Sunnova Energy International (NYSE:NOVA) Cut to Hold at Jefferies Financial Group

Sunnova Energy International (NYSE:NOVA) was downgraded by equities research analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued on Friday,Briefing.com Automated Import reports. They currently have a $2.00 price objective on the stock, down from their prior price objective of $9.00. Jefferies Financial Group’s target price would indicate a potential downside of 18.53% from the company’s previous close.

A number of other research analysts have also recently commented on NOVA. Citigroup lowered their price target on Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Barclays reduced their price objective on Sunnova Energy International from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Wells Fargo & Company reduced their price objective on Sunnova Energy International from $8.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Royal Bank of Canada downgraded Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a research report on Monday, December 9th. Finally, TD Cowen assumed coverage on Sunnova Energy International in a research report on Thursday, December 19th. They set a “hold” rating and a $5.00 target price on the stock. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $9.03.

Sunnova Energy International Stock Up 1.9 %

NYSE NOVA opened at $2.46 on Friday. The stock’s 50 day moving average is $3.65 and its 200 day moving average is $6.27. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26. Sunnova Energy International has a 12 month low of $2.30 and a 12 month high of $13.00. The stock has a market cap of $306.75 million, a PE ratio of -0.73 and a beta of 2.28.

Insiders Place Their Bets

In other news, Director Akbar Mohamed bought 54,717 shares of the stock in a transaction on Friday, November 15th. The stock was acquired at an average cost of $3.80 per share, for a total transaction of $207,924.60. Following the acquisition, the director now owns 302,654 shares of the company’s stock, valued at $1,150,085.20. This represents a 22.07 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Eric Michael Williams bought 13,800 shares of the stock in a transaction 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 completion of the acquisition, the chief financial officer now directly owns 13,800 shares in the company, valued at approximately $49,680. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 118,517 shares of company stock worth $439,605. 4.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sunnova Energy International

A number of hedge funds have recently made changes to their positions in the stock. Sylebra Capital LLC lifted its stake in shares of Sunnova Energy International by 125.6% during the 3rd quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock worth $121,195,000 after purchasing an additional 6,926,399 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Sunnova Energy International during the 3rd quarter worth $76,550,000. Geode Capital Management LLC lifted its stake in shares of Sunnova Energy International by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,562,684 shares of the company’s stock worth $24,965,000 after purchasing an additional 88,945 shares during the last quarter. Teilinger Capital Ltd. purchased a new stake in shares of Sunnova Energy International during the 4th quarter worth $3,588,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Sunnova Energy International by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 908,997 shares of the company’s stock worth $3,118,000 after purchasing an additional 7,564 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.