Sunnova Energy International (NYSE:NOVA) Price Target Cut to $9.00 by Analysts at Robert W. Baird

Sunnova Energy International (NYSE:NOVA) had its price target dropped by equities research analysts at Robert W. Baird from $12.00 to $9.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 114.03% from the stock’s current price.

Several other equities analysts also recently commented on NOVA. BNP Paribas downgraded shares of Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 price objective on the stock. in a report on Friday, November 8th. Morgan Stanley decreased their price target on shares of Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Friday, November 15th. Jefferies Financial Group started coverage on shares of Sunnova Energy International in a research report on Thursday, October 10th. They set a “buy” rating and a $15.00 price objective for the company. The Goldman Sachs Group reduced their price objective on Sunnova Energy International from $12.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Royal Bank of Canada lowered Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $10.49.

Sunnova Energy International Stock Up 5.1 %

Sunnova Energy International stock opened at $4.21 on Wednesday. Sunnova Energy International has a fifty-two week low of $2.99 and a fifty-two week high of $16.35. The firm has a market capitalization of $525.41 million, a PE ratio of -1.26 and a beta of 2.22. The company’s 50-day moving average is $4.94 and its 200-day moving average is $6.94. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings data 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 net margin of 51.02% and a negative return on equity of 11.15%. The business had revenue of $235.30 million during the quarter, compared to the consensus estimate of $238.23 million. During the same quarter in the prior year, the company earned ($0.53) EPS. Sunnova Energy International’s quarterly revenue was up 18.6% on a year-over-year basis. Sell-side analysts anticipate that Sunnova Energy International will post -2.44 earnings per share for the current year.

Insider Activity at Sunnova Energy International

In other news, CFO Eric Michael Williams bought 13,800 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average cost of $3.60 per share, with a total value of $49,680.00. Following the transaction, the chief financial officer now directly owns 13,800 shares of the company’s stock, valued at approximately $49,680. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Akbar Mohamed purchased 54,717 shares of the business’s stock in a transaction on Friday, November 15th. The stock was purchased at an average price of $3.80 per share, for a total transaction of $207,924.60. Following the acquisition, the director now owns 302,654 shares of the company’s stock, valued at approximately $1,150,085.20. This represents a 22.07 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 118,517 shares of company stock worth $439,605 in the last 90 days. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Sunnova Energy International

A number of large investors have recently modified their holdings of the company. SG Americas Securities LLC lifted its position in Sunnova Energy International by 55.8% in the 2nd quarter. SG Americas Securities LLC now owns 54,783 shares of the company’s stock valued at $306,000 after acquiring an additional 19,615 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Sunnova Energy International by 87,558.3% in the second quarter. Nisa Investment Advisors LLC now owns 105,190 shares of the company’s stock valued at $587,000 after purchasing an additional 105,070 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Sunnova Energy International by 13.9% in the second quarter. Bank of New York Mellon Corp now owns 394,812 shares of the company’s stock valued at $2,203,000 after purchasing an additional 48,119 shares in the last quarter. Presidio Capital Management LLC purchased a new position in shares of Sunnova Energy International during the second quarter valued at approximately $67,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in Sunnova Energy International by 136.6% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 237,203 shares of the company’s stock worth $1,324,000 after buying an additional 136,968 shares in the last quarter.

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.