Sunnova Energy International (NYSE:NOVA) Price Target Lowered to $9.00 at Truist Financial

Sunnova Energy International (NYSE:NOVA) had its price target decreased by Truist Financial from $16.00 to $9.00 in a research note released on Tuesday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company reaffirmed an equal weight rating and issued a $6.00 target price (down from $11.00) on shares of Sunnova Energy International in a research note on Friday, April 19th. Evercore ISI reduced their price objective on Sunnova Energy International from $29.00 to $26.00 and set an outperform rating for the company in a research report on Friday, February 23rd. Northland Securities reissued a market perform rating and issued a $9.00 target price (down previously from $12.00) on shares of Sunnova Energy International in a research report on Friday, February 23rd. Scotiabank cut their target price on Sunnova Energy International from $20.00 to $10.00 and set a sector outperform rating on the stock in a research note on Monday. Finally, The Goldman Sachs Group decreased their price target on shares of Sunnova Energy International from $14.00 to $12.00 and set a buy rating for the company in a research note on Thursday, April 11th. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $17.86.

Sunnova Energy International Price Performance

Shares of NOVA opened at $4.21 on Tuesday. The stock has a 50 day simple moving average of $5.35 and a 200 day simple moving average of $9.23. Sunnova Energy International has a 52-week low of $3.52 and a 52-week high of $24.56. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $520.75 million, a PE ratio of -1.20 and a beta of 2.08.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings results on Wednesday, February 21st. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.04. Sunnova Energy International had a negative net margin of 58.00% and a negative return on equity of 13.26%. The firm had revenue of $194.18 million for the quarter, compared to analyst estimates of $226.09 million. Sell-side analysts predict that Sunnova Energy International will post -2.37 EPS for the current fiscal year.

Insider Buying and Selling

In other Sunnova Energy International news, Director Akbar Mohamed purchased 152,450 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was acquired at an average price of $6.92 per share, with a total value of $1,054,954.00. Following the acquisition, the director now directly owns 236,139 shares of the company’s stock, valued at approximately $1,634,081.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Akbar Mohamed purchased 152,450 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were acquired at an average price of $6.92 per share, for a total transaction of $1,054,954.00. Following the purchase, the director now owns 236,139 shares in the company, valued at $1,634,081.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jack O. Lynch III sold 12,994 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $6.21, for a total transaction of $80,692.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,580 shares of company stock valued at $137,382. 4.50% of the stock is owned by insiders.

Institutional Trading of Sunnova Energy International

Several hedge funds have recently added to or reduced their stakes in NOVA. Commonwealth Equity Services LLC increased its position in Sunnova Energy International by 34.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 17,527 shares of the company’s stock worth $184,000 after buying an additional 4,450 shares during the period. Raymond James & Associates increased its position in Sunnova Energy International by 19.5% during the third quarter. Raymond James & Associates now owns 95,096 shares of the company’s stock worth $996,000 after acquiring an additional 15,503 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in Sunnova Energy International by 3.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 66,485 shares of the company’s stock worth $696,000 after acquiring an additional 1,962 shares during the period. Mackenzie Financial Corp raised its stake in Sunnova Energy International by 37.2% in the 3rd quarter. Mackenzie Financial Corp now owns 115,657 shares of the company’s stock worth $1,211,000 after purchasing an additional 31,338 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Sunnova Energy International by 4.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 105,299 shares of the company’s stock valued at $1,102,000 after purchasing an additional 4,411 shares during the period.

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.