Sunnova Energy International (NYSE:NOVA) Price Target Lowered to $12.00 at Robert W. Baird

Sunnova Energy International (NYSE:NOVA) had its target price cut by Robert W. Baird from $18.00 to $12.00 in a research report report published on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other analysts have also recently issued reports on NOVA. Piper Sandler boosted their price objective on Sunnova Energy International from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Barclays lowered their price target on shares of Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Citigroup decreased their target price on shares of Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Susquehanna raised their price target on shares of Sunnova Energy International from $12.00 to $14.00 and gave the stock a “positive” rating in a research note on Friday, August 2nd. Finally, Guggenheim upped their price objective on Sunnova Energy International from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $11.61.

Sunnova Energy International Trading Up 14.3 %

NYSE:NOVA opened at $6.55 on Friday. Sunnova Energy International has a 12 month low of $3.37 and a 12 month high of $16.35. The company’s 50 day moving average is $8.59 and its 200-day moving average is $6.93. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 3.11. The firm has a market cap of $817.83 million, a price-to-earnings ratio of -1.96 and a beta of 2.26.

Sunnova Energy International (NYSE:NOVA) last announced its earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.45). Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.46%. The business had revenue of $235.30 million for the quarter, compared to the consensus estimate of $238.23 million. During the same quarter in the previous year, the company earned ($0.53) EPS. Sunnova Energy International’s revenue for the quarter was up 18.6% compared to the same quarter last year. Equities analysts anticipate that Sunnova Energy International will post -1.99 EPS for the current year.

Insider Activity

In other news, insider William J. Berger sold 77,000 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $11.31, for a total transaction of $870,870.00. Following the transaction, the insider now owns 409,045 shares of the company’s stock, valued at $4,626,298.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. First Trust Direct Indexing L.P. acquired a new stake in shares of Sunnova Energy International in the 1st quarter valued at approximately $66,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Sunnova Energy International by 7.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 102,766 shares of the company’s stock valued at $630,000 after buying an additional 6,751 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Sunnova Energy International by 129.9% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,788 shares of the company’s stock valued at $72,000 after buying an additional 6,661 shares in the last quarter. GSA Capital Partners LLP increased its position in shares of Sunnova Energy International by 100.5% in the 1st quarter. GSA Capital Partners LLP now owns 109,710 shares of the company’s stock valued at $673,000 after buying an additional 55,000 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP bought a new position in Sunnova Energy International during the first quarter worth about $1,846,000.

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.