Sunnova Energy International (NYSE:NOVA) Rating Lowered to “Neutral” at Susquehanna

Sunnova Energy International (NYSE:NOVA) was downgraded by stock analysts at Susquehanna from a “positive” rating to a “neutral” rating in a report released on Friday, MarketBeat Ratings reports. They currently have a $4.50 price objective on the stock. Susquehanna’s price objective suggests a potential upside of 14.80% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Morgan Stanley decreased their target price on shares of 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. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Sunnova Energy International from $9.00 to $6.25 and set a “hold” rating for the company in a report on Friday, November 1st. Jefferies Financial Group started coverage on Sunnova Energy International in a research note on Thursday, October 10th. They set a “buy” rating and a $15.00 target price on the stock. The Goldman Sachs Group lowered their price target on Sunnova Energy International from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, December 17th. Finally, Barclays reduced their price objective on Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $9.58.

Sunnova Energy International Stock Performance

Sunnova Energy International stock opened at $3.92 on Friday. Sunnova Energy International has a twelve month low of $2.99 and a twelve month high of $13.08. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26. The company has a market capitalization of $489.82 million, a P/E ratio of -1.17 and a beta of 2.29. The stock’s 50 day moving average is $4.26 and its 200 day moving average is $6.73.

Sunnova Energy International (NYSE:NOVA) last released its earnings results on Wednesday, October 30th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.45). The company 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 revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.53) earnings per share. On average, equities research analysts predict that Sunnova Energy International will post -2.44 earnings per share for the current fiscal year.

Insider Activity at Sunnova Energy International

In related news, CFO Eric Michael Williams acquired 13,800 shares of the company’s stock in a transaction on Monday, November 18th. The stock was acquired at an average price of $3.60 per share, with a total value of $49,680.00. Following the acquisition, the chief financial officer now directly owns 13,800 shares of the company’s stock, valued at approximately $49,680. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Akbar Mohamed bought 54,717 shares of Sunnova Energy International stock in a transaction dated Friday, November 15th. The stock was purchased at an average cost of $3.80 per share, for a total transaction of $207,924.60. Following the completion of the acquisition, the director now directly owns 302,654 shares of the company’s stock, valued at approximately $1,150,085.20. The trade was a 22.07 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 118,517 shares of company stock worth $439,605. 4.50% of the stock is owned by corporate insiders.

Institutional Trading of Sunnova Energy International

A number of large investors have recently added to or reduced their stakes in NOVA. Bank of New York Mellon Corp raised its stake in Sunnova Energy International by 13.9% during the second quarter. Bank of New York Mellon Corp now owns 394,812 shares of the company’s stock valued at $2,203,000 after purchasing an additional 48,119 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Sunnova Energy International by 17.4% in the 2nd quarter. Rhumbline Advisers now owns 222,074 shares of the company’s stock worth $1,239,000 after buying an additional 32,858 shares during the last quarter. Ballentine Partners LLC increased its holdings in shares of Sunnova Energy International by 72.2% in the 2nd quarter. Ballentine Partners LLC now owns 18,559 shares of the company’s stock worth $104,000 after buying an additional 7,783 shares during the last quarter. American Century Companies Inc. raised its position in shares of Sunnova Energy International by 14.2% during the 2nd quarter. American Century Companies Inc. now owns 173,283 shares of the company’s stock valued at $967,000 after buying an additional 21,492 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of Sunnova Energy International in the 2nd quarter valued at about $78,000.

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.