JPMorgan Chase & Co. Has Lowered Expectations for Sunnova Energy International (NYSE:NOVA) Stock Price

Sunnova Energy International (NYSE:NOVA) had its target price cut by stock analysts at JPMorgan Chase & Co. from $14.00 to $11.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 294.97% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the stock. Wolfe Research downgraded shares of Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. TD Cowen started coverage on shares of Sunnova Energy International in a research report on Thursday, December 19th. They set a “hold” rating and a $5.00 price objective on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Sunnova Energy International from $9.00 to $6.25 and set a “hold” rating on the stock in a research note on Friday, November 1st. Jefferies Financial Group started coverage on shares of Sunnova Energy International in a report on Thursday, October 10th. They issued a “buy” rating and a $15.00 price objective for the company. Finally, Royal Bank of Canada lowered Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $9.64.

Sunnova Energy International Trading Down 4.3 %

Shares of NOVA traded down $0.13 during trading hours on Thursday, reaching $2.79. 7,078,710 shares of the company traded hands, compared to its average volume of 8,534,706. 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 has a 12 month low of $2.64 and a 12 month high of $13.00. The company’s fifty day moving average price is $4.04 and its two-hundred day moving average price is $6.59. The company has a market capitalization of $347.99 million, a price-to-earnings ratio of -0.82 and a beta of 2.29.

Sunnova Energy International (NYSE:NOVA) last released its quarterly 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). The firm had revenue of $235.30 million for the quarter, compared to the consensus estimate of $238.23 million. Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.53) earnings per share. Equities research analysts predict that Sunnova Energy International will post -2.57 earnings per share for the current fiscal year.

Insider Activity

In other Sunnova Energy International news, CFO Eric Michael Williams purchased 13,800 shares of the business’s stock in a transaction on Monday, November 18th. The stock was acquired at an average price of $3.60 per share, for a total transaction of $49,680.00. Following the purchase, the chief financial officer now owns 13,800 shares of the company’s stock, valued at approximately $49,680. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Akbar Mohamed acquired 50,000 shares of the stock in a transaction dated Monday, November 18th. The stock was acquired at an average price of $3.64 per share, for a total transaction of $182,000.00. Following the completion of the transaction, the director now directly owns 352,654 shares of the company’s stock, valued at approximately $1,283,660.56. This represents a 16.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 118,517 shares of company stock valued at $439,605 in the last ninety days. Corporate insiders own 4.50% of the company’s stock.

Institutional Trading of Sunnova Energy International

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. PFG Investments LLC grew its holdings in Sunnova Energy International by 37.0% during the 4th quarter. PFG Investments LLC now owns 18,345 shares of the company’s stock valued at $63,000 after buying an additional 4,955 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of Sunnova Energy International during the 2nd quarter valued at approximately $78,000. AE Wealth Management LLC purchased a new stake in shares of Sunnova Energy International in the second quarter valued at $81,000. GAMMA Investing LLC lifted its stake in Sunnova Energy International by 736.3% in the third quarter. GAMMA Investing LLC now owns 8,756 shares of the company’s stock worth $85,000 after purchasing an additional 7,709 shares during the last quarter. Finally, Creative Planning purchased a new position in Sunnova Energy International during the 3rd quarter valued at $107,000.

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.