Sunnova Energy International (NYSE:NOVA) PT Lowered to $12.00 at Robert W. Baird

Sunnova Energy International (NYSE:NOVA) had its price objective cut by Robert W. Baird from $14.00 to $12.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 150.52% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. KeyCorp cut Sunnova Energy International from an “overweight” rating to a “sector weight” rating in a report on Tuesday, April 23rd. Evercore ISI dropped their target price on Sunnova Energy International from $29.00 to $26.00 and set an “outperform” rating for the company in a report on Friday, February 23rd. Northland Securities reissued a “market perform” rating and issued a $9.00 target price (down from $12.00) on shares of Sunnova Energy International in a report on Friday, February 23rd. Mizuho dropped their target price on Sunnova Energy International from $21.00 to $17.00 and set a “buy” rating for the company in a report on Friday, April 19th. Finally, The Goldman Sachs Group dropped their target price on Sunnova Energy International from $14.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, April 11th. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Sunnova Energy International has an average rating of “Moderate Buy” and a consensus target price of $16.71.

Sunnova Energy International Trading Up 8.4 %

Sunnova Energy International stock opened at $4.79 on Friday. The business has a 50 day moving average price of $5.05 and a two-hundred day moving average price of $9.11. 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 has a 12 month low of $3.37 and a 12 month high of $24.56.

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. Sunnova Energy International had a negative net margin of 56.52% and a negative return on equity of 12.35%. The firm had revenue of $160.90 million during the quarter, compared to analysts’ expectations of $193.78 million. During the same quarter last year, the company earned ($0.70) earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. Equities research analysts predict that Sunnova Energy International will post -2.39 earnings per share for the current year.

Insider Activity

In related news, insider Paul S. Mathews sold 9,500 shares of the business’s stock in a transaction that occurred 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 $74,377.17. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, 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 value of $50,445.00. Following the transaction, the insider now directly owns 14,007 shares in the company, valued at approximately $74,377.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Akbar Mohamed acquired 152,450 shares of the firm’s stock in a transaction that occurred on 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 completion of the purchase, the director now owns 236,139 shares of the company’s stock, valued at $1,634,081.88. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 23,580 shares of company stock valued at $137,382. 4.50% of the stock is currently owned by insiders.

Institutional Trading of Sunnova Energy International

A number of hedge funds have recently modified their holdings of NOVA. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Sunnova Energy International by 2.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 45,491 shares of the company’s stock valued at $663,000 after purchasing an additional 1,094 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Sunnova Energy International by 3.6% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 44,397 shares of the company’s stock valued at $465,000 after buying an additional 1,528 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of Sunnova Energy International by 8.0% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 20,898 shares of the company’s stock valued at $325,000 after buying an additional 1,554 shares in the last quarter. Principal Financial Group Inc. raised its stake in Sunnova Energy International by 14.0% during the 3rd quarter. Principal Financial Group Inc. now owns 12,893 shares of the company’s stock worth $135,000 after buying an additional 1,584 shares during the period. Finally, Manchester Capital Management LLC raised its stake in Sunnova Energy International by 2,959.7% during the 4th quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock worth $29,000 after buying an additional 1,835 shares during the period.

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.