Sunnova Energy International (NYSE:NOVA) Given New $6.00 Price Target at Morgan Stanley

Sunnova Energy International (NYSE:NOVA) had its target price decreased by equities researchers at Morgan Stanley from $12.00 to $6.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 49.25% from the stock’s previous close.

A number of other brokerages have also recently issued reports on NOVA. Citigroup reduced their price objective on Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. The Goldman Sachs Group upped their target price on shares of Sunnova Energy International from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group initiated coverage on shares of Sunnova Energy International in a report on Thursday, October 10th. They set a “buy” rating and a $15.00 price target on the stock. Susquehanna boosted their target price on Sunnova Energy International from $12.00 to $14.00 and gave the stock a “positive” rating in a research report on Friday, August 2nd. Finally, Guggenheim downgraded shares of Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.89.

Sunnova Energy International Trading Up 17.9 %

Shares of NOVA stock opened at $4.02 on Friday. Sunnova Energy International has a 1 year low of $2.99 and a 1 year high of $16.35. The company’s fifty day simple moving average is $7.47 and its two-hundred day simple moving average is $6.89. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $502.30 million, a price-to-earnings ratio of -1.20 and a beta of 2.26.

Sunnova Energy International (NYSE:NOVA) last posted its earnings results on Wednesday, October 30th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $238.23 million. During the same quarter in the previous year, the firm earned ($0.53) earnings per share. Sunnova Energy International’s quarterly revenue was up 18.6% compared to the same quarter last year. As a group, analysts anticipate that Sunnova Energy International will post -2.24 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider William J. Berger sold 77,000 shares of the business’s stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. International Assets Investment Management LLC boosted its stake in Sunnova Energy International by 37,400.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,000 shares of the company’s stock worth $308,000 after purchasing an additional 2,992 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Sunnova Energy International by 736.3% during the third quarter. GAMMA Investing LLC now owns 8,756 shares of the company’s stock worth $85,000 after purchasing an additional 7,709 shares during the last quarter. Peoples Bank KS acquired a new position in shares of Sunnova Energy International in the 2nd quarter valued at $56,000. Caxton Associates LP acquired a new position in Sunnova Energy International in the 1st quarter valued at about $62,000. Finally, Creative Planning purchased a new position in Sunnova Energy International during the 3rd quarter worth $107,000.

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.