Piper Sandler Has Lowered Expectations for Sunnova Energy International (NYSE:NOVA) Stock Price

Sunnova Energy International (NYSE:NOVA) had its target price decreased by Piper Sandler from $8.00 to $4.50 in a report published on Friday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

NOVA has been the topic of several other research reports. Barclays dropped their target price on shares of Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Guggenheim cut shares of Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Sunnova Energy International from $9.00 to $6.25 and set a “hold” rating for the company in a research note on Friday, November 1st. BMO Capital Markets reaffirmed a “market perform” rating and set a $8.00 target price (down from $10.00) on shares of Sunnova Energy International in a research note on Friday, November 1st. Finally, Citigroup lowered their price objective on shares of Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Sunnova Energy International has a consensus rating of “Moderate Buy” and a consensus target price of $10.73.

Sunnova Energy International Stock Performance

NYSE NOVA opened at $5.34 on Friday. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $666.61 million, a P/E ratio of -1.59 and a beta of 2.26. The company has a fifty day moving average of $6.54 and a 200-day moving average of $6.92. Sunnova Energy International has a 52-week low of $2.99 and a 52-week high of $16.35.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.45). Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The firm had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $238.23 million. During the same quarter in the previous year, the firm posted ($0.53) EPS. Sunnova Energy International’s revenue was up 18.6% compared to the same quarter last year. As a group, equities research analysts predict that Sunnova Energy International will post -2.29 EPS for the current fiscal year.

Insider Transactions at Sunnova Energy International

In other news, Director Akbar Mohamed acquired 50,000 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was bought at an average cost of $3.64 per share, with a total value of $182,000.00. Following the transaction, the director now directly owns 352,654 shares in the company, valued at approximately $1,283,660.56. This represents a 16.52 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Eric Michael Williams acquired 13,800 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was purchased at an average cost of $3.60 per share, with a total value of $49,680.00. Following the completion of the transaction, the chief financial officer now owns 13,800 shares in the company, valued at $49,680. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 118,517 shares of company stock valued at $439,605 in the last quarter. 4.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Sunnova Energy International

Large investors have recently added to or reduced their stakes in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Sunnova Energy International by 56.7% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 14,142,487 shares of the company’s stock worth $78,915,000 after buying an additional 5,118,552 shares in the last quarter. Sylebra Capital LLC grew its position in Sunnova Energy International by 125.6% in the 3rd quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock worth $121,195,000 after purchasing an additional 6,926,399 shares during the last quarter. Vanguard Group Inc. grew its position in Sunnova Energy International by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 10,568,045 shares of the company’s stock worth $64,782,000 after purchasing an additional 81,653 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in Sunnova Energy International in the 3rd quarter worth $76,550,000. Finally, Handelsbanken Fonder AB boosted its position in shares of Sunnova Energy International by 9.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock valued at $71,097,000 after acquiring an additional 611,452 shares in 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.