Sunnova Energy International (NYSE:NOVA) Sets New 12-Month Low on Analyst Downgrade

Sunnova Energy International Inc. (NYSE:NOVA)’s share price reached a new 52-week low during trading on Friday after Mizuho lowered their price target on the stock from $21.00 to $17.00. Mizuho currently has a buy rating on the stock. Sunnova Energy International traded as low as $3.52 and last traded at $4.04, with a volume of 4812215 shares traded. The stock had previously closed at $3.78.

A number of other equities analysts also recently commented on NOVA. B. Riley cut their target price on shares of Sunnova Energy International from $25.00 to $21.00 and set a “buy” rating on the stock in a research note on Monday, February 5th. Morgan Stanley reiterated an “equal weight” rating and issued a $14.00 price target (down previously from $24.00) on shares of Sunnova Energy International in a research note on Monday, March 4th. Wells Fargo & Company restated an “equal weight” rating and set a $6.00 price objective (down previously from $11.00) on shares of Sunnova Energy International in a research note on Friday. The Goldman Sachs Group cut their target price on Sunnova Energy International from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, April 11th. Finally, Janney Montgomery Scott raised shares of Sunnova Energy International from a “neutral” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Friday, March 22nd. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.73.

Insiders Place Their Bets

In other news, insider Paul S. Mathews sold 9,500 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $5.31, for a total value 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Akbar Mohamed purchased 152,450 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were acquired at an average cost of $6.92 per share, with a total value of $1,054,954.00. Following the completion of the purchase, the director now owns 236,139 shares of the company’s stock, valued at approximately $1,634,081.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul S. Mathews sold 9,500 shares of Sunnova Energy International stock in a transaction on Monday, March 11th. The shares were sold at an average price of $5.31, for a total value of $50,445.00. Following the sale, the insider now directly owns 14,007 shares of the company’s stock, valued at approximately $74,377.17. The disclosure for this sale can be found here. Insiders sold a total of 23,580 shares of company stock worth $137,382 over the last ninety days. 4.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sunnova Energy International

Several institutional investors have recently made changes to their positions in NOVA. Captrust Financial Advisors lifted its holdings in Sunnova Energy International by 236.4% in the 1st quarter. Captrust Financial Advisors now owns 1,487 shares of the company’s stock worth $34,000 after purchasing an additional 1,045 shares during the last quarter. Manchester Capital Management LLC grew its position in shares of 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 during the last quarter. Quarry LP bought a new position in shares of Sunnova Energy International in the first quarter worth about $36,000. Steward Partners Investment Advisory LLC lifted its position in shares of Sunnova Energy International by 108.9% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 2,302 shares of the company’s stock worth $36,000 after purchasing an additional 1,200 shares during the last quarter. Finally, US Bancorp DE boosted its stake in Sunnova Energy International by 168.8% during the 1st quarter. US Bancorp DE now owns 2,809 shares of the company’s stock valued at $65,000 after purchasing an additional 1,764 shares during the period.

Sunnova Energy International Price Performance

The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.58. The stock has a fifty day simple moving average of $6.56 and a 200-day simple moving average of $9.55. The stock has a market cap of $466.88 million, a price-to-earnings ratio of -1.10 and a beta of 2.08.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings data on Wednesday, February 21st. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.04. The company had revenue of $194.18 million during the quarter, compared to analysts’ expectations of $226.09 million. Sunnova Energy International had a negative return on equity of 13.26% and a negative net margin of 58.00%. As a group, equities research analysts expect that Sunnova Energy International Inc. will post -2.28 EPS for the current year.

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.