Sunnova Energy International (NYSE:NOVA) Earns “Equal Weight” Rating from Wells Fargo & Company

Sunnova Energy International (NYSE:NOVA)‘s stock had its “equal weight” rating reaffirmed by stock analysts at Wells Fargo & Company in a report issued on Friday, MarketBeat.com reports. They currently have a $6.00 price target on the stock, down from their prior price target of $11.00. Wells Fargo & Company‘s price objective suggests a potential upside of 58.73% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. The Goldman Sachs Group decreased their price objective on shares of Sunnova Energy International from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, April 11th. Truist Financial reiterated a “buy” rating and set a $16.00 price target (down previously from $18.00) on shares of Sunnova Energy International in a research report on Monday, February 26th. Susquehanna reduced their price target on shares of Sunnova Energy International from $20.00 to $12.00 and set a “positive” rating on the stock in a research report on Friday, April 5th. Morgan Stanley reiterated an “equal weight” rating and set a $14.00 price target (down previously from $24.00) on shares of Sunnova Energy International in a research report on Monday, March 4th. Finally, Mizuho reduced their price target on shares of Sunnova Energy International from $25.00 to $21.00 and set a “buy” rating on the stock in a research report on Tuesday, February 27th. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sunnova Energy International currently has an average rating of “Moderate Buy” and an average price target of $18.90.

Sunnova Energy International Stock Performance

Sunnova Energy International stock opened at $3.78 on Friday. The firm has a fifty day simple moving average of $6.56 and a two-hundred day simple moving average of $9.55. Sunnova Energy International has a twelve month low of $3.74 and a twelve month high of $24.56. The company has a market capitalization of $468.12 million, a PE ratio of -1.08 and a beta of 2.08. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.58.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings data on Wednesday, February 21st. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.04. Sunnova Energy International had a negative net margin of 58.00% and a negative return on equity of 13.26%. The firm had revenue of $194.18 million for the quarter, compared to analysts’ expectations of $226.09 million. Research analysts expect that Sunnova Energy International will post -2.28 EPS for the current year.

Insider Activity at Sunnova Energy International

In other Sunnova Energy International news, Director Akbar Mohamed bought 152,450 shares of Sunnova Energy International stock in a transaction on Wednesday, February 28th. The stock was acquired at an average cost of $6.92 per share, with a total value of $1,054,954.00. Following the completion of the acquisition, the director now owns 236,139 shares in the company, valued at $1,634,081.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Akbar Mohamed acquired 152,450 shares of Sunnova Energy International stock in a transaction dated Wednesday, February 28th. The stock was purchased at an average cost of $6.92 per share, with a total value of $1,054,954.00. Following the completion of the purchase, the director now directly owns 236,139 shares in the company, valued at approximately $1,634,081.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul S. Mathews sold 9,500 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $5.31, for a total transaction of $50,445.00. Following the completion of the sale, the insider now directly owns 14,007 shares of the company’s stock, valued at $74,377.17. The disclosure for this sale can be found here. Insiders have sold a total of 23,580 shares of company stock worth $137,382 over the last quarter. Company insiders own 4.50% of the company’s stock.

Institutional Trading of Sunnova Energy International

Hedge funds and other institutional investors have recently modified their holdings of the company. Ballentine Partners LLC purchased a new position in Sunnova Energy International during the fourth quarter valued at $161,000. Vanguard Group Inc. lifted its position in Sunnova Energy International by 3.8% during the third quarter. Vanguard Group Inc. now owns 10,270,487 shares of the company’s stock valued at $107,532,000 after purchasing an additional 379,032 shares during the last quarter. Dark Forest Capital Management LP bought a new position in Sunnova Energy International during the third quarter valued at $593,000. Money Concepts Capital Corp lifted its holdings in shares of Sunnova Energy International by 20.3% in the 3rd quarter. Money Concepts Capital Corp now owns 634,117 shares of the company’s stock worth $6,639,000 after acquiring an additional 106,819 shares during the last quarter. Finally, Quantbot Technologies LP lifted its holdings in shares of Sunnova Energy International by 21.8% in the 3rd quarter. Quantbot Technologies LP now owns 188,150 shares of the company’s stock worth $1,970,000 after acquiring an additional 33,629 shares during the last quarter.

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.