Sunnova Energy International (NYSE:NOVA) Earns “Equal Weight” Rating from Wells Fargo & Company

Sunnova Energy International (NYSE:NOVA)‘s stock had its “equal weight” rating reiterated by Wells Fargo & Company in a research note issued on Friday, Marketbeat reports. They currently have a $6.00 price target on the stock, down from their prior price target of $11.00. Wells Fargo & Company‘s price target would suggest a potential upside of 58.73% from the stock’s current price.

Several other equities research analysts have also commented on the company. Evercore ISI dropped their price target on Sunnova Energy International from $29.00 to $26.00 and set an “outperform” rating for the company in a research note on Friday, February 23rd. Janney Montgomery Scott upgraded Sunnova Energy International from a “neutral” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Friday, March 22nd. Mizuho lowered their target price on Sunnova Energy International from $25.00 to $21.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. 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. Finally, B. Riley lowered their target price on Sunnova Energy International from $25.00 to $21.00 and set a “buy” rating for the company in a research note on Monday, February 5th. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.90.

Sunnova Energy International Stock Performance

NYSE NOVA opened at $3.78 on Friday. The business’s 50-day moving average price is $6.56 and its 200 day moving average price is $9.55. Sunnova Energy International has a twelve month low of $3.74 and a twelve month high of $24.56. The company has a market capitalization of $468.12 million, a PE ratio of -1.08 and a beta of 2.08. The company has a current ratio of 0.85, a quick 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, February 21st. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.04. The company had revenue of $194.18 million during the quarter, compared to analyst estimates of $226.09 million. Sunnova Energy International had a negative return on equity of 13.26% and a negative net margin of 58.00%. On average, research analysts predict that Sunnova Energy International will post -2.28 earnings per share for the current year.

Insider Transactions at Sunnova Energy International

In other Sunnova Energy International news, Director Akbar Mohamed bought 152,450 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was acquired at an average price of $6.92 per share, with a total value of $1,054,954.00. Following the completion of the transaction, the director now directly owns 236,139 shares in the company, valued at approximately $1,634,081.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Akbar Mohamed acquired 152,450 shares of Sunnova Energy International stock in a transaction that occurred on Wednesday, February 28th. The stock was purchased at an average price of $6.92 per share, with a total value of $1,054,954.00. Following the completion of the transaction, the director now owns 236,139 shares in the company, valued at $1,634,081.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jack O. Lynch III sold 12,994 shares of Sunnova Energy International stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $6.21, for a total value of $80,692.74. The disclosure for this sale can be found here. Insiders sold a total of 23,580 shares of company stock valued at $137,382 over the last quarter. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Sunnova Energy International

Several institutional investors have recently bought and sold shares of the stock. Mariner LLC raised its holdings in Sunnova Energy International by 0.5% during the fourth quarter. Mariner LLC now owns 123,835 shares of the company’s stock valued at $2,230,000 after buying an additional 587 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Sunnova Energy International by 2.5% during the fourth quarter. Advisors Asset Management Inc. now owns 24,399 shares of the company’s stock valued at $439,000 after buying an additional 591 shares in the last quarter. Cim Investment Management Inc. raised its holdings in Sunnova Energy International by 3.6% during the first quarter. Cim Investment Management Inc. now owns 19,647 shares of the company’s stock valued at $307,000 after buying an additional 676 shares in the last quarter. Ensign Peak Advisors Inc increased its stake in shares of Sunnova Energy International by 3.4% in the first quarter. Ensign Peak Advisors Inc now owns 21,510 shares of the company’s stock worth $496,000 after purchasing an additional 710 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Sunnova Energy International by 2.0% in the second 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 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.