Weekly Investment Analysts’ Ratings Updates for Sunnova Energy International (NOVA)

A number of firms have modified their ratings and price targets on shares of Sunnova Energy International (NYSE: NOVA) recently:

• 5/21/2024 – Sunnova Energy International was downgraded by analysts at Piper Sandler from an “overweight” rating to a “neutral” rating. They now have a $4.50 price target on the stock, down previously from $9.00.
• 5/3/2024 – Sunnova Energy International had its price target lowered by analysts at Evercore ISI from $26.00 to $17.00. They now have an “outperform” rating on the stock.
• 5/3/2024 – Sunnova Energy International had its price target lowered by analysts at Robert W. Baird from $14.00 to $12.00. They now have an “outperform” rating on the stock.
• 5/3/2024 – Sunnova Energy International had its price target lowered by analysts at BMO Capital Markets from $10.00 to $6.00. They now have a “market perform” rating on the stock.
• 4/30/2024 – Sunnova Energy International had its price target lowered by analysts at Truist Financial Co. from $16.00 to $9.00. They now have a “buy” rating on the stock.
• 4/29/2024 – Sunnova Energy International had its price target lowered by analysts at Scotiabank from $20.00 to $10.00. They now have a “sector outperform” rating on the stock.
• 4/23/2024 – Sunnova Energy International was downgraded by analysts at KeyCorp from an “overweight” rating to a “sector weight” rating.
• 4/22/2024 – Sunnova Energy International had its price target lowered by analysts at B. Riley from $21.00 to $15.00. They now have a “buy” rating on the stock.
• 4/19/2024 – Sunnova Energy International had its “equal weight” rating reaffirmed by analysts at Wells Fargo & Company. They now have a $6.00 price target on the stock, down previously from $11.00.
• 4/19/2024 – Sunnova Energy International had its price target lowered by analysts at Mizuho from $21.00 to $17.00. They now have a “buy” rating on the stock.
• 4/11/2024 – Sunnova Energy International had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $14.00 to $12.00. They now have a “buy” rating on the stock.
• 4/5/2024 – Sunnova Energy International had its price target lowered by analysts at Susquehanna from $20.00 to $12.00. They now have a “positive” rating on the stock.

Sunnova Energy International Stock Performance

NOVA opened at $4.36 on Thursday. 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 firm has a fifty day moving average price of $4.59 and a 200 day moving average price of $8.67. The stock has a market cap of $539.93 million, a P/E ratio of -1.29 and a beta of 2.15. Sunnova Energy International Inc. has a 1 year low of $3.37 and a 1 year high of $24.56.

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

Insider Activity

In other news, Director Akbar Mohamed acquired 152,450 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Sunnova Energy International news, insider Paul S. Mathews sold 9,500 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $5.31, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Akbar Mohamed bought 152,450 shares of the stock in a transaction on Wednesday, February 28th. The shares were bought 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 $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 three months. Insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NOVA. Swedbank AB purchased a new position in shares of Sunnova Energy International in the first quarter valued at approximately $2,086,000. Yaupon Capital Management LP boosted its stake in shares of Sunnova Energy International by 7.4% in the first quarter. Yaupon Capital Management LP now owns 299,392 shares of the company’s stock valued at $1,835,000 after purchasing an additional 20,725 shares during the period. Tidal Investments LLC purchased a new position in shares of Sunnova Energy International in the first quarter valued at approximately $291,000. Caxton Associates LP purchased a new position in shares of Sunnova Energy International in the first quarter valued at approximately $62,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Sunnova Energy International by 18.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 74,332 shares of the company’s stock valued at $456,000 after purchasing an additional 11,361 shares during the period.

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.