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

Sunnova Energy International (NYSE:NOVA) had its price target reduced by analysts at Truist Financial from $16.00 to $9.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 154.96% from the company’s current price.

Several other research analysts have also commented on NOVA. Susquehanna reduced their price target 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. Morgan Stanley reissued an “equal weight” rating and issued a $14.00 price target (down from $24.00) on shares of Sunnova Energy International in a research report on Monday, March 4th. Mizuho reduced their price target on Sunnova Energy International from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Northland Securities reaffirmed a “market perform” rating and set a $9.00 target price (down from $12.00) on shares of Sunnova Energy International in a research report on Friday, February 23rd. Finally, Evercore ISI reduced 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. Seven research 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.86.

Sunnova Energy International Trading Down 16.2 %

Shares of NYSE NOVA opened at $3.53 on Tuesday. 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 has a fifty day simple moving average of $5.19 and a two-hundred day simple moving average of $9.19. The firm has a market cap of $437.16 million, a PE ratio of -1.01 and a beta of 2.08. 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 released 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 firm had revenue of $194.18 million during the quarter, compared to analyst estimates of $226.09 million. Sunnova Energy International had a negative return on equity of 13.26% and a negative net margin of 58.00%. Analysts expect that Sunnova Energy International will post -2.37 earnings per share for the current fiscal year.

Insider Transactions at Sunnova Energy International

In related news, Director Akbar Mohamed bought 152,450 shares of the stock in a transaction dated Wednesday, February 28th. The shares were purchased at an average price of $6.92 per share, for a total transaction 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 $1,634,081.88. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Akbar Mohamed bought 152,450 shares of the stock in a transaction dated Wednesday, February 28th. The shares were purchased at an average price of $6.92 per share, for a total transaction 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 $1,634,081.88. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Paul S. Mathews sold 9,500 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $74,377.17. The disclosure for this sale can be found here. Insiders have sold 23,580 shares of company stock worth $137,382 over the last quarter. 4.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sunnova Energy International

A number of hedge funds have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Sunnova Energy International by 2.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 45,491 shares of the company’s stock worth $663,000 after purchasing an additional 1,094 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Sunnova Energy International by 3.6% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 44,397 shares of the company’s stock worth $465,000 after purchasing an additional 1,528 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in Sunnova Energy International by 8.0% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 20,898 shares of the company’s stock worth $325,000 after purchasing an additional 1,554 shares in the last quarter. Principal Financial Group Inc. boosted its position in Sunnova Energy International by 14.0% during the third quarter. Principal Financial Group Inc. now owns 12,893 shares of the company’s stock worth $135,000 after purchasing an additional 1,584 shares in the last quarter. Finally, Manchester Capital Management LLC boosted its position 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 worth $29,000 after purchasing an additional 1,835 shares in the last quarter.

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.