Sunnova Energy International (NYSE:NOVA) Given New $4.00 Price Target at Wells Fargo & Company

Sunnova Energy International (NYSE:NOVA) had its price objective decreased by Wells Fargo & Company from $8.00 to $4.00 in a research note released on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other analysts also recently commented on NOVA. Barclays decreased their price target on Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. TD Cowen began coverage on Sunnova Energy International in a research report on Thursday, December 19th. They set a “hold” rating and a $5.00 price target for the company. BNP Paribas downgraded Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 price target for the company. in a research report on Friday, November 8th. The Goldman Sachs Group decreased their price target on Sunnova Energy International from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, December 17th. Finally, Morgan Stanley decreased their target price on 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. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Sunnova Energy International currently has an average rating of “Hold” and an average price target of $10.01.

Sunnova Energy International Stock Performance

Shares of NOVA opened at $3.92 on Wednesday. Sunnova Energy International has a one year low of $2.99 and a one year high of $13.08. The company has a market cap of $489.82 million, a PE ratio of -1.17 and a beta of 2.29. The stock has a 50-day moving average of $4.30 and a 200-day moving average of $6.75. 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 for the quarter, missing the consensus estimate of ($0.53) by ($0.45). The business had revenue of $235.30 million for the quarter, compared to analyst estimates of $238.23 million. Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The business’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.53) EPS. On average, equities research analysts predict that Sunnova Energy International will post -2.44 EPS for the current fiscal year.

Insider Activity at Sunnova Energy International

In other news, Director Akbar Mohamed purchased 54,717 shares of the stock in a transaction on Friday, November 15th. The shares were acquired at an average price of $3.80 per share, for a total transaction of $207,924.60. Following the completion of the transaction, the director now directly owns 302,654 shares of the company’s stock, valued at approximately $1,150,085.20. This trade represents a 22.07 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CFO Eric Michael Williams purchased 13,800 shares of the stock in a transaction on Monday, November 18th. The shares were purchased at an average price of $3.60 per share, for a total transaction 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 ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 118,517 shares of company stock valued at $439,605. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Sunnova Energy International

Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased 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 worth $2,203,000 after buying an additional 48,119 shares during the period. Rhumbline Advisers increased its holdings in shares of Sunnova Energy International by 17.4% in the second quarter. Rhumbline Advisers now owns 222,074 shares of the company’s stock worth $1,239,000 after buying an additional 32,858 shares during the period. Ballentine Partners LLC increased its holdings in shares of Sunnova Energy International by 72.2% in the second quarter. Ballentine Partners LLC now owns 18,559 shares of the company’s stock worth $104,000 after buying an additional 7,783 shares during the period. American Century Companies Inc. increased its holdings in shares of Sunnova Energy International by 14.2% in the second quarter. American Century Companies Inc. now owns 173,283 shares of the company’s stock worth $967,000 after buying an additional 21,492 shares during the period. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of Sunnova Energy International in the second quarter worth about $78,000.

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.