Sunnova Energy International (NYSE:NOVA) Downgraded to Sector Weight at KeyCorp

Sunnova Energy International (NYSE:NOVA) was downgraded by stock analysts at KeyCorp from an “overweight” rating to a “sector weight” rating in a report issued on Tuesday, MarketBeat Ratings reports.

Several other research firms have also recently weighed in on NOVA. Truist Financial restated a “buy” rating and set a $16.00 price objective (down previously from $18.00) on shares of Sunnova Energy International in a research report on Monday, February 26th. Janney Montgomery Scott upgraded shares of Sunnova Energy International from a “neutral” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Friday, March 22nd. Northland Securities restated a “market perform” rating and set a $9.00 price objective (down previously from $12.00) on shares of Sunnova Energy International in a research report on Friday, February 23rd. Mizuho lowered their price objective on shares of Sunnova Energy International from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Morgan Stanley restated an “equal weight” rating and set a $14.00 price objective (down previously from $24.00) on shares of Sunnova Energy International in a research report on Monday, March 4th. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.48.

Sunnova Energy International Stock Up 0.4 %

Shares of NYSE:NOVA opened at $3.82 on Tuesday. The firm has a fifty day moving average price of $6.23 and a two-hundred day moving average price of $9.47. The company has a debt-to-equity ratio of 3.58, a current ratio of 0.85 and a quick ratio of 0.85. Sunnova Energy International has a one year low of $3.52 and a one year high of $24.56. The company has a market cap of $472.45 million, a price-to-earnings ratio of -1.09 and a beta of 2.08.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings results on Wednesday, February 21st. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.04. Sunnova Energy International had a negative net margin of 58.00% and a negative return on equity of 13.26%. The firm had revenue of $194.18 million during the quarter, compared to the consensus estimate of $226.09 million. Analysts anticipate that Sunnova Energy International will post -2.28 EPS for the current fiscal year.

Insider Activity

In related news, Director Akbar Mohamed bought 152,450 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were purchased at an average price of $6.92 per share, with a total value of $1,054,954.00. Following 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 SEC, which is available through the SEC website. In related news, Director Akbar Mohamed bought 152,450 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were purchased at an average price of $6.92 per share, with a total value of $1,054,954.00. Following 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 SEC, which is available through the SEC website. Also, insider Jack O. Lynch III sold 12,994 shares of Sunnova Energy International stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $6.21, for a total transaction of $80,692.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,580 shares of company stock valued at $137,382. Corporate insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Sunnova Energy International

Hedge funds have recently bought and sold shares of the business. Manchester Capital Management LLC boosted its stake in Sunnova Energy International by 2,959.7% during the fourth quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock worth $29,000 after acquiring an additional 1,835 shares in the last quarter. First Trust Direct Indexing L.P. bought a new stake in Sunnova Energy International during the first quarter worth about $66,000. Allspring Global Investments Holdings LLC boosted its stake in Sunnova Energy International by 158.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,036 shares of the company’s stock worth $74,000 after acquiring an additional 4,310 shares in the last quarter. NewEdge Wealth LLC purchased a new position in Sunnova Energy International in the third quarter worth about $125,000. Finally, Principal Financial Group Inc. raised its holdings in Sunnova Energy International by 14.0% in the third quarter. Principal Financial Group Inc. now owns 12,893 shares of the company’s stock worth $135,000 after buying an additional 1,584 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.