Sunnova Energy International (NYSE:NOVA) Price Target Lowered to $6.00 at Morgan Stanley

Sunnova Energy International (NYSE:NOVA) had its target price lowered by Morgan Stanley from $12.00 to $6.00 in a report released on Friday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other equities research analysts also recently issued reports about the stock. Citigroup cut 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 note on Tuesday, October 22nd. The Goldman Sachs Group increased their price objective on Sunnova Energy International from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Wolfe Research cut Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Guggenheim lowered Sunnova Energy International from a “buy” rating to a “neutral” rating in a research report on Thursday, November 7th. Finally, Truist Financial boosted their price objective on Sunnova Energy International from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Sunnova Energy International presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.89.

Sunnova Energy International Stock Down 2.3 %

NYSE:NOVA opened at $3.67 on Friday. Sunnova Energy International has a 52 week low of $2.99 and a 52 week high of $16.35. The stock’s fifty day moving average is $7.20 and its two-hundred day moving average is $6.92. The stock has a market capitalization of $457.94 million, a price-to-earnings ratio of -1.09 and a beta of 2.26. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26.

Sunnova Energy International (NYSE:NOVA) last posted its earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.45). The firm had revenue of $235.30 million for the quarter, compared to analyst estimates of $238.23 million. Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. Sunnova Energy International’s revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.53) EPS. Research analysts anticipate that Sunnova Energy International will post -2.24 EPS for the current 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 shares were sold at an average price of $11.31, for a total value of $870,870.00. Following the transaction, the insider now directly owns 409,045 shares in the company, valued at approximately $4,626,298.95. The trade was a 15.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sunnova Energy International

Institutional investors have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB grew its stake in shares of Sunnova Energy International by 9.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock valued at $71,097,000 after purchasing an additional 611,452 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Sunnova Energy International by 23.4% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 357,781 shares of the company’s stock worth $1,996,000 after purchasing an additional 67,749 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in Sunnova Energy International in the 2nd quarter valued at $1,042,000. International Assets Investment Management LLC increased its stake in Sunnova Energy International by 37,400.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,000 shares of the company’s stock valued at $308,000 after buying an additional 2,992 shares during the period. Finally, Sylebra Capital LLC purchased a new position in Sunnova Energy International during the 2nd quarter worth $30,783,000.

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.