Sunnova Energy International (NYSE:NOVA) Given New $17.00 Price Target at Mizuho

Sunnova Energy International (NYSE:NOVA) had its target price cut by stock analysts at Mizuho from $21.00 to $17.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Mizuho’s price target indicates a potential upside of 347.37% from the company’s current price.

Several other brokerages have also recently weighed in on NOVA. Northland Securities reaffirmed a “market perform” rating and issued a $9.00 price target (down previously from $12.00) on shares of Sunnova Energy International in a research report on Friday, February 23rd. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $6.00 price target (down previously from $11.00) on shares of Sunnova Energy International in a research report on Friday. Janney Montgomery Scott raised shares of Sunnova Energy International from a “neutral” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Friday, March 22nd. Evercore ISI dropped their price target on shares of Sunnova Energy International from $29.00 to $26.00 and set an “outperform” rating on the stock in a research report on Friday, February 23rd. Finally, Susquehanna dropped their price target on shares of Sunnova Energy International from $20.00 to $12.00 and set a “positive” rating on the stock in a research report on Friday, April 5th. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.73.

Sunnova Energy International Stock Up 0.5 %

Shares of NOVA traded up $0.02 during trading hours on Friday, hitting $3.80. The stock had a trading volume of 6,059,802 shares, compared to its average volume of 9,163,806. The company has a debt-to-equity ratio of 3.58, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a 50 day simple moving average of $6.56 and a 200-day simple moving average of $9.55. The firm has a market capitalization of $470.59 million, a P/E ratio of -1.10 and a beta of 2.08. Sunnova Energy International has a 1-year low of $3.52 and a 1-year high of $24.56.

Sunnova Energy International (NYSE:NOVA) last issued its earnings results on Wednesday, February 21st. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.04. The company had revenue of $194.18 million during the quarter, compared to the consensus estimate of $226.09 million. Sunnova Energy International had a negative return on equity of 13.26% and a negative net margin of 58.00%. Sell-side analysts predict that Sunnova Energy International will post -2.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Paul S. Mathews sold 9,500 shares of Sunnova Energy International stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $5.31, for a total value of $50,445.00. Following the sale, the insider now 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 Securities & Exchange Commission, which is available at the SEC website. In related news, insider Jack O. Lynch III sold 12,994 shares of Sunnova Energy International stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $6.21, for a total value of $80,692.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul S. Mathews sold 9,500 shares of Sunnova Energy International 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 transaction, the insider now owns 14,007 shares of the company’s stock, valued at $74,377.17. The disclosure for this sale 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 owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Mariner LLC grew its position in shares of Sunnova Energy International by 0.5% during the 4th quarter. Mariner LLC now owns 123,835 shares of the company’s stock valued at $2,230,000 after purchasing an additional 587 shares in the last quarter. Advisors Asset Management Inc. grew its position in shares of Sunnova Energy International by 2.5% during the 4th quarter. Advisors Asset Management Inc. now owns 24,399 shares of the company’s stock valued at $439,000 after purchasing an additional 591 shares in the last quarter. Cim Investment Management Inc. grew its position in shares of Sunnova Energy International by 3.6% during the 1st quarter. Cim Investment Management Inc. now owns 19,647 shares of the company’s stock valued at $307,000 after purchasing an additional 676 shares in the last quarter. Ensign Peak Advisors Inc grew its position in shares of Sunnova Energy International by 3.4% during the 1st quarter. Ensign Peak Advisors Inc now owns 21,510 shares of the company’s stock valued at $496,000 after purchasing an additional 710 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of 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 acquiring an additional 822 shares during the last quarter.

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.