By otakuyassine3@gmail.com 
Sunnova Energy International (NYSE:NOVA – Free Report) had its price target reduced by Robert W. Baird from $12.00 to $9.00 in a research report report published on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.
Several other equities analysts also recently commented on the stock. Piper Sandler lowered their target price on shares of Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating on the stock in a report on Friday, November 22nd. The Goldman Sachs Group reduced their price target on shares of Sunnova Energy International from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday. Barclays dropped their price objective on shares of Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Guggenheim cut Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Finally, Citigroup dropped their price target on Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Sunnova Energy International presently has a consensus rating of “Hold” and an average price target of $10.24.
Read Our Latest Report on NOVA
Sunnova Energy International Price Performance
NYSE:NOVA traded down $0.22 on Wednesday, reaching $3.40. 5,563,522 shares of the company’s stock traded hands, compared to its average volume of 8,449,218. The stock has a 50-day simple moving average of $4.87 and a 200-day simple moving average of $6.92. Sunnova Energy International has a 12 month low of $2.99 and a 12 month high of $16.35. The firm has a market cap of $424.83 million, a PE ratio of -1.01 and a beta of 2.22. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26.
Sunnova Energy International (NYSE:NOVA – Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.45). Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The business had revenue of $235.30 million for the quarter, compared to the consensus estimate of $238.23 million. During the same period last year, the business posted ($0.53) EPS. The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year. Equities research analysts forecast that Sunnova Energy International will post -2.44 earnings per share for the current year.
Insider Activity
In related news, Director Akbar Mohamed purchased 54,717 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was purchased at an average price of $3.80 per share, with a total value of $207,924.60. Following the completion of the purchase, the director now owns 302,654 shares of the company’s stock, valued at approximately $1,150,085.20. The trade was a 22.07 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Eric Michael Williams purchased 13,800 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average price of $3.60 per share, with a total value of $49,680.00. Following the acquisition, the chief financial officer now directly owns 13,800 shares of the company’s stock, valued at $49,680. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 118,517 shares of company stock valued at $439,605. 4.50% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Sunnova Energy International
Several institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC lifted its position in shares of Sunnova Energy International by 55.8% in the 2nd quarter. SG Americas Securities LLC now owns 54,783 shares of the company’s stock worth $306,000 after purchasing an additional 19,615 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Sunnova Energy International by 87,558.3% during the second quarter. Nisa Investment Advisors LLC now owns 105,190 shares of the company’s stock worth $587,000 after buying an additional 105,070 shares during the period. Bank of New York Mellon Corp boosted its position in Sunnova Energy International by 13.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 394,812 shares of the company’s stock valued at $2,203,000 after acquiring an additional 48,119 shares in the last quarter. Presidio Capital Management LLC purchased a new position in shares of Sunnova Energy International in the 2nd quarter valued at $67,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of Sunnova Energy International by 136.6% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 237,203 shares of the company’s stock worth $1,324,000 after acquiring an additional 136,968 shares in the last quarter.
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.
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