Sunnova Energy International (NYSE:NOVA) Price Target Cut to $17.00 by Analysts at Evercore ISI

Sunnova Energy International (NYSE:NOVA) had its target price lowered by Evercore ISI from $26.00 to $17.00 in a report released on Friday, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research firms have also recently commented on NOVA. Truist Financial lowered their target price on Sunnova Energy International from $16.00 to $9.00 and set a buy rating on the stock in a research report on Tuesday. Wells Fargo & Company restated an equal weight rating and set a $6.00 price objective (down from $11.00) on shares of Sunnova Energy International in a research note on Friday, April 19th. KeyCorp cut shares of Sunnova Energy International from an overweight rating to a sector weight rating in a research note on Tuesday, April 23rd. Northland Securities reaffirmed a market perform rating and issued a $9.00 price target (down from $12.00) on shares of Sunnova Energy International in a research note on Friday, February 23rd. Finally, B. Riley lowered their price objective on shares of Sunnova Energy International from $21.00 to $15.00 and set a buy rating on the stock in a research note on Monday, April 22nd. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Sunnova Energy International currently has a consensus rating of Moderate Buy and an average target price of $16.71.

Sunnova Energy International Stock Performance

Shares of NYSE:NOVA traded up $0.37 during trading on Friday, hitting $4.79. 15,122,585 shares of the company traded hands, compared to its average volume of 9,639,226. The stock has a market capitalization of $593.19 million, a price-to-earnings ratio of -1.42 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 company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.58. The business’s fifty day moving average is $5.05 and its 200-day moving average is $9.11.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.57) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.79) by $0.22. The company had revenue of $160.90 million during the quarter, compared to the consensus estimate of $193.78 million. Sunnova Energy International had a negative net margin of 56.52% and a negative return on equity of 12.35%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.70) earnings per share. As a group, equities 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 business’s stock in a transaction dated 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 $74,377.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Sunnova Energy International news, Director Akbar Mohamed bought 152,450 shares of the stock in a transaction on Wednesday, February 28th. The shares were purchased at an average cost of $6.92 per share, with a total value of $1,054,954.00. Following the completion of the transaction, the director now directly owns 236,139 shares of the company’s stock, valued at approximately $1,634,081.88. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul S. Mathews sold 9,500 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $5.31, for a total value of $50,445.00. Following the completion of the sale, the insider now directly owns 14,007 shares of the company’s stock, valued at approximately $74,377.17. The disclosure for this sale can be found here. Insiders have sold a total of 23,580 shares of company stock worth $137,382 in the last ninety days. Corporate insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Sunnova Energy International

A number of large investors have recently added to or reduced their stakes in NOVA. Commonwealth Equity Services LLC raised its holdings in Sunnova Energy International by 34.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 17,527 shares of the company’s stock worth $184,000 after acquiring an additional 4,450 shares during the period. Raymond James & Associates increased its stake in shares of Sunnova Energy International by 19.5% in the third quarter. Raymond James & Associates now owns 95,096 shares of the company’s stock worth $996,000 after purchasing an additional 15,503 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in shares of Sunnova Energy International by 3.0% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 66,485 shares of the company’s stock worth $696,000 after purchasing an additional 1,962 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Sunnova Energy International by 37.2% during the 3rd quarter. Mackenzie Financial Corp now owns 115,657 shares of the company’s stock valued at $1,211,000 after purchasing an additional 31,338 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Sunnova Energy International by 4.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 105,299 shares of the company’s stock valued at $1,102,000 after buying an additional 4,411 shares during 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.