Sunnova Energy International (NYSE:NOVA) Cut to Neutral at Susquehanna

Sunnova Energy International (NYSE:NOVA) was downgraded by equities research analysts at Susquehanna from a “positive” rating to a “neutral” rating in a research report issued on Friday, MarketBeat reports. They presently have a $4.50 target price on the stock, down from their previous target price of $14.00. Susquehanna’s price objective indicates a potential upside of 31.20% from the company’s current price.

NOVA has been the subject of several other research reports. Morgan Stanley dropped their target price on shares of Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating for the company in a research report on Friday, November 15th. Wolfe Research downgraded shares of Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. Wells Fargo & Company dropped their target price on shares of Sunnova Energy International from $8.00 to $4.00 and set an “equal weight” rating for the company in a research report on Wednesday. Piper Sandler dropped their target price on shares of Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating for the company in a research report on Friday, November 22nd. Finally, Royal Bank of Canada downgraded shares of Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $9.58.

Sunnova Energy International Stock Performance

Sunnova Energy International stock opened at $3.43 on Friday. Sunnova Energy International has a 12-month low of $2.99 and a 12-month high of $13.00. The company has a market capitalization of $428.59 million, a price-to-earnings ratio of -1.02 and a beta of 2.29. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86. The firm’s fifty day moving average price is $4.21 and its 200 day moving average price is $6.72.

Sunnova Energy International (NYSE:NOVA) last released its quarterly 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). Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The firm had revenue of $235.30 million for the quarter, compared to analysts’ expectations of $238.23 million. During the same period last year, the firm earned ($0.53) EPS. The business’s quarterly revenue was up 18.6% on a year-over-year basis. On average, research analysts forecast that Sunnova Energy International will post -2.44 EPS for the current fiscal year.

Insider Buying and Selling at Sunnova Energy International

In related news, Director Akbar Mohamed purchased 54,717 shares of Sunnova Energy International stock in a transaction dated Friday, November 15th. The stock was bought at an average cost of $3.80 per share, with a total value of $207,924.60. Following the purchase, the director now owns 302,654 shares in the company, valued at approximately $1,150,085.20. The trade was a 22.07 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Eric Michael Williams purchased 13,800 shares of Sunnova Energy International stock in a transaction dated Monday, November 18th. The stock was bought at an average cost of $3.60 per share, with a total value of $49,680.00. Following the completion of the purchase, the chief financial officer now owns 13,800 shares in the company, valued at approximately $49,680. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders bought 118,517 shares of company stock valued at $439,605 in the last ninety days. Company insiders own 4.50% of the company’s stock.

Institutional Trading of Sunnova Energy International

Several institutional investors and hedge funds have recently added to or reduced their stakes in NOVA. Erste Asset Management GmbH acquired a new stake in Sunnova Energy International during the third quarter valued at approximately $76,550,000. Sylebra Capital LLC lifted its stake in Sunnova Energy International by 125.6% during the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock valued at $121,195,000 after purchasing an additional 6,926,399 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in Sunnova Energy International by 9.1% during the third 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. Electron Capital Partners LLC lifted its stake in Sunnova Energy International by 24.5% during the second quarter. Electron Capital Partners LLC now owns 3,004,938 shares of the company’s stock valued at $16,768,000 after purchasing an additional 591,514 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in Sunnova Energy International during the second quarter valued at approximately $2,851,000.

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.