Sunnova Energy International (NYSE:NOVA) Price Target Lowered to $4.50 at Piper Sandler

Sunnova Energy International (NYSE:NOVA) had its price target reduced by Piper Sandler from $8.00 to $4.50 in a research note released on Friday,Benzinga reports. They currently have a neutral rating on the stock.

NOVA has been the topic of a number of other reports. BMO Capital Markets reissued a “market perform” rating and set a $8.00 price target (down from $10.00) on shares of Sunnova Energy International in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Sunnova Energy International from $9.00 to $6.25 and set a “hold” rating on the stock in a report on Friday, November 1st. BNP Paribas downgraded Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 price objective for the company. in a report on Friday, November 8th. Citigroup cut their target price 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. Finally, Scotiabank upped their price target on Sunnova Energy International from $10.00 to $14.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Sunnova Energy International has a consensus rating of “Moderate Buy” and an average price target of $10.73.

Sunnova Energy International Trading Up 12.0 %

Shares of NYSE:NOVA opened at $4.90 on Friday. The firm has a 50 day simple moving average of $6.66 and a 200 day simple moving average of $6.88. Sunnova Energy International has a one year low of $2.99 and a one year high of $16.35. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86.

Sunnova Energy International (NYSE:NOVA) last announced 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). The firm had revenue of $235.30 million during the quarter, compared to the consensus estimate 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 firm’s revenue was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.53) earnings per share. As a group, research analysts anticipate that Sunnova Energy International will post -2.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other Sunnova Energy International news, Director Akbar Mohamed acquired 54,717 shares of the company’s stock in a transaction on Friday, November 15th. The shares were purchased at an average cost of $3.80 per share, with a total value of $207,924.60. Following the completion of the purchase, the director now owns 302,654 shares of the company’s stock, valued at approximately $1,150,085.20. This represents a 22.07 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Eric Michael Williams bought 13,800 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were acquired at an average cost of $3.60 per share, with a total value of $49,680.00. Following the completion of the transaction, the chief financial officer now owns 13,800 shares of the company’s stock, valued at $49,680. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 118,517 shares of company stock worth $439,605. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NOVA. Virtu Financial LLC purchased a new stake in Sunnova Energy International in the 3rd quarter valued at $433,000. Geode Capital Management LLC lifted its position in shares of Sunnova Energy International by 3.6% during the third quarter. Geode Capital Management LLC now owns 2,562,684 shares of the company’s stock valued at $24,965,000 after purchasing an additional 88,945 shares in the last quarter. Sylebra Capital LLC boosted its stake in shares of Sunnova Energy International by 125.6% in the 3rd quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock worth $121,195,000 after buying an additional 6,926,399 shares during the last quarter. XTX Topco Ltd bought a new position in Sunnova Energy International in the 3rd quarter valued at $875,000. Finally, Paloma Partners Management Co bought a new position in Sunnova Energy International in the 3rd quarter valued at $151,000.

Sunnova Energy International Company Profile

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.