Sunnova Energy International (NYSE:NOVA) Given New $9.00 Price Target at Truist Financial

Sunnova Energy International (NYSE:NOVA) had its price target trimmed by Truist Financial from $16.00 to $9.00 in a research note released on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. B. Riley cut their price target on shares of Sunnova Energy International from $21.00 to $15.00 and set a buy rating on the stock in a report on Monday, April 22nd. Morgan Stanley reissued an equal weight rating and set a $14.00 target price (down from $24.00) on shares of Sunnova Energy International in a research note on Monday, March 4th. Janney Montgomery Scott upgraded Sunnova Energy International from a neutral rating to a buy rating and set a $12.00 price target on the stock in a report on Friday, March 22nd. Mizuho reduced their price objective on Sunnova Energy International from $21.00 to $17.00 and set a buy rating for the company in a research note on Friday, April 19th. Finally, The Goldman Sachs Group lowered their target price on Sunnova Energy International from $14.00 to $12.00 and set a buy rating on the stock in a research note on Thursday, April 11th. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $16.71.

Sunnova Energy International Stock Performance

NOVA opened at $4.79 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.58. The firm has a market cap of $592.57 million, a PE ratio of -1.43 and a beta of 2.15. The business has a fifty day simple moving average of $5.11 and a 200-day simple moving average of $9.15. Sunnova Energy International has a fifty-two week low of $3.37 and a fifty-two week high of $24.56.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.57) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.22. The business had revenue of $160.90 million during the quarter, compared to analyst estimates of $193.78 million. Sunnova Energy International had a negative return on equity of 12.35% and a negative net margin of 56.52%. Sunnova Energy International’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the company posted ($0.70) EPS. As a group, equities analysts predict that Sunnova Energy International will post -2.39 EPS for the current fiscal year.

Insider Activity

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 transaction of $50,445.00. Following the completion of the sale, the insider now directly owns 14,007 shares of the company’s stock, valued at approximately $74,377.17. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Jack O. Lynch III sold 12,994 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $6.21, for a total transaction of $80,692.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul S. Mathews sold 9,500 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $5.31, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 23,580 shares of company stock valued at $137,382 over the last 90 days. 4.50% of the stock is currently owned by company insiders.

Institutional Trading of Sunnova Energy International

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Sunnova Energy International by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 10,486,392 shares of the company’s stock valued at $159,917,000 after buying an additional 215,905 shares during the last quarter. Electron Capital Partners LLC raised its holdings in Sunnova Energy International by 42.9% in the 3rd quarter. Electron Capital Partners LLC now owns 5,308,684 shares of the company’s stock valued at $55,582,000 after acquiring an additional 1,593,098 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Sunnova Energy International by 124.4% in the 4th quarter. Van ECK Associates Corp now owns 1,563,320 shares of the company’s stock worth $23,841,000 after acquiring an additional 866,705 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Sunnova Energy International by 57.6% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,324,957 shares of the company’s stock worth $13,872,000 after acquiring an additional 484,150 shares during the period. Finally, Guinness Asset Management LTD increased its position in shares of Sunnova Energy International by 5.9% during the third quarter. Guinness Asset Management LTD now owns 1,240,355 shares of the company’s stock valued at $12,981,000 after purchasing an additional 69,539 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.