Sunnova Energy International (NYSE:NOVA) PT Lowered to $17.00

Sunnova Energy International (NYSE:NOVA) had its price objective cut by Mizuho from $21.00 to $17.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts also recently commented on NOVA. Janney Montgomery Scott raised Sunnova Energy International from a neutral rating to a buy rating and set a $12.00 target price on the stock in a report on Friday, March 22nd. Northland Securities reaffirmed a market perform rating and set a $9.00 price objective (down previously from $12.00) on shares of Sunnova Energy International in a report on Friday, February 23rd. Truist Financial reaffirmed a buy rating and set a $16.00 price objective (down previously from $18.00) on shares of Sunnova Energy International in a report on Monday, February 26th. Evercore ISI reduced their price objective on Sunnova Energy International from $29.00 to $26.00 and set an outperform rating on the stock in a report on Friday, February 23rd. Finally, Morgan Stanley reaffirmed an equal weight rating and set a $14.00 price objective (down previously from $24.00) on shares of Sunnova Energy International in a report on Monday, March 4th. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Sunnova Energy International presently has an average rating of Moderate Buy and a consensus price target of $18.73.

Sunnova Energy International Price Performance

Shares of NOVA opened at $3.81 on Friday. The company has a debt-to-equity ratio of 3.58, a current ratio of 0.85 and a quick ratio of 0.85. Sunnova Energy International has a one year low of $3.52 and a one year high of $24.56. The business’s 50 day simple moving average is $6.40 and its 200-day simple moving average is $9.51.

Sunnova Energy International (NYSE:NOVA) last announced its earnings results on Wednesday, February 21st. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.04. The business had revenue of $194.18 million for the quarter, compared to the consensus estimate of $226.09 million. Sunnova Energy International had a negative return on equity of 13.26% and a negative net margin of 58.00%. As a group, equities analysts anticipate that Sunnova Energy International will post -2.28 EPS for the current fiscal year.

Insider Activity at Sunnova Energy International

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

Hedge Funds Weigh In On Sunnova Energy International

A number of large investors have recently added to or reduced their stakes in the company. First Trust Direct Indexing L.P. bought a new position in Sunnova Energy International during the 1st quarter worth about $66,000. Vanguard Group Inc. increased its holdings in Sunnova Energy International by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 10,486,392 shares of the company’s stock worth $159,917,000 after purchasing an additional 215,905 shares in the last quarter. Wellington Management Group LLP increased its holdings in Sunnova Energy International by 2.3% during the 4th quarter. Wellington Management Group LLP now owns 343,267 shares of the company’s stock worth $5,235,000 after purchasing an additional 7,571 shares in the last quarter. American International Group Inc. increased its holdings in Sunnova Energy International by 4.8% during the 4th quarter. American International Group Inc. now owns 52,863 shares of the company’s stock worth $806,000 after purchasing an additional 2,443 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Sunnova Energy International by 25.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 62,971 shares of the company’s stock worth $961,000 after purchasing an additional 12,922 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.