Deutsche Bank Aktiengesellschaft Cuts Sunnova Energy International (NYSE:NOVA) Price Target to $6.25

Sunnova Energy International (NYSE:NOVA) had its price target lowered by equities research analysts at Deutsche Bank Aktiengesellschaft from $9.00 to $6.25 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 0.64% from the company’s previous close.

A number of other equities analysts have also commented on NOVA. BMO Capital Markets raised their price objective on Sunnova Energy International from $9.00 to $10.00 and gave the stock a “market perform” rating in a research note on Monday, October 14th. Morgan Stanley boosted their target price on shares of Sunnova Energy International from $11.00 to $13.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 21st. Jefferies Financial Group started coverage on shares of Sunnova Energy International in a research note on Thursday, October 10th. They issued a “buy” rating and a $15.00 price objective on the stock. Royal Bank of Canada upped their target price on Sunnova Energy International from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, The Goldman Sachs Group lifted their price target 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. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sunnova Energy International currently has a consensus rating of “Moderate Buy” and an average target price of $11.71.

Sunnova Energy International Stock Up 2.3 %

Shares of Sunnova Energy International stock traded up $0.14 during trading on Friday, reaching $6.21. The stock had a trading volume of 1,110,209 shares, compared to its average volume of 7,725,822. Sunnova Energy International has a 52 week low of $3.37 and a 52 week high of $16.35. The stock has a fifty day moving average price of $8.80 and a two-hundred day moving average price of $6.85. The company has a market capitalization of $775.38 million, a price-to-earnings ratio of -1.82 and a beta of 2.21. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 3.11.

Sunnova Energy International (NYSE:NOVA) last announced 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 net margin of 51.02% and a negative return on equity of 11.46%. The business had revenue of $235.30 million for the quarter, compared to analyst estimates of $238.23 million. During the same period in the prior year, the business earned ($0.53) EPS. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. Sell-side analysts predict that Sunnova Energy International will post -1.99 EPS for the current fiscal year.

Insider Activity at Sunnova Energy International

In related news, insider William J. Berger sold 77,000 shares of Sunnova Energy International stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $11.31, for a total transaction of $870,870.00. Following the sale, the insider now directly owns 409,045 shares in the company, valued at approximately $4,626,298.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Sunnova Energy International

Several hedge funds have recently made changes to their positions in the stock. Handelsbanken Fonder AB increased its position in shares of 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 buying an additional 611,452 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Sunnova Energy International by 23.4% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 357,781 shares of the company’s stock valued at $1,996,000 after purchasing an additional 67,749 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in shares of Sunnova Energy International during the 2nd quarter valued at $1,042,000. Sylebra Capital LLC bought a new position in shares of Sunnova Energy International in the second quarter worth $30,783,000. Finally, Vanguard Group Inc. raised its position in shares of Sunnova Energy International by 0.8% in the first quarter. Vanguard Group Inc. now owns 10,568,045 shares of the company’s stock worth $64,782,000 after buying an additional 81,653 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.