Sunnova Energy International (NYSE:NOVA) Given New $6.00 Price Target at BMO Capital Markets

Sunnova Energy International (NYSE:NOVA) had its price objective dropped by equities researchers at BMO Capital Markets from $10.00 to $6.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ price target points to a potential upside of 25.39% from the stock’s current price.

Several other brokerages have also issued reports on NOVA. KeyCorp lowered Sunnova Energy International from an “overweight” rating to a “sector weight” rating in a report on Tuesday, April 23rd. Robert W. Baird decreased their price objective on Sunnova Energy International from $14.00 to $12.00 and set an “outperform” rating for the company in a report on Friday. Evercore ISI reduced their price objective on Sunnova Energy International from $26.00 to $17.00 and set an “outperform” rating for the company in a report on Friday. The Goldman Sachs Group lowered their target price on Sunnova Energy International from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, April 11th. Finally, Truist Financial dropped their price objective on shares of Sunnova Energy International from $16.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Sunnova Energy International presently has an average rating of “Moderate Buy” and an average price target of $16.71.

Sunnova Energy International Price Performance

Shares of NYSE NOVA traded up $0.37 during mid-day trading on Friday, reaching $4.79. The company had a trading volume of 15,120,959 shares, compared to its average volume of 9,410,099. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $592.57 million, a price-to-earnings ratio of -1.43 and a beta of 2.15. Sunnova Energy International has a one year low of $3.37 and a one year high of $24.56. The business’s 50-day simple moving average is $5.11 and its 200 day simple moving average is $9.15.

Sunnova Energy International (NYSE:NOVA) last issued its earnings results on Wednesday, May 1st. The company reported ($0.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.79) by $0.22. Sunnova Energy International had a negative net margin of 56.52% and a negative return on equity of 12.35%. The business had revenue of $160.90 million for the quarter, compared to analyst estimates of $193.78 million. During the same period in the prior year, the firm earned ($0.70) earnings per share. Sunnova Energy International’s revenue was down .5% on a year-over-year basis. On average, research analysts predict that Sunnova Energy International will post -2.39 earnings per share for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Sunnova Energy International

A number of hedge funds have recently made changes to their positions in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Sunnova Energy International during the first quarter worth about $25,000. Manchester Capital Management LLC increased its holdings in shares of Sunnova Energy International by 2,959.7% in the 4th quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock valued at $29,000 after acquiring an additional 1,835 shares during the last quarter. First Trust Direct Indexing L.P. purchased a new stake in Sunnova Energy International during the first quarter worth approximately $66,000. BI Asset Management Fondsmaeglerselskab A S lifted its stake in Sunnova Energy International by 129.9% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,788 shares of the company’s stock worth $72,000 after purchasing an additional 6,661 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Sunnova Energy International by 158.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,036 shares of the company’s stock valued at $74,000 after purchasing an additional 4,310 shares in the last quarter.

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.