Robert W. Baird Issues Pessimistic Forecast for Sunnova Energy International (NYSE:NOVA) Stock Price

Sunnova Energy International (NYSE:NOVA) had its target price reduced by Robert W. Baird from $12.00 to $9.00 in a report released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages also recently weighed in on NOVA. Deutsche Bank Aktiengesellschaft lowered their price target on Sunnova Energy International from $9.00 to $6.25 and set a “hold” rating for the company in a report on Friday, November 1st. Barclays lowered their target price on shares of Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Royal Bank of Canada downgraded shares of Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a research report on Monday, December 9th. The Goldman Sachs Group decreased their price target on shares of Sunnova Energy International from $12.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Guggenheim lowered shares of Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Sunnova Energy International presently has an average rating of “Hold” and an average target price of $10.24.

Sunnova Energy International Stock Down 6.1 %

NYSE:NOVA traded down $0.22 during midday trading on Wednesday, reaching $3.40. 5,563,522 shares of the stock traded hands, compared to its average volume of 8,449,218. The stock has a market capitalization of $424.83 million, a PE ratio of -1.01 and a beta of 2.22. Sunnova Energy International has a 12-month low of $2.99 and a 12-month high of $16.35. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86. The business has a 50-day moving average of $4.87 and a two-hundred day moving average of $6.92.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.45). The business 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 business’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.53) EPS. On average, equities analysts forecast that Sunnova Energy International will post -2.44 earnings per share for the current fiscal year.

Insider Transactions at Sunnova Energy International

In other Sunnova Energy International news, Director Akbar Mohamed acquired 50,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were bought at an average cost of $3.64 per share, with a total value of $182,000.00. Following the completion of the acquisition, the director now owns 352,654 shares in the company, valued at approximately $1,283,660.56. This trade represents a 16.52 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Eric Michael Williams acquired 13,800 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was acquired at an average price of $3.60 per share, with a total value of $49,680.00. Following the completion of the transaction, the chief financial officer now directly owns 13,800 shares of the company’s stock, valued at approximately $49,680. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 118,517 shares of company stock valued at $439,605 in the last 90 days. 4.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sunnova Energy International

A number of institutional investors have recently added to or reduced their stakes in the stock. DRW Securities LLC acquired a new position in Sunnova Energy International during the third quarter worth $989,000. Erste Asset Management GmbH acquired a new position in shares of Sunnova Energy International during the 3rd quarter worth about $76,550,000. Handelsbanken Fonder AB lifted its stake in Sunnova Energy International by 9.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock valued at $71,097,000 after buying an additional 611,452 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Sunnova Energy International by 190.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 744,686 shares of the company’s stock worth $7,253,000 after buying an additional 488,623 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in Sunnova Energy International by 23.4% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 357,781 shares of the company’s stock worth $1,996,000 after buying an additional 67,749 shares in 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.