Sunnova Energy International (NYSE:NOVA) PT Lowered to $9.00 at Truist Financial

Sunnova Energy International (NYSE:NOVA) had its price target cut by Truist Financial from $16.00 to $9.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 107.37% from the stock’s previous close.

NOVA has been the topic of several other reports. Susquehanna dropped their price target on 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. Scotiabank dropped their price target on Sunnova Energy International from $20.00 to $10.00 and set a “sector outperform” rating on the stock in a research report on Monday. Wells Fargo & Company restated an “equal weight” rating and set a $6.00 price target (down from $11.00) on shares of Sunnova Energy International in a research report on Friday, April 19th. Mizuho dropped their price target on Sunnova Energy International from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Finally, The Goldman Sachs Group dropped their price target on Sunnova Energy International from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, April 11th. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Sunnova Energy International currently has an average rating of “Moderate Buy” and an average price target of $17.86.

Sunnova Energy International Price Performance

NOVA opened at $4.34 on Tuesday. 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 has a 52-week low of $3.52 and a 52-week high of $24.56. The stock has a market capitalization of $537.47 million, a PE ratio of -1.24 and a beta of 2.08. The stock’s 50 day moving average price is $5.49 and its 200-day moving average price is $9.27.

Sunnova Energy International (NYSE:NOVA) last posted its earnings results on Wednesday, February 21st. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.04. Sunnova Energy International had a negative return on equity of 13.26% and a negative net margin of 58.00%. The firm had revenue of $194.18 million for the quarter, compared to analysts’ expectations of $226.09 million. On average, equities research analysts predict that Sunnova Energy International will post -2.37 EPS for the current year.

Insider Activity

In other Sunnova Energy International news, Director Akbar Mohamed purchased 152,450 shares of the stock in a transaction dated Wednesday, February 28th. The shares were purchased at an average cost of $6.92 per share, with a total value of $1,054,954.00. Following the completion of the acquisition, the director now directly owns 236,139 shares in the company, valued at approximately $1,634,081.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Paul S. Mathews sold 9,500 shares of the company’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 $74,377.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Akbar Mohamed acquired 152,450 shares of Sunnova Energy International stock in a transaction that occurred on Wednesday, February 28th. The shares were purchased at an average price of $6.92 per share, with a total value of $1,054,954.00. Following the transaction, the director now owns 236,139 shares of the company’s stock, valued at approximately $1,634,081.88. The disclosure for this purchase can be found here. Insiders have sold a total of 23,580 shares of company stock valued at $137,382 over the last ninety days. 4.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Sunnova Energy International

A number of hedge funds have recently bought and sold shares of NOVA. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Sunnova Energy International during the first quarter valued at $25,000. Manchester Capital Management LLC increased its position in Sunnova Energy International by 2,959.7% during the fourth quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock valued at $29,000 after acquiring an additional 1,835 shares during the last quarter. First Trust Direct Indexing L.P. purchased a new stake in Sunnova Energy International during the first quarter valued at $66,000. Allspring Global Investments Holdings LLC increased its position in Sunnova Energy International by 158.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,036 shares of the company’s stock valued at $74,000 after acquiring an additional 4,310 shares during the last quarter. Finally, NewEdge Wealth LLC purchased a new stake in Sunnova Energy International during the third quarter valued at $125,000.

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.