Sunnova Energy International (NYSE:NOVA) PT Lowered to $6.00

Sunnova Energy International (NYSE:NOVA) had its target price decreased by BMO Capital Markets from $10.00 to $6.00 in a research note issued to investors on Friday, Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

A number of other research analysts have also issued reports on the company. Wells Fargo & Company reaffirmed an equal weight rating and set a $6.00 target price (down from $11.00) on shares of Sunnova Energy International in a report on Friday, April 19th. Susquehanna lowered their price objective on shares of Sunnova Energy International from $20.00 to $12.00 and set a positive rating on the stock in a research note on Friday, April 5th. Evercore ISI cut their target price on shares of Sunnova Energy International from $26.00 to $17.00 and set an outperform rating for the company in a research note on Friday. Scotiabank reduced their target price on shares of Sunnova Energy International from $20.00 to $10.00 and set a sector outperform rating for the company in a report on Monday, April 29th. Finally, Robert W. Baird dropped their price target on Sunnova Energy International from $14.00 to $12.00 and set an outperform rating on the stock in a report on Friday. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Sunnova Energy International currently has an average rating of Moderate Buy and an average target price of $16.71.

Sunnova Energy International Price Performance

Shares of Sunnova Energy International stock traded down $0.12 on Friday, hitting $4.67. The company had a trading volume of 6,384,788 shares, compared to its average volume of 9,362,332. Sunnova Energy International has a 52 week low of $3.37 and a 52 week high of $24.56. 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 company has a market cap of $578.99 million, a PE ratio of -1.42 and a beta of 2.15. The business has a 50-day simple moving average of $5.05 and a 200-day simple moving average of $9.09.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.57) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.22. Sunnova Energy International had a negative return on equity of 12.10% and a negative net margin of 56.52%. The firm had revenue of $160.90 million during the quarter, compared to analyst estimates of $193.78 million. During the same period last year, the company posted ($0.70) EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. Research analysts expect that Sunnova Energy International will post -2.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other Sunnova Energy International news, 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 transaction, the insider now directly owns 14,007 shares of the company’s stock, valued at approximately $74,377.17. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Sunnova Energy International news, insider Jack O. Lynch III sold 12,994 shares of the business’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 sale, the insider now owns 14,007 shares of the company’s stock, valued at approximately $74,377.17. The disclosure for this sale can be found here. Insiders sold a total of 23,580 shares of company stock worth $137,382 in the last quarter. 4.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Manchester Capital Management LLC boosted its position in shares of Sunnova Energy International by 2,959.7% in the fourth quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock valued at $29,000 after acquiring an additional 1,835 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Sunnova Energy International during the 1st quarter valued at $25,000. Allspring Global Investments Holdings LLC raised its position in shares of 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 during the last quarter. Headlands Technologies LLC acquired a new position in shares of Sunnova Energy International during the fourth quarter valued at about $157,000. Finally, Ballentine Partners LLC bought a new stake in shares of Sunnova Energy International in the fourth quarter valued at about $161,000.

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.