Sunnova Energy International (NYSE:NOVA) Price Target Cut to $9.00 by Analysts at Barclays

Sunnova Energy International (NYSE:NOVA) had its price objective cut by Barclays from $10.00 to $9.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

NOVA has been the subject of several other reports. Citigroup cut their price target on shares of Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. BMO Capital Markets reissued a “market perform” rating and set a $8.00 price objective (down previously from $10.00) on shares of Sunnova Energy International in a research note on Friday, November 1st. Guggenheim lowered Sunnova Energy International from a “buy” rating to a “neutral” rating in a research note on Thursday, November 7th. Royal Bank of Canada cut Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a report on Monday, December 9th. Finally, Morgan Stanley cut their price objective on Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating for the company in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $9.60.

Sunnova Energy International Stock Performance

NYSE:NOVA opened at $2.73 on Wednesday. The business’s fifty day moving average is $3.96 and its 200 day moving average is $6.46. The firm has a market cap of $340.49 million, a price-to-earnings ratio of -0.81 and a beta of 2.29. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86. Sunnova Energy International has a 52-week low of $2.64 and a 52-week high of $13.00.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.45). The firm had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $238.23 million. Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The company’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.53) earnings per share. Research analysts predict that Sunnova Energy International will post -2.57 EPS for the current year.

Insider Buying and Selling at Sunnova Energy International

In other news, CFO Eric Michael Williams bought 13,800 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were bought at an average cost of $3.60 per share, with a total value of $49,680.00. Following the completion of the purchase, the chief financial officer now directly owns 13,800 shares in the company, valued at $49,680. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Akbar Mohamed purchased 50,000 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were purchased at an average price of $3.64 per share, with a total value of $182,000.00. Following the completion of the acquisition, the director now directly owns 352,654 shares in the company, valued at $1,283,660.56. The trade was a 16.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 118,517 shares of company stock worth $439,605. 4.50% of the stock is currently owned by insiders.

Institutional Trading of Sunnova Energy International

Institutional investors have recently modified their holdings of the company. DRW Securities LLC purchased a new position in Sunnova Energy International during the 3rd quarter valued at $989,000. Erste Asset Management GmbH bought a new stake in shares of Sunnova Energy International during the 3rd quarter valued at about $76,550,000. Handelsbanken Fonder AB increased its position in shares of Sunnova Energy International by 9.1% during the third quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock valued at $71,097,000 after buying an additional 611,452 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Sunnova Energy International by 190.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 744,686 shares of the company’s stock worth $7,253,000 after buying an additional 488,623 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Sunnova Energy International by 23.4% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 357,781 shares of the company’s stock worth $1,996,000 after buying an additional 67,749 shares during the period.

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.