Sunnova Energy International (NYSE:NOVA) Downgraded by Wolfe Research to Hold

Wolfe Research lowered shares of Sunnova Energy International (NYSE:NOVA) from a strong-buy rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

Several other equities research analysts also recently issued reports on NOVA. Piper Sandler increased their price objective on shares of Sunnova Energy International from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Truist Financial increased their target price on Sunnova Energy International from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Wells Fargo & Company boosted their price target on Sunnova Energy International from $6.00 to $9.00 and gave the company an “equal weight” rating in a report on Tuesday, August 6th. Royal Bank of Canada increased their price objective on Sunnova Energy International from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Finally, The Goldman Sachs Group boosted their target price on Sunnova Energy International from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.23.

Sunnova Energy International Trading Down 15.3 %

Shares of NOVA traded down $0.56 during trading hours on Monday, reaching $3.09. The stock had a trading volume of 9,579,943 shares, compared to its average volume of 8,081,481. The company has a market cap of $386.10 million, a P/E ratio of -0.95 and a beta of 2.26. Sunnova Energy International has a 52 week low of $2.99 and a 52 week high of $16.35. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26. The firm has a 50-day moving average of $8.23 and a 200 day moving average of $6.90.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.45). Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The business had revenue of $235.30 million for the quarter, compared to analyst estimates of $238.23 million. During the same period in the prior year, the business earned ($0.53) EPS. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. On average, sell-side analysts expect that Sunnova Energy International will post -2.27 earnings per share for the current fiscal year.

Insider Activity at Sunnova Energy International

In other Sunnova Energy International news, insider William J. Berger sold 77,000 shares of the firm’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 completion of the sale, the insider now directly owns 409,045 shares in the company, valued at $4,626,298.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sunnova Energy International

A number of hedge funds and other institutional investors have recently modified their holdings of NOVA. International Assets Investment Management LLC increased its position in Sunnova Energy International by 37,400.0% during the third quarter. International Assets Investment Management LLC now owns 3,000 shares of the company’s stock worth $308,000 after acquiring an additional 2,992 shares during the period. GAMMA Investing LLC grew its holdings 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 purchasing an additional 7,709 shares in the last quarter. Peoples Bank KS acquired a new position in Sunnova Energy International in the second quarter valued at about $56,000. Caxton Associates LP bought a new stake in Sunnova Energy International during the first quarter worth about $62,000. Finally, First Trust Direct Indexing L.P. bought a new position in Sunnova Energy International in the 1st quarter valued at about $66,000.

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.