Jefferies Financial Group Downgrades Sunnova Energy International (NYSE:NOVA) to Hold

Jefferies Financial Group cut shares of Sunnova Energy International (NYSE:NOVA) from a buy rating to a hold rating in a research note issued to investors on Friday morning, MarketBeat.com reports. They currently have $2.00 target price on the stock, down from their previous target price of $9.00.

NOVA has been the topic of a number of other reports. JPMorgan Chase & Co. dropped their price target on Sunnova Energy International from $14.00 to $11.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Susquehanna cut Sunnova Energy International from a “positive” rating to a “neutral” rating and cut their target price for the stock from $14.00 to $4.50 in a research note on Friday, January 10th. Barclays reduced their price target on Sunnova Energy International from $10.00 to $9.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. BMO Capital Markets reissued a “market perform” rating and set a $8.00 price objective (down from $10.00) on shares of Sunnova Energy International in a research report on Friday, November 1st. Finally, Royal Bank of Canada lowered shares of Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Sunnova Energy International currently has an average rating of “Hold” and an average target price of $9.03.

Sunnova Energy International Trading Down 9.6 %

NYSE:NOVA opened at $2.23 on Friday. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86. Sunnova Energy International has a one year low of $2.21 and a one year high of $13.00. The company’s 50-day simple moving average is $3.65 and its 200 day simple moving average is $6.27.

Insider Transactions at Sunnova Energy International

In related news, Director Akbar Mohamed acquired 54,717 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were purchased at an average price of $3.80 per share, with a total value of $207,924.60. Following the completion of the purchase, the director now directly owns 302,654 shares of the company’s stock, valued at $1,150,085.20. This represents a 22.07 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Eric Michael Williams bought 13,800 shares of Sunnova Energy International 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 completion of the acquisition, the chief financial officer now directly owns 13,800 shares in the company, valued at $49,680. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 118,517 shares of company stock worth $439,605 in the last 90 days. 4.50% of the stock is currently owned by insiders.

Institutional Trading of Sunnova Energy International

Several institutional investors and hedge funds have recently modified their holdings of the company. DRW Securities LLC bought a new stake in Sunnova Energy International during the third quarter valued at about $989,000. Erste Asset Management GmbH bought a new position in Sunnova Energy International in the 3rd quarter worth approximately $76,550,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Sunnova Energy International by 190.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 744,686 shares of the company’s stock valued at $7,253,000 after buying an additional 488,623 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Sunnova Energy International by 17.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 901,433 shares of the company’s stock valued at $8,780,000 after buying an additional 134,065 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position 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.

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.