Sunnova Energy International (NYSE:NOVA) Rating Lowered to Neutral at Piper Sandler

Sunnova Energy International (NYSE:NOVA) was downgraded by Piper Sandler from an “overweight” rating to a “neutral” rating in a note issued to investors on Tuesday, Marketbeat reports. They presently have a $4.50 price target on the stock, down from their prior price target of $9.00. Piper Sandler’s price objective indicates a potential upside of 8.70% from the company’s previous close.

NOVA has been the subject of several other reports. KeyCorp downgraded Sunnova Energy International from an “overweight” rating to a “sector weight” rating in a report on Tuesday, April 23rd. Scotiabank cut their target price on Sunnova Energy International from $20.00 to $10.00 and set a “sector outperform” rating for the company in a research note on Monday, April 29th. Janney Montgomery Scott raised 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. Morgan Stanley reissued an “equal weight” rating and set a $14.00 target price (down from $24.00) on shares of Sunnova Energy International in a research note on Monday, March 4th. Finally, BMO Capital Markets cut their target price on Sunnova Energy International from $10.00 to $6.00 and set a “market perform” rating for the company in a research note on Friday, May 3rd. Eight research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Sunnova Energy International has a consensus rating of “Moderate Buy” and an average price target of $15.88.

Sunnova Energy International Trading Down 1.4 %

NOVA opened at $4.14 on Tuesday. Sunnova Energy International has a 12 month low of $3.37 and a 12 month high of $24.56. The stock has a market capitalization of $513.28 million, a price-to-earnings ratio of -1.23 and a beta of 2.15. The company has a debt-to-equity ratio of 3.41, a current ratio of 0.74 and a quick ratio of 0.74. The business has a fifty day moving average price of $4.61 and a 200 day moving average price of $8.75.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.79) by $0.22. The business had revenue of $160.90 million during the quarter, compared to analysts’ expectations of $193.78 million. Sunnova Energy International had a negative return on equity of 12.10% and a negative net margin of 56.52%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.70) EPS. Sell-side analysts expect that Sunnova Energy International will post -1.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Sunnova Energy International

In other Sunnova Energy International news, insider Jack O. Lynch III sold 12,994 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $6.21, for a total value of $80,692.74. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Jack O. Lynch III sold 12,994 shares of the firm’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul S. Mathews sold 9,500 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $5.31, for a total value of $50,445.00. Following the sale, the insider now owns 14,007 shares of the company’s stock, valued at $74,377.17. The disclosure for this sale can be found here. Insiders have sold 23,580 shares of company stock valued at $137,382 over the last three months. 4.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sunnova Energy International

A number of hedge funds have recently bought and sold shares of NOVA. Electron Capital Partners LLC grew its stake in Sunnova Energy International by 42.9% in the third quarter. Electron Capital Partners LLC now owns 5,308,684 shares of the company’s stock worth $55,582,000 after purchasing an additional 1,593,098 shares in the last quarter. Van ECK Associates Corp boosted its stake 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 period. Banque Pictet & Cie SA acquired a new position in Sunnova Energy International in the third quarter valued at approximately $6,906,000. Westwood Holdings Group Inc. boosted its stake in Sunnova Energy International by 3,168.8% in the first quarter. Westwood Holdings Group Inc. now owns 574,127 shares of the company’s stock valued at $3,519,000 after acquiring an additional 556,563 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Sunnova Energy International by 57.6% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,324,957 shares of the company’s stock valued at $13,872,000 after acquiring an additional 484,150 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.