Sunnova Energy International (NYSE:NOVA) Price Target Cut to $6.00 by Analysts at Morgan Stanley

Sunnova Energy International (NYSE:NOVA) had its target price reduced by Morgan Stanley from $12.00 to $6.00 in a research report released on Friday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

NOVA has been the topic of several other reports. BMO Capital Markets reaffirmed a “market perform” rating and set a $8.00 price objective (down from $10.00) on shares of Sunnova Energy International in a report on Friday, November 1st. Scotiabank upped their price target on shares of Sunnova Energy International from $10.00 to $14.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Sunnova Energy International from $9.00 to $6.25 and set a “hold” rating for the company in a research report on Friday, November 1st. Susquehanna boosted their target price on shares of Sunnova Energy International from $12.00 to $14.00 and gave the stock a “positive” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company increased their price target on shares of Sunnova Energy International from $6.00 to $9.00 and gave the company an “equal weight” rating in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.89.

Sunnova Energy International Price Performance

NOVA traded down $0.28 during trading on Friday, hitting $3.75. 17,035,230 shares of the company traded hands, compared to its average volume of 8,299,157. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26. The company has a market cap of $468.56 million, a PE ratio of -1.12 and a beta of 2.26. The stock’s 50-day simple moving average is $7.34 and its two-hundred day simple moving average is $6.88. Sunnova Energy International has a 1 year low of $2.99 and a 1 year high of $16.35.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.45). The firm had revenue of $235.30 million for the quarter, compared to analysts’ expectations of $238.23 million. Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.53) EPS. As a group, sell-side analysts anticipate that Sunnova Energy International will post -2.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Sunnova Energy International

In other Sunnova Energy International news, insider William J. Berger sold 77,000 shares of Sunnova Energy International stock in a transaction on Friday, August 23rd. The stock was 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 of the company’s stock, valued at $4,626,298.95. The trade was a 15.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.50% of the stock is owned by corporate insiders.

Institutional Trading of Sunnova Energy International

Institutional investors and hedge funds have recently made changes to their positions in the company. Peoples Bank KS purchased a new stake in shares of Sunnova Energy International in the 2nd quarter worth approximately $56,000. Caxton Associates LP purchased a new position in shares of Sunnova Energy International in the 1st quarter valued at $62,000. Presidio Capital Management LLC bought a new position in shares of Sunnova Energy International in the 2nd quarter worth $67,000. nVerses Capital LLC boosted its position in Sunnova Energy International by 237.8% during the second quarter. nVerses Capital LLC now owns 12,500 shares of the company’s stock valued at $70,000 after purchasing an additional 8,800 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new position in Sunnova Energy International in the second quarter valued at about $78,000.

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.