Citigroup Cuts Sunnova Energy International (NYSE:NOVA) Price Target to $10.00

Sunnova Energy International (NYSE:NOVA) had its price objective trimmed by Citigroup from $12.00 to $10.00 in a research report report published on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts have also recently commented on NOVA. Truist Financial lifted their price objective on shares of Sunnova Energy International from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Guggenheim lifted their price objective on Sunnova Energy International from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, July 26th. The Goldman Sachs Group upped their target price on shares of Sunnova Energy International from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Robert W. Baird increased their price target on Sunnova Energy International from $12.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company raised their price objective on shares of Sunnova Energy International from $6.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 6th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.11.

Sunnova Energy International Trading Up 3.8 %

NOVA opened at $5.21 on Tuesday. The stock has a fifty day moving average price of $9.21 and a 200-day moving average price of $6.83. Sunnova Energy International has a 12 month low of $3.37 and a 12 month high of $16.35. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 3.11. The firm has a market cap of $650.52 million, a price-to-earnings ratio of -1.80 and a beta of 2.21.

Sunnova Energy International (NYSE:NOVA) last announced its earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.27. The company had revenue of $219.60 million for the quarter, compared to analyst estimates of $220.38 million. Sunnova Energy International had a negative return on equity of 8.85% and a negative net margin of 45.76%. The firm’s quarterly revenue was up 32.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.74) EPS. As a group, equities research analysts anticipate that Sunnova Energy International will post -1.99 earnings per share for the current fiscal year.

Insider Activity at Sunnova Energy International

In other news, insider William J. Berger sold 77,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $11.31, for a total transaction of $870,870.00. Following the completion of the transaction, the insider now directly owns 409,045 shares of the company’s stock, valued at approximately $4,626,298.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sunnova Energy International

A number of institutional investors and hedge funds have recently bought and sold shares of NOVA. PFG Investments LLC acquired a new stake in Sunnova Energy International during the 3rd quarter worth $130,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Sunnova Energy International during the third quarter worth approximately $260,000. Ballentine Partners LLC lifted its holdings in shares of Sunnova Energy International by 15.9% during the third quarter. Ballentine Partners LLC now owns 21,515 shares of the company’s stock worth $210,000 after purchasing an additional 2,956 shares during the period. International Assets Investment Management LLC grew its position in Sunnova Energy International by 37,400.0% in the 3rd 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. Finally, Jade Capital Advisors LLC acquired a new position in Sunnova Energy International in the 3rd quarter valued at $195,000.

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.