Sunnova Energy International (NYSE:NOVA) Price Target Cut to $9.00 by Analysts at Barclays

Sunnova Energy International (NYSE:NOVA) had its target price cut by analysts at Barclays from $10.00 to $9.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 219.72% from the stock’s previous close.

A number of other research analysts also recently weighed in on the stock. TD Cowen started coverage on shares of Sunnova Energy International in a report on Thursday, December 19th. They set a “hold” rating and a $5.00 price target on the stock. BNP Paribas downgraded shares of Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 target price on the stock. in a report on Friday, November 8th. Morgan Stanley dropped their target price on shares of Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating on the stock in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Sunnova Energy International from $9.00 to $6.25 and set a “hold” rating on the stock in a report on Friday, November 1st. Finally, Piper Sandler dropped their target price on shares of Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating on the stock in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $9.60.

Sunnova Energy International Trading Up 3.5 %

Shares of NYSE:NOVA opened at $2.82 on Wednesday. The firm has a fifty day moving average of $3.96 and a two-hundred day moving average of $6.46. The firm has a market capitalization of $351.74 million, a P/E ratio of -0.84 and a beta of 2.29. Sunnova Energy International has a 12-month low of $2.64 and a 12-month high of $13.00. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26.

Sunnova Energy International (NYSE:NOVA) last released 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). The business had revenue of $235.30 million for the quarter, compared to the consensus estimate of $238.23 million. Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.53) EPS. On average, equities analysts expect that Sunnova Energy International will post -2.57 EPS for the current fiscal year.

Insider Activity

In related news, Director Akbar Mohamed acquired 50,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were bought at an average cost of $3.64 per share, with a total value of $182,000.00. Following the completion of the transaction, the director now directly owns 352,654 shares of the company’s stock, valued at $1,283,660.56. This trade represents a 16.52 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Eric Michael Williams acquired 13,800 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was bought at an average cost of $3.60 per share, for a total transaction of $49,680.00. Following the completion of the transaction, the chief financial officer now directly owns 13,800 shares of the company’s stock, valued at approximately $49,680. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 118,517 shares of company stock worth $439,605 over the last quarter. 4.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sunnova Energy International

Large investors have recently modified their holdings of the stock. First Trust Direct Indexing L.P. increased its position in 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 worth $189,000 after acquiring an additional 2,016 shares during the period. Ballentine Partners LLC increased its position in Sunnova Energy International by 15.9% during the third quarter. Ballentine Partners LLC now owns 21,515 shares of the company’s stock worth $210,000 after acquiring an additional 2,956 shares during the period. International Assets Investment Management LLC increased its position in 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 worth $308,000 after acquiring an additional 2,992 shares during the period. Peapack Gladstone Financial Corp increased its position in Sunnova Energy International by 11.0% during the third quarter. Peapack Gladstone Financial Corp now owns 32,200 shares of the company’s stock worth $314,000 after acquiring an additional 3,200 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Sunnova Energy International by 6.7% during the second quarter. The Manufacturers Life Insurance Company now owns 56,487 shares of the company’s stock worth $315,000 after acquiring an additional 3,559 shares during the period.

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.