The Goldman Sachs Group Lowers Sunnova Energy International (NYSE:NOVA) Price Target to $12.00

Sunnova Energy International (NYSE:NOVA) had its price target lowered by research analysts at The Goldman Sachs Group from $14.00 to $12.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 185.04% from the company’s previous close.

Several other equities analysts also recently issued reports on NOVA. Evercore ISI cut their price target on shares of Sunnova Energy International from $29.00 to $26.00 and set an “outperform” rating for the company in a report on Friday, February 23rd. Janney Montgomery Scott upgraded shares of Sunnova Energy International from a “neutral” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Friday, March 22nd. Truist Financial reissued a “buy” rating and issued a $16.00 target price (down from $18.00) on shares of Sunnova Energy International in a report on Monday, February 26th. Northland Securities reaffirmed a “market perform” rating and set a $9.00 price target (down from $12.00) on shares of Sunnova Energy International in a report on Friday, February 23rd. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $14.00 price objective (down previously from $24.00) on shares of Sunnova Energy International in a research report on Monday, March 4th. Five equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Sunnova Energy International currently has an average rating of “Moderate Buy” and an average price target of $19.46.

Sunnova Energy International Trading Down 5.6 %

Shares of NOVA opened at $4.21 on Thursday. 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 stock has a market cap of $521.37 million, a PE ratio of -1.20 and a beta of 2.08. Sunnova Energy International has a 1 year low of $3.80 and a 1 year high of $24.56. The stock has a 50 day simple moving average of $7.03 and a 200-day simple moving average of $9.73.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings results on Wednesday, February 21st. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.04. The firm had revenue of $194.18 million for the quarter, compared to analysts’ expectations 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, sell-side analysts predict that Sunnova Energy International will post -2.28 EPS for the current fiscal year.

Insider Buying and Selling at Sunnova Energy International

In related news, Director Akbar Mohamed acquired 152,450 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was acquired at an average cost 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 in the company, valued at $1,634,081.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Sunnova Energy International 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 shares were sold at an average price of $6.21, for a total value of $80,692.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Akbar Mohamed bought 152,450 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was purchased at an average price of $6.92 per share, for a total transaction 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. In the last 90 days, insiders sold 23,580 shares of company stock worth $137,382. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Sunnova Energy International

Institutional investors and hedge funds have recently made changes to their positions in the company. Manchester Capital Management LLC grew its position in shares of Sunnova Energy International by 2,959.7% in the 4th quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock valued at $29,000 after purchasing an additional 1,835 shares during the period. Captrust Financial Advisors raised its holdings in Sunnova Energy International by 236.4% during the 1st quarter. Captrust Financial Advisors now owns 1,487 shares of the company’s stock worth $34,000 after buying an additional 1,045 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in Sunnova Energy International by 108.9% in the first quarter. Steward Partners Investment Advisory LLC now owns 2,302 shares of the company’s stock valued at $36,000 after buying an additional 1,200 shares in the last quarter. Quarry LP acquired a new position in shares of Sunnova Energy International in the first quarter valued at approximately $36,000. Finally, KBC Group NV acquired a new position in shares of Sunnova Energy International in the fourth quarter valued at approximately $51,000.

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.