Barclays Cuts Sunnova Energy International (NYSE:NOVA) Price Target to $9.00

Sunnova Energy International (NYSE:NOVA) had its price objective lowered by equities researchers at Barclays from $10.00 to $9.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 209.81% from the stock’s previous close.

Several other analysts have also recently commented on NOVA. Wells Fargo & Company decreased their target price on Sunnova Energy International from $8.00 to $4.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. TD Cowen began coverage on Sunnova Energy International in a report on Thursday, December 19th. They set a “hold” rating and a $5.00 target price on the stock. Guggenheim lowered Sunnova Energy International from a “buy” rating to a “neutral” rating in a research note on Thursday, November 7th. BNP Paribas lowered Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 price target on the stock. in a research note on Friday, November 8th. Finally, Robert W. Baird cut their price target on Sunnova Energy International from $12.00 to $9.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $9.60.

Sunnova Energy International Stock Performance

Shares of NYSE:NOVA opened at $2.91 on Wednesday. The business’s fifty day moving average price is $3.99 and its two-hundred day moving average price is $6.49. Sunnova Energy International has a fifty-two week low of $2.64 and a fifty-two week high of $13.00. The stock has a market capitalization of $362.98 million, a price-to-earnings ratio of -0.87 and a beta of 2.29. 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 announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $235.30 million during the quarter, compared to the consensus estimate of $238.23 million. During the same quarter last year, the company earned ($0.53) earnings per share. The business’s revenue was up 18.6% on a year-over-year basis. As a group, analysts predict that Sunnova Energy International will post -2.57 EPS for the current fiscal year.

Insider Transactions at Sunnova Energy International

In other news, Director Akbar Mohamed acquired 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average cost of $3.64 per share, for a total transaction of $182,000.00. Following the completion of the acquisition, the director now owns 352,654 shares in the company, valued at $1,283,660.56. This represents a 16.52 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Eric Michael Williams acquired 13,800 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were purchased at an average price of $3.60 per share, with a total value of $49,680.00. Following the completion of the acquisition, the chief financial officer now owns 13,800 shares of the company’s stock, valued at $49,680. This represents a ∞ 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 valued at $439,605 over the last 90 days. 4.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NOVA. Kempner Capital Management Inc. bought a new position in Sunnova Energy International in the fourth quarter valued at approximately $51,000. PFG Investments LLC grew its stake in Sunnova Energy International by 37.0% in the fourth quarter. PFG Investments LLC now owns 18,345 shares of the company’s stock valued at $63,000 after purchasing an additional 4,955 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Sunnova Energy International in the second quarter valued at approximately $78,000. GAMMA Investing LLC grew 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 valued at $85,000 after purchasing an additional 7,709 shares in the last quarter. Finally, Creative Planning bought a new position in Sunnova Energy International in the third quarter valued at approximately $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.