Piper Sandler Issues Pessimistic Forecast for Sunnova Energy International (NYSE:NOVA) Stock Price

Sunnova Energy International (NYSE:NOVA) had its target price cut by Piper Sandler from $8.00 to $4.50 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts also recently issued reports on NOVA. The Goldman Sachs Group lifted their price target on shares of Sunnova Energy International from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. BNP Paribas downgraded shares of Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 price target for the company. in a research note on Friday, November 8th. Truist Financial lifted their price target on shares of Sunnova Energy International from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Barclays decreased their price target on shares of Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Finally, Susquehanna lifted their price target on shares of Sunnova Energy International from $12.00 to $14.00 and gave the stock a “positive” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.73.

Sunnova Energy International Stock Performance

NOVA opened at $5.34 on Friday. 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 firm has a fifty day moving average price of $6.54 and a 200 day moving average price of $6.92. Sunnova Energy International has a 1 year low of $2.99 and a 1 year high of $16.35. The stock has a market cap of $666.61 million, a P/E ratio of -1.59 and a beta of 2.26.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.45). Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The company had revenue of $235.30 million for the quarter, compared to analysts’ expectations of $238.23 million. During the same period in the previous year, the business earned ($0.53) earnings per share. The business’s revenue for the quarter was up 18.6% on a year-over-year basis. Equities research analysts anticipate that Sunnova Energy International will post -2.29 earnings per share for the current year.

Insider Transactions at Sunnova Energy International

In related news, Director Akbar Mohamed purchased 54,717 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average price of $3.80 per share, with a total value of $207,924.60. Following the purchase, the director now directly owns 302,654 shares in the company, valued at $1,150,085.20. This represents a 22.07 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Eric Michael Williams acquired 13,800 shares of the business’s stock in a transaction on Monday, November 18th. The stock was acquired at an average price of $3.60 per share, with a total value of $49,680.00. Following the transaction, the chief financial officer now owns 13,800 shares in the company, valued at approximately $49,680. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders bought 118,517 shares of company stock valued at $439,605 in the last three months. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NOVA. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Sunnova Energy International by 56.7% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 14,142,487 shares of the company’s stock valued at $78,915,000 after buying an additional 5,118,552 shares during the period. Sylebra Capital LLC increased its holdings 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 valued at $121,195,000 after purchasing an additional 6,926,399 shares during the period. Vanguard Group Inc. grew its holdings in Sunnova Energy International by 0.8% during the 1st 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 period. Erste Asset Management GmbH bought a new position in shares of Sunnova Energy International during the 3rd quarter worth about $76,550,000. Finally, Handelsbanken Fonder AB boosted its position in shares of Sunnova Energy International by 9.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock worth $71,097,000 after purchasing an additional 611,452 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.