Morgan Stanley Lowers Sunnova Energy International (NYSE:NOVA) Price Target to $6.00

Sunnova Energy International (NYSE:NOVA) had its price objective decreased by Morgan Stanley from $12.00 to $6.00 in a research note published on Friday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other analysts also recently weighed in on the stock. Piper Sandler increased their target price on shares of Sunnova Energy International from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Robert W. Baird decreased their target price on shares of Sunnova Energy International from $18.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Wolfe Research downgraded shares of Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. The Goldman Sachs Group increased their target price on shares of Sunnova Energy International from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Scotiabank increased their target price on shares of Sunnova Energy International from $10.00 to $14.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.89.

Sunnova Energy International Stock Down 6.9 %

Shares of NYSE NOVA opened at $3.75 on Friday. The company has a 50 day simple moving average of $7.34 and a 200 day simple moving average of $6.93. The firm has a market cap of $468.56 million, a PE ratio of -1.12 and a beta of 2.26. Sunnova Energy International has a 1 year low of $2.99 and a 1 year high of $16.35. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.45). The business had revenue of $235.30 million during the quarter, compared to the consensus estimate of $238.23 million. Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.53) EPS. On average, research analysts forecast that Sunnova Energy International will post -2.24 EPS for the current year.

Insider Buying and Selling at Sunnova Energy International

In other Sunnova Energy International news, insider William J. Berger sold 77,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $11.31, for a total transaction of $870,870.00. Following the transaction, the insider now directly owns 409,045 shares in the company, valued at approximately $4,626,298.95. This trade represents a 15.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Sunnova Energy International

Several large investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its stake in Sunnova Energy International by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,562,684 shares of the company’s stock valued at $24,965,000 after acquiring an additional 88,945 shares in the last quarter. Sylebra Capital LLC raised its stake in shares of Sunnova Energy International by 125.6% during the 3rd quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock worth $121,195,000 after purchasing an additional 6,926,399 shares during the period. XTX Topco Ltd bought a new stake in shares of Sunnova Energy International during the 3rd quarter worth $875,000. Paloma Partners Management Co bought a new stake in shares of Sunnova Energy International during the 3rd quarter worth $151,000. Finally, Erste Asset Management GmbH bought a new stake in shares of Sunnova Energy International during the 3rd quarter worth $76,550,000.

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.