Sunnova Energy International (NYSE:NOVA) PT Lowered to $10.00

Sunnova Energy International (NYSE:NOVA) had its price target lowered by Citigroup from $12.00 to $10.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 99.60% from the company’s previous close.

NOVA has been the topic of a number of other research reports. The Goldman Sachs Group boosted their price target on Sunnova Energy International from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Piper Sandler boosted their target price on Sunnova Energy International from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. BMO Capital Markets raised their price target on Sunnova Energy International from $9.00 to $10.00 and gave the company a “market perform” rating in a report on Monday, October 14th. Guggenheim lifted their price objective on shares of Sunnova Energy International from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Jefferies Financial Group assumed coverage on shares of Sunnova Energy International in a research report on Thursday, October 10th. They issued a “buy” rating and a $15.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.11.

Sunnova Energy International Price Performance

NYSE:NOVA opened at $5.01 on Tuesday. The stock has a market capitalization of $621.15 million, a PE ratio of -1.49 and a beta of 2.21. Sunnova Energy International has a 1-year low of $3.37 and a 1-year high of $16.35. The firm has a fifty day simple moving average of $9.33 and a 200 day simple moving average of $6.85. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 3.11.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.27. The company had revenue of $219.60 million during the quarter, compared to the consensus estimate of $220.38 million. Sunnova Energy International had a negative net margin of 45.76% and a negative return on equity of 8.85%. The company’s quarterly revenue was up 32.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.74) EPS. On average, research analysts expect that Sunnova Energy International will post -1.86 EPS for the current fiscal year.

Insider Buying and Selling

In other Sunnova Energy International news, insider William J. Berger sold 77,000 shares of Sunnova Energy International stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $11.31, for a total value of $870,870.00. Following the completion of the transaction, the insider now directly owns 409,045 shares of the company’s stock, valued at $4,626,298.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.50% of the stock is currently owned by company insiders.

Institutional Trading of Sunnova Energy International

Several large investors have recently modified their holdings of the stock. Wellington Management Group LLP lifted its position in Sunnova Energy International by 2.3% during the fourth quarter. Wellington Management Group LLP now owns 343,267 shares of the company’s stock worth $5,235,000 after purchasing an additional 7,571 shares during the period. Vanguard Group Inc. raised its position in shares of Sunnova Energy International by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 10,486,392 shares of the company’s stock valued at $159,917,000 after buying an additional 215,905 shares in the last quarter. First Trust Direct Indexing L.P. bought a new stake in shares of Sunnova Energy International during the 1st quarter worth approximately $66,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Sunnova Energy International by 7.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 102,766 shares of the company’s stock worth $630,000 after acquiring an additional 6,751 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Sunnova Energy International by 129.9% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,788 shares of the company’s stock worth $72,000 after acquiring an additional 6,661 shares in the last quarter.

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.