Sunnova Energy International (NYSE:NOVA) PT Lowered to $9.00 at Truist Financial

Sunnova Energy International (NYSE:NOVA) had its target price dropped by stock analysts at Truist Financial from $16.00 to $9.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price points to a potential upside of 107.37% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Mizuho decreased their price target on shares of Sunnova Energy International from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Scotiabank decreased their price target on shares of Sunnova Energy International from $20.00 to $10.00 and set a “sector outperform” rating for the company in a research note on Monday. Evercore ISI decreased their price target on shares of Sunnova Energy International from $29.00 to $26.00 and set an “outperform” rating for the company in a research note on Friday, February 23rd. Wells Fargo & Company reissued an “equal weight” rating and issued a $6.00 target price (down from $11.00) on shares of Sunnova Energy International in a research note on Friday, April 19th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $14.00 target price (down from $24.00) on shares of Sunnova Energy International in a research note on Monday, March 4th. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Sunnova Energy International has an average rating of “Moderate Buy” and a consensus target price of $17.86.

Sunnova Energy International Price Performance

NYSE NOVA opened at $4.34 on Tuesday. The business has a 50 day simple moving average of $5.49 and a 200 day simple moving average of $9.27. Sunnova Energy International has a 52-week low of $3.52 and a 52-week high of $24.56. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap of $537.47 million, a price-to-earnings ratio of -1.24 and a beta of 2.08.

Sunnova Energy International (NYSE:NOVA) last posted its earnings results on Wednesday, February 21st. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.04. Sunnova Energy International had a negative return on equity of 13.26% and a negative net margin of 58.00%. The business had revenue of $194.18 million during the quarter, compared to analysts’ expectations of $226.09 million. Analysts anticipate that Sunnova Energy International will post -2.37 earnings per share for the current fiscal year.

Insider Transactions at Sunnova Energy International

In other news, insider Paul S. Mathews sold 9,500 shares of Sunnova Energy International stock in a transaction on 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 owns 14,007 shares of the company’s stock, valued at $74,377.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Paul S. Mathews sold 9,500 shares of Sunnova Energy International stock in a transaction on 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 owns 14,007 shares of the company’s stock, valued at $74,377.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Akbar Mohamed bought 152,450 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were purchased at an average cost of $6.92 per share, with a total value of $1,054,954.00. Following the acquisition, the director now directly owns 236,139 shares of the company’s stock, valued at approximately $1,634,081.88. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 23,580 shares of company stock valued at $137,382. 4.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Manchester Capital Management LLC raised its stake in Sunnova Energy International by 2,959.7% in the fourth quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock valued at $29,000 after purchasing an additional 1,835 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Sunnova Energy International in the first quarter valued at about $25,000. Allspring Global Investments Holdings LLC raised its stake in Sunnova Energy International by 158.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,036 shares of the company’s stock valued at $74,000 after purchasing an additional 4,310 shares in the last quarter. Headlands Technologies LLC acquired a new position in Sunnova Energy International in the fourth quarter valued at about $157,000. Finally, Ballentine Partners LLC acquired a new position in Sunnova Energy International in the fourth quarter valued at about $161,000.

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.