Sunnova Energy International (NYSE:NOVA) Price Target Cut to $12.00 by Analysts at Robert W. Baird

Sunnova Energy International (NYSE:NOVA) had its price objective reduced by research analysts at Robert W. Baird from $14.00 to $12.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 177.78% from the company’s previous close.

NOVA has been the subject of a number of other research reports. Susquehanna cut their target price on shares of Sunnova Energy International from $20.00 to $12.00 and set a “positive” rating for the company in a research note on Friday, April 5th. Truist Financial cut their target price on shares of Sunnova Energy International from $16.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday. Morgan Stanley reiterated an “equal weight” rating and issued a $14.00 target price (down previously from $24.00) on shares of Sunnova Energy International in a research note on Monday, March 4th. B. Riley dropped their price objective on shares of Sunnova Energy International from $21.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Finally, Northland Securities restated a “market perform” rating and issued a $9.00 price objective (down previously from $12.00) on shares of Sunnova Energy International in a research report on Friday, February 23rd. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.63.

Sunnova Energy International Stock Up 22.4 %

NOVA stock opened at $4.32 on Friday. Sunnova Energy International has a twelve month low of $3.37 and a twelve month high of $24.56. The company has a market cap of $534.99 million, a PE ratio of -1.28 and a beta of 2.15. The business’s 50-day simple moving average is $5.19 and its 200 day simple moving average is $9.19. 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 announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.57) EPS for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.22. The firm had revenue of $160.90 million during the quarter, compared to analysts’ expectations of $193.78 million. Sunnova Energy International had a negative net margin of 56.52% and a negative return on equity of 12.35%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.70) earnings per share. On average, research analysts anticipate that Sunnova Energy International will post -2.39 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Akbar Mohamed bought 152,450 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were bought at an average cost of $6.92 per share, with a total value of $1,054,954.00. Following the acquisition, the director now owns 236,139 shares in the company, valued at $1,634,081.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Paul S. Mathews sold 9,500 shares of the company’s 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 of the company’s stock, valued at approximately $74,377.17. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Akbar Mohamed purchased 152,450 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was bought at an average price of $6.92 per share, for a total transaction of $1,054,954.00. Following the purchase, the director now owns 236,139 shares in the company, valued at approximately $1,634,081.88. The disclosure for this purchase can be found here. Insiders have sold 23,580 shares of company stock valued at $137,382 in the last three months. 4.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sunnova Energy International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ballentine Partners LLC acquired a new position in shares of Sunnova Energy International during the fourth quarter worth $161,000. Vanguard Group Inc. lifted its holdings in shares of Sunnova Energy International by 3.8% during the third quarter. Vanguard Group Inc. now owns 10,270,487 shares of the company’s stock worth $107,532,000 after purchasing an additional 379,032 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Sunnova Energy International by 124.4% during the fourth quarter. Van ECK Associates Corp now owns 1,563,320 shares of the company’s stock worth $23,841,000 after purchasing an additional 866,705 shares during the period. Dark Forest Capital Management LP acquired a new position in shares of Sunnova Energy International during the third quarter worth $593,000. Finally, Money Concepts Capital Corp lifted its holdings in Sunnova Energy International by 20.3% in the third quarter. Money Concepts Capital Corp now owns 634,117 shares of the company’s stock valued at $6,639,000 after buying an additional 106,819 shares during the period.

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.