Sunnova Energy International (NYSE:NOVA) Given New $17.00 Price Target at Mizuho

Sunnova Energy International (NYSE:NOVA) had its price target dropped by equities researchers at Mizuho from $21.00 to $17.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Mizuho’s price objective indicates a potential upside of 347.37% from the stock’s previous close.

Several other equities research analysts have also issued reports on NOVA. Truist Financial reaffirmed a “buy” rating and set a $16.00 price target (down from $18.00) on shares of Sunnova Energy International in a report on Monday, February 26th. Susquehanna cut their target price on shares of Sunnova Energy International from $20.00 to $12.00 and set a “positive” rating on the stock in a research report on Friday, April 5th. Janney Montgomery Scott upgraded shares of Sunnova Energy International from a “neutral” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Friday, March 22nd. Morgan Stanley restated an “equal weight” rating and issued a $14.00 target price (down previously from $24.00) on shares of Sunnova Energy International in a research report on Monday, March 4th. Finally, Evercore ISI cut their target price on shares of Sunnova Energy International from $29.00 to $26.00 and set an “outperform” rating on the stock in a research report on Friday, February 23rd. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.73.

Sunnova Energy International Price Performance

Shares of NOVA stock traded up $0.02 during trading hours on Friday, reaching $3.80. The company’s stock had a trading volume of 6,059,802 shares, compared to its average volume of 9,163,806. Sunnova Energy International has a fifty-two week low of $3.52 and a fifty-two week high of $24.56. The firm’s 50 day simple moving average is $6.56 and its 200-day simple moving average is $9.55. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.58. The company has a market capitalization of $470.59 million, a price-to-earnings ratio of -1.10 and a beta of 2.08.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings data on Wednesday, February 21st. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.04. The business had revenue of $194.18 million for the quarter, compared to analyst estimates of $226.09 million. Sunnova Energy International had a negative return on equity of 13.26% and a negative net margin of 58.00%. Sell-side analysts forecast that Sunnova Energy International will post -2.28 earnings per share for the current year.

Insider Transactions at Sunnova Energy International

In other news, insider Paul S. Mathews sold 9,500 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $5.31, for a total transaction of $50,445.00. Following the completion of the sale, the insider now directly owns 14,007 shares of the company’s stock, valued at $74,377.17. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Akbar Mohamed acquired 152,450 shares of Sunnova Energy International stock in a transaction on Wednesday, February 28th. The stock was acquired at an average cost of $6.92 per share, with a total value of $1,054,954.00. Following the transaction, the director now owns 236,139 shares of the company’s stock, valued at approximately $1,634,081.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul S. Mathews sold 9,500 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $5.31, for a total transaction of $50,445.00. Following the completion of the sale, the insider now directly owns 14,007 shares of the company’s stock, valued at $74,377.17. The disclosure for this sale can be found here. Insiders sold a total of 23,580 shares of company stock valued at $137,382 over the last three months. Corporate insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Sunnova Energy International

A number of institutional investors have recently added to or reduced their stakes in NOVA. Advisor Group Holdings Inc. grew its position in Sunnova Energy International by 23.4% in the 1st quarter. Advisor Group Holdings Inc. now owns 4,788 shares of the company’s stock worth $387,000 after purchasing an additional 907 shares in the last quarter. Raymond James & Associates boosted its stake in Sunnova Energy International by 185.3% in the first quarter. Raymond James & Associates now owns 41,819 shares of the company’s stock valued at $964,000 after acquiring an additional 27,160 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Sunnova Energy International by 199.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 47,501 shares of the company’s stock valued at $1,095,000 after acquiring an additional 31,646 shares during the last quarter. US Bancorp DE boosted its stake in Sunnova Energy International by 168.8% in the first quarter. US Bancorp DE now owns 2,809 shares of the company’s stock valued at $65,000 after acquiring an additional 1,764 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its stake in Sunnova Energy International by 53.6% in the first quarter. MetLife Investment Management LLC now owns 47,065 shares of the company’s stock valued at $1,085,000 after acquiring an additional 16,426 shares during 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.