Sunnova Energy International (NYSE:NOVA) Sets New 12-Month Low on Analyst Downgrade

Sunnova Energy International Inc. (NYSE:NOVA)’s share price reached a new 52-week low on Friday after Mizuho lowered their price target on the stock from $21.00 to $17.00. Mizuho currently has a buy rating on the stock. Sunnova Energy International traded as low as $3.52 and last traded at $4.04, with a volume of 4812215 shares traded. The stock had previously closed at $3.78.

Several other research firms have also recently commented on NOVA. Susquehanna reduced their price target on Sunnova Energy International from $20.00 to $12.00 and set a “positive” rating for the company in a report on Friday, April 5th. Evercore ISI reduced their price objective 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. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $6.00 price objective (down from $11.00) on shares of Sunnova Energy International in a report on Friday. Northland Securities reaffirmed a “market perform” rating and set a $9.00 price objective (down from $12.00) on shares of Sunnova Energy International in a report on Friday, February 23rd. Finally, Truist Financial reaffirmed a “buy” rating and set a $16.00 price objective (down from $18.00) on shares of Sunnova Energy International in a report on Monday, February 26th. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Sunnova Energy International currently has a consensus rating of “Moderate Buy” and an average price target of $18.73.

Insider Activity

In other news, insider Jack O. Lynch III sold 12,994 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $6.21, for a total transaction of $80,692.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jack O. Lynch III sold 12,994 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $6.21, for a total transaction of $80,692.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $50,445.00. Following the transaction, the insider now directly owns 14,007 shares of the company’s stock, valued at approximately $74,377.17. The disclosure for this sale can be found here. Insiders sold a total of 23,580 shares of company stock valued at $137,382 in the last 90 days. 4.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Mariner LLC increased its position in Sunnova Energy International by 0.5% during the 4th quarter. Mariner LLC now owns 123,835 shares of the company’s stock worth $2,230,000 after purchasing an additional 587 shares in the last quarter. Advisors Asset Management Inc. increased its position in Sunnova Energy International by 2.5% during the 4th quarter. Advisors Asset Management Inc. now owns 24,399 shares of the company’s stock worth $439,000 after purchasing an additional 591 shares in the last quarter. Cim Investment Management Inc. increased its position in Sunnova Energy International by 3.6% during the 1st quarter. Cim Investment Management Inc. now owns 19,647 shares of the company’s stock worth $307,000 after purchasing an additional 676 shares in the last quarter. Ensign Peak Advisors Inc increased its position in Sunnova Energy International by 3.4% during the 1st quarter. Ensign Peak Advisors Inc now owns 21,510 shares of the company’s stock worth $496,000 after purchasing an additional 710 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Sunnova Energy International by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,952 shares of the company’s stock worth $750,000 after purchasing an additional 822 shares in the last quarter.

Sunnova Energy International Stock Performance

The stock has a market cap of $470.59 million, a PE ratio of -1.09 and a beta of 2.08. The stock has a fifty day simple moving average of $6.40 and a two-hundred day simple moving average of $9.51. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.85 and a current ratio of 0.85.

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

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.