Sunnova Energy International (NYSE:NOVA) Stock Price Down 5.6%

Sunnova Energy International Inc. (NYSE:NOVAGet Free Report)’s stock price was down 5.6% during mid-day trading on Tuesday . The company traded as low as $11.12 and last traded at $11.20. Approximately 851,382 shares changed hands during trading, a decline of 77% from the average daily volume of 3,742,194 shares. The stock had previously closed at $11.87.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NOVA shares. The Goldman Sachs Group upgraded Sunnova Energy International from a “neutral” rating to a “buy” rating and set a $17.00 target price for the company in a report on Monday, December 18th. JPMorgan Chase & Co. decreased their target price on Sunnova Energy International from $29.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, October 19th. KeyCorp decreased their price target on Sunnova Energy International from $31.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday, October 5th. Guggenheim decreased their price target on Sunnova Energy International from $30.00 to $17.00 in a report on Wednesday, September 27th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $12.50 price target (down previously from $23.00) on shares of Sunnova Energy International in a report on Friday, October 20th. Four analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $23.27.

View Our Latest Analysis on Sunnova Energy International

Sunnova Energy International Trading Down 3.8 %

The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 3.23. The company has a 50-day simple moving average of $12.32 and a two-hundred day simple moving average of $13.28.

Sunnova Energy International (NYSE:NOVAGet Free Report) last issued its earnings results on Wednesday, October 25th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.19). Sunnova Energy International had a negative return on equity of 14.83% and a negative net margin of 34.79%. The company had revenue of $198.40 million during the quarter, compared to analyst estimates of $197.21 million. Sell-side analysts anticipate that Sunnova Energy International Inc. will post -2.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Captrust Financial Advisors increased its holdings in shares of Sunnova Energy International by 236.4% during the first quarter. Captrust Financial Advisors now owns 1,487 shares of the company’s stock valued at $34,000 after purchasing an additional 1,045 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in shares of Sunnova Energy International by 108.9% during the first quarter. Steward Partners Investment Advisory LLC now owns 2,302 shares of the company’s stock valued at $36,000 after purchasing an additional 1,200 shares during the period. Quarry LP acquired a new position in shares of Sunnova Energy International during the first quarter valued at $36,000. Register Financial Advisors LLC acquired a new position in shares of Sunnova Energy International during the second quarter valued at $37,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Sunnova Energy International by 34.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,726 shares of the company’s stock valued at $50,000 after purchasing an additional 700 shares during the period.

About Sunnova Energy International

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Sunnova Energy International Inc provides 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 diagnostics services. As of December 31, 2022, it operated a fleet of residential solar energy systems with a generation capacity of approximately 1,627 megawatts serving over 279,000 customers.

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