Sunnova Energy International (NYSE:NOVA) Sets New 52-Week Low on Analyst Downgrade

Sunnova Energy International Inc. (NYSE:NOVA - Get Free Report) hit a new 52-week low during mid-day trading on Friday after Mizuho lowered their price target on the stock from $21.00 to $17.00. Mizuho currently has a buy rating on the stock. Sunnova Energy International traded as low as $3.52 and last traded at $4.04, with a volume of 4812215 shares trading hands. The stock had previously closed at $3.78.

Other analysts also recently issued reports about the stock. Janney Montgomery Scott upgraded shares of Sunnova Energy International from a "neutral" rating to a "buy" rating and set a $12.00 target price on the stock in a report on Friday, March 22nd. Evercore ISI decreased their price objective on Sunnova Energy International from $29.00 to $26.00 and set an "outperform" rating on the stock in a research report on Friday, February 23rd. Truist Financial reiterated a "buy" rating and issued a $16.00 target price (down previously from $18.00) on shares of Sunnova Energy International in a report on Monday, February 26th. Northland Securities restated a "market perform" rating and set a $9.00 price target (down previously from $12.00) on shares of Sunnova Energy International in a report on Friday, February 23rd. Finally, Susquehanna dropped their price objective on shares of Sunnova Energy International from $20.00 to $12.00 and set a "positive" rating for the company in a research note on Friday, April 5th. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Sunnova Energy International presently has a consensus rating of "Moderate Buy" and an average target price of $18.73.

Insider Buying and Selling

In other news, Director Akbar Mohamed bought 152,450 shares of the firm's stock in a transaction on Wednesday, February 28th. The stock was acquired at an average cost of $6.92 per share, with a total value of $1,054,954.00. Following the transaction, the director now directly owns 236,139 shares in the company, valued at approximately $1,634,081.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Sunnova Energy International news, Director Akbar Mohamed bought 152,450 shares of the company'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 acquisition, the director now directly owns 236,139 shares in the company, valued at $1,634,081.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jack O. Lynch III sold 12,994 shares of the firm's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $6.21, for a total transaction of $80,692.74. The disclosure for this sale can be found here. Insiders have sold a total of 23,580 shares of company stock valued at $137,382 over the last quarter. 4.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sunnova Energy International

A number of large investors have recently bought and sold shares of the business. Captrust Financial Advisors raised its holdings in Sunnova Energy International by 236.4% in the first quarter. Captrust Financial Advisors now owns 1,487 shares of the company's stock worth $34,000 after purchasing an additional 1,045 shares in the last quarter. Manchester Capital Management LLC grew its position 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 worth $29,000 after buying an additional 1,835 shares during the last quarter. Quarry LP bought a new position in shares of Sunnova Energy International during the 1st quarter worth approximately $36,000. Steward Partners Investment Advisory LLC lifted its position in Sunnova Energy International by 108.9% during the first quarter. Steward Partners Investment Advisory LLC now owns 2,302 shares of the company's stock valued at $36,000 after acquiring an additional 1,200 shares during the last quarter. Finally, US Bancorp DE boosted its stake in Sunnova Energy International by 168.8% in the first quarter. US Bancorp DE now owns 2,809 shares of the company's stock valued at $65,000 after acquiring an additional 1,764 shares in the last quarter.

Sunnova Energy International Trading Up 0.7 %

The company's 50 day simple moving average is $6.56 and its two-hundred day simple moving average is $9.55. The company has a market capitalization of $471.21 million, a price-to-earnings ratio of -1.10 and a beta of 2.08. 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 (NYSE:NOVA - Get Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The company reported ($0.20) earnings per share 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 firm had revenue of $194.18 million during the quarter, compared to analysts' expectations of $226.09 million. As a group, research analysts anticipate that Sunnova Energy International Inc. will post -2.28 earnings per share for the current fiscal year.

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.