Sunnova Energy International (NYSE:NOVA) Downgraded by Susquehanna to “Neutral”

Susquehanna downgraded shares of Sunnova Energy International (NYSE:NOVA) from a positive rating to a neutral rating in a research report sent to investors on Friday, MarketBeat.com reports. Susquehanna currently has $4.50 target price on the stock, down from their previous target price of $14.00.

Several other equities analysts have also weighed in on NOVA. The Goldman Sachs Group cut their target price on shares of Sunnova Energy International from $12.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, December 17th. Guggenheim cut shares of Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Barclays lowered their target price on shares of Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. BNP Paribas lowered Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 price target for the company. in a research note on Friday, November 8th. Finally, Morgan Stanley lowered their price target on Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Sunnova Energy International currently has an average rating of “Hold” and a consensus price target of $9.58.

Sunnova Energy International Price Performance

NYSE:NOVA opened at $3.43 on Friday. The firm’s fifty day moving average is $4.21 and its two-hundred day moving average is $6.72. The firm has a market cap of $428.59 million, a price-to-earnings ratio of -1.02 and a beta of 2.29. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86. Sunnova Energy International has a one year low of $2.99 and a one year high of $13.00.

Sunnova Energy International (NYSE:NOVA) last posted its earnings results on Wednesday, October 30th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $238.23 million. During the same period last year, the business earned ($0.53) earnings per share. The firm’s revenue was up 18.6% on a year-over-year basis. Research analysts expect that Sunnova Energy International will post -2.44 EPS for the current year.

Insider Activity at Sunnova Energy International

In related news, Director Akbar Mohamed purchased 54,717 shares of Sunnova Energy International stock in a transaction dated 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 acquisition, the director now directly owns 302,654 shares in the company, valued at approximately $1,150,085.20. The trade was a 22.07 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Eric Michael Williams acquired 13,800 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average cost of $3.60 per share, with a total value of $49,680.00. Following the acquisition, the chief financial officer now directly owns 13,800 shares of the company’s stock, valued at $49,680. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 118,517 shares of company stock valued at $439,605. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Sunnova Energy International

Several institutional investors and hedge funds have recently bought and sold shares of NOVA. Erste Asset Management GmbH acquired a new stake in shares of Sunnova Energy International during the 3rd quarter worth approximately $76,550,000. Sylebra Capital LLC grew its position in Sunnova Energy International by 125.6% in the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock worth $121,195,000 after acquiring an additional 6,926,399 shares during the period. Handelsbanken Fonder AB increased its stake in Sunnova Energy International by 9.1% during the third quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock worth $71,097,000 after acquiring an additional 611,452 shares during the last quarter. Electron Capital Partners LLC raised its position in Sunnova Energy International by 24.5% in the second quarter. Electron Capital Partners LLC now owns 3,004,938 shares of the company’s stock valued at $16,768,000 after purchasing an additional 591,514 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in shares of Sunnova Energy International in the 2nd quarter valued at $2,851,000.

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.