KeyCorp Trims Sunnova Energy International (NYSE:NOVA) Target Price to $39.00

Sunnova Energy International (NYSE:NOVA) had its price objective cut by KeyCorp from $50.00 to $39.00 in a research report report published on Thursday morning, The Fly reports. They currently have an overweight rating on the stock.

A number of other research analysts have also weighed in on the company. BMO Capital Markets began coverage on Sunnova Energy International in a report on Thursday, September 30th. They set an outperform rating and a $50.00 price objective on the stock. Zacks Investment Research lowered Sunnova Energy International from a hold rating to a sell rating in a report on Wednesday. B. Riley upped their price objective on Sunnova Energy International from $52.00 to $54.00 and gave the stock a buy rating in a report on Friday, October 29th. Truist started coverage on Sunnova Energy International in a research report on Friday, October 15th. They set a buy rating and a $50.00 target price on the stock. Finally, Royal Bank of Canada decreased their target price on Sunnova Energy International from $61.00 to $58.00 and set an outperform rating on the stock in a research report on Thursday, December 2nd. One research analyst has rated the stock with a sell rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Buy and an average target price of $51.71.

Shares of NYSE:NOVA traded down $0.61 during trading on Thursday, reaching $23.44. The company had a trading volume of 26,447 shares, compared to its average volume of 2,993,196. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of -11.51 and a beta of 2.06. The company has a debt-to-equity ratio of 2.17, a current ratio of 2.73 and a quick ratio of 2.73. The stock’s fifty day moving average price is $32.61 and its 200 day moving average price is $34.73. Sunnova Energy International has a fifty-two week low of $22.07 and a fifty-two week high of $55.55.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings data on Wednesday, October 27th. The company reported ($0.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.09). Sunnova Energy International had a negative return on equity of 8.58% and a negative net margin of 100.43%. The business had revenue of $68.90 million for the quarter, compared to analyst estimates of $67.31 million. During the same period in the prior year, the company earned ($0.15) EPS. On average, equities analysts anticipate that Sunnova Energy International will post -1.29 EPS for the current fiscal year.

In other Sunnova Energy International news, Director Akbar Mohamed bought 20,000 shares of Sunnova Energy International stock in a transaction that occurred on Tuesday, December 28th. The shares were purchased at an average cost of $26.13 per share, for a total transaction of $522,600.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kelsey Hultberg sold 910 shares of the stock in a transaction dated Thursday, November 11th. The stock was sold at an average price of $44.20, for a total value of $40,222.00. The disclosure for this sale can be found here. Insiders sold 6,062,778 shares of company stock worth $250,350,655 over the last 90 days. Company insiders own 4.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CoreFirst Bank & Trust lifted its position in Sunnova Energy International by 30.1% during the second quarter. CoreFirst Bank & Trust now owns 1,730 shares of the company’s stock worth $65,000 after buying an additional 400 shares during the period. First Republic Investment Management Inc. lifted its position in Sunnova Energy International by 5.4% during the third quarter. First Republic Investment Management Inc. now owns 7,785 shares of the company’s stock worth $256,000 after buying an additional 402 shares during the period. US Bancorp DE increased its stake in Sunnova Energy International by 37.5% during the third quarter. US Bancorp DE now owns 1,522 shares of the company’s stock worth $50,000 after acquiring an additional 415 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its stake in Sunnova Energy International by 1.4% during the third quarter. Dynamic Technology Lab Private Ltd now owns 30,480 shares of the company’s stock worth $1,004,000 after acquiring an additional 420 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in Sunnova Energy International by 21.0% during the third quarter. Exchange Traded Concepts LLC now owns 2,428 shares of the company’s stock worth $80,000 after acquiring an additional 422 shares during the last quarter.

About Sunnova Energy International

Sunnova Energy International, Inc engages in providing solar and energy storage services. It also offers services to customers who purchased their solar energy system through unaffiliated third parties. The company was founded by William J. (John) Berger on October 22, 2012 and is headquartered in Houston, TX.

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