Brokerages Set Sunnova Energy International Inc. (NYSE:NOVA) Price Target at $9.60

Sunnova Energy International Inc. (NYSE:NOVA) has earned a consensus recommendation of “Hold” from the twenty-five brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $9.03.

A number of analysts have recently issued reports on the company. Citigroup cut their price objective on Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Guggenheim downgraded Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Royal Bank of Canada downgraded shares of Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a report on Monday, December 9th. Wells Fargo & Company dropped their price objective on shares of Sunnova Energy International from $8.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. Finally, Susquehanna downgraded shares of Sunnova Energy International from a “positive” rating to a “neutral” rating and reduced their target price for the stock from $14.00 to $4.50 in a report on Friday, January 10th.

Sunnova Energy International Trading Down 9.4 %

Shares of NYSE:NOVA opened at $2.07 on Wednesday. Sunnova Energy International has a 52-week low of $2.00 and a 52-week high of $13.00. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $258.03 million, a P/E ratio of -0.62 and a beta of 2.28. The company has a 50-day simple moving average of $3.52 and a 200 day simple moving average of $6.18.

Insider Activity at Sunnova Energy International

In other news, Director Akbar Mohamed bought 50,000 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were purchased at an average cost of $3.64 per share, with a total value of $182,000.00. Following the acquisition, the director now directly owns 352,654 shares in the company, valued at $1,283,660.56. This represents a 16.52 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Eric Michael Williams purchased 13,800 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were 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 owns 13,800 shares in the company, valued at $49,680. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 118,517 shares of company stock valued at $439,605 over the last quarter. 4.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sunnova Energy International

A number of large investors have recently modified their holdings of NOVA. Sei Investments Co. lifted its position in shares of Sunnova Energy International by 9.8% during the 2nd quarter. Sei Investments Co. now owns 68,846 shares of the company’s stock worth $384,000 after buying an additional 6,117 shares during the last quarter. AQR Capital Management LLC raised its stake in Sunnova Energy International by 362.3% during the second quarter. AQR Capital Management LLC now owns 104,419 shares of the company’s stock worth $583,000 after acquiring an additional 81,830 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Sunnova Energy International by 6.7% in 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 last quarter. GAMMA Investing LLC boosted its stake in shares of Sunnova Energy International by 736.3% in the 3rd quarter. GAMMA Investing LLC now owns 8,756 shares of the company’s stock valued at $85,000 after purchasing an additional 7,709 shares in the last quarter. Finally, Diversified Trust Co bought a new stake in shares of Sunnova Energy International during the 3rd quarter valued at approximately $203,000.

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.