Piper Sandler Lowers Sunnova Energy International (NYSE:NOVA) Price Target to $4.50

Sunnova Energy International (NYSE:NOVA) had its price target decreased by Piper Sandler from $8.00 to $4.50 in a research report released on Friday,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

NOVA has been the subject of a number of other reports. Barclays cut their price objective on Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Wells Fargo & Company upped their price target on shares of Sunnova Energy International from $6.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 6th. Truist Financial raised their price objective on shares of Sunnova Energy International from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Wolfe Research downgraded shares of Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. Finally, The Goldman Sachs Group raised their price target on Sunnova Energy International from $10.00 to $13.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.73.

Sunnova Energy International Stock Up 12.1 %

Shares of NOVA stock opened at $4.90 on Friday. The company has a 50 day simple moving average of $6.66 and a two-hundred day simple moving average of $6.91. The stock has a market cap of $612.27 million, a P/E ratio of -1.46 and a beta of 2.26. Sunnova Energy International has a 12 month low of $2.99 and a 12 month high of $16.35. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26.

Sunnova Energy International (NYSE:NOVA) last announced its earnings results on Wednesday, October 30th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.45). Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The company had revenue of $235.30 million during the quarter, compared to the consensus estimate of $238.23 million. During the same period in the prior year, the business posted ($0.53) earnings per share. Sunnova Energy International’s revenue for the quarter was up 18.6% compared to the same quarter last year. On average, research analysts expect that Sunnova Energy International will post -2.29 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Sunnova Energy International

Several hedge funds and other institutional investors have recently made changes to their positions in the company. First Affirmative Financial Network grew its holdings in Sunnova Energy International by 12.9% during the 2nd quarter. First Affirmative Financial Network now owns 14,829 shares of the company’s stock valued at $83,000 after purchasing an additional 1,691 shares during the last quarter. First Trust Direct Indexing L.P. boosted its position in shares of Sunnova Energy International by 11.6% during the third quarter. First Trust Direct Indexing L.P. now owns 19,373 shares of the company’s stock valued at $189,000 after buying an additional 2,016 shares during the period. Ballentine Partners LLC boosted its position in shares of Sunnova Energy International by 15.9% during the third quarter. Ballentine Partners LLC now owns 21,515 shares of the company’s stock valued at $210,000 after buying an additional 2,956 shares during the period. International Assets Investment Management LLC grew its stake in shares of Sunnova Energy International by 37,400.0% during the third quarter. International Assets Investment Management LLC now owns 3,000 shares of the company’s stock valued at $308,000 after buying an additional 2,992 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Sunnova Energy International by 6.7% in the second quarter. The Manufacturers Life Insurance Company now owns 56,487 shares of the company’s stock worth $315,000 after buying an additional 3,559 shares during the period.

Sunnova Energy International Company Profile

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.