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

Sunnova Energy International (NYSE:NOVA) had its target price cut by equities researchers at B. Riley from $21.00 to $15.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley’s target price would suggest a potential upside of 282.17% from the company’s previous close.

A number of other brokerages have also issued reports on NOVA. Mizuho cut their target price on Sunnova Energy International from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $6.00 target price (down from $11.00) on shares of Sunnova Energy International in a research report on Friday, April 19th. Evercore ISI cut 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. Susquehanna cut their target price on Sunnova Energy International from $20.00 to $12.00 and set a “positive” rating on the stock in a research report on Friday, April 5th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $14.00 target price (down from $24.00) on shares of Sunnova Energy International in a research report on Monday, March 4th. Seven equities 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.48.

Sunnova Energy International Stock Up 2.7 %

NYSE NOVA opened at $3.93 on Monday. The stock has a market cap of $486.07 million, a PE ratio of -1.12 and a beta of 2.08. Sunnova Energy International has a fifty-two week low of $3.52 and a fifty-two week high of $24.56. The business has a 50 day moving average price of $6.10 and a two-hundred day moving average price of $9.44. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.58.

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

Insiders Place Their Bets

In related news, Director Akbar Mohamed bought 152,450 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were purchased at an average cost of $6.92 per share, with a total value of $1,054,954.00. Following the completion of the transaction, the director now directly owns 236,139 shares of the company’s stock, valued at $1,634,081.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Paul S. Mathews sold 9,500 shares of the 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 transaction, the insider now 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. Also, Director Akbar Mohamed purchased 152,450 shares of the firm’s stock in a transaction dated 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 purchase, 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 have sold 23,580 shares of company stock valued at $137,382 over the last three months. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Sunnova Energy International during the first quarter valued at about $25,000. Manchester Capital Management LLC boosted its stake in 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 valued at $29,000 after buying an additional 1,835 shares in the last quarter. First Trust Direct Indexing L.P. bought a new position in Sunnova Energy International during the first quarter valued at about $66,000. Allspring Global Investments Holdings LLC boosted its stake 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 buying an additional 4,310 shares in the last quarter. Finally, NewEdge Wealth LLC bought a new position in Sunnova Energy International during the third quarter valued at about $125,000.

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.