Sunnova Energy International (NYSE:NOVA) Price Target Cut to $10.00

Sunnova Energy International (NYSE:NOVA) had its price objective reduced by Barclays from $12.00 to $10.00 in a research report released on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

NOVA has been the subject of a number of other research reports. Truist Financial upped their price objective on shares of Sunnova Energy International from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, July 29th. The Goldman Sachs Group raised their price objective on Sunnova Energy International from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. BMO Capital Markets boosted their price objective on Sunnova Energy International from $9.00 to $10.00 and gave the company a “market perform” rating in a research report on Monday, October 14th. Royal Bank of Canada raised their target price on Sunnova Energy International from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Finally, Wells Fargo & Company lifted their price target on shares of Sunnova Energy International from $6.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 6th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.33.

Sunnova Energy International Stock Performance

NOVA opened at $5.74 on Wednesday. Sunnova Energy International has a 12-month low of $3.37 and a 12-month high of $16.35. The firm has a market capitalization of $711.66 million, a P/E ratio of -1.70 and a beta of 2.21. The stock’s 50 day moving average price is $9.41 and its two-hundred day moving average price is $6.84. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 3.11.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.27. The business had revenue of $219.60 million for the quarter, compared to the consensus estimate of $220.38 million. Sunnova Energy International had a negative net margin of 45.76% and a negative return on equity of 8.85%. Sunnova Energy International’s quarterly revenue was up 32.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.74) earnings per share. On average, equities analysts forecast that Sunnova Energy International will post -1.86 earnings per share for the current year.

Insider Activity at Sunnova Energy International

In other news, insider William J. Berger sold 77,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $11.31, for a total transaction of $870,870.00. Following the transaction, the insider now directly owns 409,045 shares in the company, valued at approximately $4,626,298.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sunnova Energy International

A number of institutional investors and hedge funds have recently made changes to their positions in NOVA. Friedenthal Financial bought a new position in Sunnova Energy International in the third quarter valued at about $720,000. Creative Planning bought a new position in shares of Sunnova Energy International in the 3rd quarter valued at about $107,000. Diversified Trust Co acquired a new stake in shares of Sunnova Energy International during the 3rd quarter worth approximately $203,000. GAMMA Investing LLC grew its position in shares of Sunnova Energy International by 736.3% during the 3rd quarter. GAMMA Investing LLC now owns 8,756 shares of the company’s stock worth $85,000 after buying an additional 7,709 shares during the period. Finally, Handelsbanken Fonder AB raised its stake in shares of Sunnova Energy International by 9.1% during the third quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock worth $71,097,000 after buying an additional 611,452 shares during 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.