Partners LLC acquired a new position in Sunnova Energy International during the fourth quarter valued at approximately $161,000. Finally, First Trust Direct Indexing L.P. acquired a new position in Sunnova Energy International during the first quarter valued at approximately $66,000.

About Sunnova Energy International

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.