Morgan Stanley Lowers Sunnova Energy International (NYSE:NOVA) Price Target to $6.00

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

A number of other equities analysts have also weighed in on the company. Jefferies Financial Group assumed coverage on Sunnova Energy International in a research note on Thursday, October 10th. They set a “buy” rating and a $15.00 price objective for the company. BMO Capital Markets reissued a “market perform” rating and issued a $8.00 price target (down from $10.00) on shares of Sunnova Energy International in a report on Friday, November 1st. Citigroup lowered their price objective on Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Piper Sandler lifted their target price on shares of Sunnova Energy International from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Monday, August 12th. 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 issued a buy rating to the company. Based on data from MarketBeat, Sunnova Energy International presently has an average rating of “Moderate Buy” and a consensus price target of $10.89.

Sunnova Energy International Trading Down 2.3 %

Shares of NYSE:NOVA opened at $3.67 on Friday. The business has a 50-day moving average price of $7.20 and a 200-day moving average price of $6.92. The stock has a market cap of $457.94 million, a price-to-earnings ratio of -1.09 and a beta of 2.26. Sunnova Energy International has a 52-week low of $2.99 and a 52-week high of $16.35. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26.

Sunnova Energy International (NYSE:NOVA) last announced 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 analyst estimates 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 was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.53) earnings per share. Equities analysts predict that Sunnova Energy International will post -2.24 EPS for the current year.

Insiders Place Their Bets

In other Sunnova Energy International news, insider William J. Berger sold 77,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $11.31, for a total value 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. This trade represents a 15.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Sunnova Energy International

Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Sunnova Energy International by 56.7% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 14,142,487 shares of the company’s stock worth $78,915,000 after buying an additional 5,118,552 shares during the last quarter. Sylebra Capital LLC grew its position in Sunnova Energy International by 125.6% in the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock worth $121,195,000 after acquiring an additional 6,926,399 shares during the period. Vanguard Group Inc. increased its stake in Sunnova Energy International by 0.8% during the first quarter. Vanguard Group Inc. now owns 10,568,045 shares of the company’s stock worth $64,782,000 after acquiring an additional 81,653 shares during the last quarter. Erste Asset Management GmbH acquired a new position in shares of Sunnova Energy International in the 3rd quarter valued at $76,550,000. Finally, Handelsbanken Fonder AB lifted its stake in shares of 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 purchasing an additional 611,452 shares during 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.