Sunnova Energy International (NYSE:NOVA) PT Lowered to $6.00 at BMO Capital Markets

Sunnova Energy International (NYSE:NOVA) had its price objective cut by BMO Capital Markets from $10.00 to $6.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a market perform rating on the stock.

Several other brokerages have also commented on NOVA. Susquehanna decreased their price objective on shares of Sunnova Energy International from $20.00 to $12.00 and set a positive rating for the company in a research report on Friday, April 5th. KeyCorp lowered shares of Sunnova Energy International from an overweight rating to a sector weight rating in a report on Tuesday, April 23rd. Northland Securities restated a market perform rating and issued a $9.00 target price (down previously from $12.00) on shares of Sunnova Energy International in a research note on Friday, February 23rd. Truist Financial cut their price objective on Sunnova Energy International from $16.00 to $9.00 and set a buy rating on the stock in a report on Tuesday, April 30th. Finally, B. Riley decreased their target price on Sunnova Energy International from $21.00 to $15.00 and set a buy rating for the company in a report on Monday, April 22nd. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $16.71.

Sunnova Energy International Stock Down 2.5 %

Shares of NYSE NOVA traded down $0.12 during trading hours on Friday, hitting $4.67. 6,384,788 shares of the stock were exchanged, compared to its average volume of 9,362,332. Sunnova Energy International has a 12 month low of $3.37 and a 12 month high of $24.56. The firm has a fifty day moving average price of $5.05 and a 200-day moving average price of $9.09. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 3.41. The company has a market cap of $578.99 million, a PE ratio of -1.42 and a beta of 2.15.

Sunnova Energy International (NYSE:NOVA) last announced its earnings results on Wednesday, May 1st. The company reported ($0.57) earnings per share for the quarter, topping the consensus estimate of ($0.79) by $0.22. Sunnova Energy International had a negative return on equity of 12.10% and a negative net margin of 56.52%. The firm had revenue of $160.90 million for the quarter, compared to the consensus estimate of $193.78 million. During the same period in the previous year, the business earned ($0.70) EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, sell-side analysts expect that Sunnova Energy International will post -2.39 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of Sunnova Energy International

Large investors have recently added to or reduced their stakes in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Sunnova Energy International during the 1st quarter worth $25,000. Manchester Capital Management LLC increased its position 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 purchasing an additional 1,835 shares during the last quarter. First Trust Direct Indexing L.P. purchased a new position in Sunnova Energy International during the first quarter worth about $66,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Sunnova Energy International by 129.9% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,788 shares of the company’s stock valued at $72,000 after purchasing an additional 6,661 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Sunnova Energy International by 158.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,036 shares of the company’s stock valued at $74,000 after buying an additional 4,310 shares during the period.

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.