B. Riley Trims Sunnova Energy International (NYSE:NOVA) Target Price to $15.00

Sunnova Energy International (NYSE:NOVA) had its price objective reduced by B. Riley from $21.00 to $15.00 in a report released on Monday, Benzinga reports. They currently have a buy rating on the stock. B. Riley also issued estimates for Sunnova Energy International’s Q1 2024 earnings at ($1.06) EPS, Q2 2024 earnings at ($0.74) EPS, Q3 2024 earnings at ($0.77) EPS, Q4 2024 earnings at ($1.03) EPS, FY2024 earnings at ($3.60) EPS and FY2025 earnings at ($3.40) EPS.

Several other research firms have also weighed in on NOVA. Susquehanna reduced their target price on Sunnova Energy International from $20.00 to $12.00 and set a positive rating on the stock in a report on Friday, April 5th. Northland Securities reaffirmed a market perform rating and set a $9.00 price objective (down from $12.00) on shares of Sunnova Energy International in a research report on Friday, February 23rd. Mizuho reduced their price objective on Sunnova Energy International from $21.00 to $17.00 and set a buy rating for the company in a research report on Friday, April 19th. Janney Montgomery Scott raised Sunnova Energy International from a neutral rating to a buy rating and set a $12.00 price objective for the company in a research report on Friday, March 22nd. Finally, Morgan Stanley reissued an equal weight rating and set a $14.00 price target (down from $24.00) on shares of Sunnova Energy International in a research report on Monday, March 4th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $18.48.

Sunnova Energy International Stock Down 6.5 %

Shares of Sunnova Energy International stock opened at $3.68 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.58. Sunnova Energy International has a 12 month low of $3.52 and a 12 month high of $24.56. The business has a fifty day simple moving average of $5.78 and a 200 day simple moving average of $9.36. The stock has a market cap of $455.11 million, a PE ratio of -1.05 and a beta of 2.08.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings data on Wednesday, February 21st. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.04. Sunnova Energy International had a negative return on equity of 13.26% and a negative net margin of 58.00%. The business had revenue of $194.18 million during the quarter, compared to analysts’ expectations of $226.09 million. Research analysts predict that Sunnova Energy International will post -2.37 EPS for the current year.

Insider Transactions at Sunnova Energy International

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

Hedge Funds Weigh In On Sunnova Energy International

Hedge funds have recently added to or reduced their stakes in the stock. Electron Capital Partners LLC boosted its holdings in shares of Sunnova Energy International by 42.9% in the 3rd quarter. Electron Capital Partners LLC now owns 5,308,684 shares of the company’s stock valued at $55,582,000 after purchasing an additional 1,593,098 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Sunnova Energy International by 124.4% in the 4th quarter. Van ECK Associates Corp now owns 1,563,320 shares of the company’s stock valued at $23,841,000 after purchasing an additional 866,705 shares in the last quarter. Banque Pictet & Cie SA acquired a new stake in shares of Sunnova Energy International in the 3rd quarter valued at $6,906,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Sunnova Energy International by 57.6% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,324,957 shares of the company’s stock valued at $13,872,000 after purchasing an additional 484,150 shares in the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of Sunnova Energy International in the 4th quarter valued at $6,930,000.

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.