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

Sunnova Energy International (NYSE:NOVA) had its price target lowered by Mizuho from $21.00 to $17.00 in a report released on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts also recently issued reports on NOVA. B. Riley cut their price target on shares of Sunnova Energy International from $25.00 to $21.00 and set a buy rating for the company in a report on Monday, February 5th. Truist Financial restated a buy rating and issued a $16.00 price target (down previously from $18.00) on shares of Sunnova Energy International in a research note on Monday, February 26th. Morgan Stanley restated an equal weight rating and issued a $14.00 price target (down previously from $24.00) on shares of Sunnova Energy International in a research note on Monday, March 4th. Janney Montgomery Scott upgraded shares of Sunnova Energy International from a neutral rating to a buy rating and set a $12.00 price target for the company in a research note on Friday, March 22nd. Finally, Evercore ISI lowered their target price on shares of Sunnova Energy International from $29.00 to $26.00 and set an outperform rating for the company in a research note on Friday, February 23rd. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $18.48.

Sunnova Energy International Stock Up 0.4 %

NOVA stock opened at $3.82 on Friday. The company has a market cap of $472.45 million, a price-to-earnings ratio of -1.09 and a beta of 2.08. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.58. Sunnova Energy International has a 12 month low of $3.52 and a 12 month high of $24.56. The firm has a 50-day moving average of $6.23 and a two-hundred day moving average of $9.47.

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

Insider Activity

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

Institutional Trading of Sunnova Energy International

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Manchester Capital Management LLC increased its position in shares of Sunnova Energy International by 2,959.7% in the fourth quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock worth $29,000 after acquiring an additional 1,835 shares in the last quarter. First Trust Direct Indexing L.P. purchased a new position in shares of Sunnova Energy International in the first quarter worth approximately $66,000. Allspring Global Investments Holdings LLC increased its position in shares of Sunnova Energy International by 158.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,036 shares of the company’s stock worth $74,000 after acquiring an additional 4,310 shares in the last quarter. NewEdge Wealth LLC purchased a new position in Sunnova Energy International during the third quarter valued at approximately $125,000. Finally, Principal Financial Group Inc. grew its position in Sunnova Energy International by 14.0% during the third quarter. Principal Financial Group Inc. now owns 12,893 shares of the company’s stock valued at $135,000 after purchasing an additional 1,584 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.