Sunnova Energy International (NYSE:NOVA) Lowered to Sector Weight at KeyCorp

KeyCorp cut shares of Sunnova Energy International (NYSE:NOVA - Free Report) from an overweight rating to a sector weight rating in a research report released on Tuesday morning, MarketBeat reports.

A number of other brokerages have also recently weighed in on NOVA. The Goldman Sachs Group decreased their price target on shares of Sunnova Energy International from $14.00 to $12.00 and set a buy rating for the company in a research report on Thursday, April 11th. B. Riley cut 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 report on Monday. Truist Financial reiterated a buy rating and issued a $16.00 price objective (down previously from $18.00) on shares of Sunnova Energy International in a report on Monday, February 26th. Northland Securities reiterated a market perform rating and issued a $9.00 price objective (down previously from $12.00) on shares of Sunnova Energy International in a report on Friday, February 23rd. Finally, Mizuho cut their price objective on shares of Sunnova Energy International from $21.00 to $17.00 and set a buy rating on the stock in a report on Friday. Seven research 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 company's stock. According to data from MarketBeat.com, Sunnova Energy International currently has a consensus rating of Moderate Buy and a consensus target price of $18.48.

Sunnova Energy International Trading Up 2.7 %

Shares of NYSE NOVA traded up $0.10 during trading on Tuesday, hitting $3.93. 7,249,306 shares of the company traded hands, compared to its average volume of 9,165,005. Sunnova Energy International has a 1 year low of $3.52 and a 1 year high of $24.56. The company has a 50-day moving average price of $6.10 and a 200-day moving average price of $9.44. The firm has a market capitalization of $486.07 million, a P/E ratio of -1.12 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 announced its quarterly earnings data on Wednesday, February 21st. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.04. Sunnova Energy International had a negative net margin of 58.00% and a negative return on equity of 13.26%. The company had revenue of $194.18 million during the quarter, compared to analysts' expectations of $226.09 million. On average, equities analysts predict that Sunnova Energy International will post -2.28 EPS for the current year.

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 purchased at an average price of $6.92 per share, for a total transaction of $1,054,954.00. Following the transaction, the director now owns 236,139 shares in the company, valued at $1,634,081.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 purchased at an average price of $6.92 per share, for a total transaction of $1,054,954.00. Following the transaction, the director now owns 236,139 shares in the company, valued at $1,634,081.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul S. Mathews sold 9,500 shares of the company's stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $5.31, for a total transaction of $50,445.00. Following the completion of the transaction, the insider now 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 over the last quarter. 4.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NOVA. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Sunnova Energy International by 2.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 45,491 shares of the company's stock worth $663,000 after buying an additional 1,094 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Sunnova Energy International by 3.6% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 44,397 shares of the company's stock worth $465,000 after purchasing an additional 1,528 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in Sunnova Energy International by 8.0% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 20,898 shares of the company's stock worth $325,000 after purchasing an additional 1,554 shares during the period. Principal Financial Group Inc. boosted its stake in Sunnova Energy International by 14.0% in the 3rd quarter. Principal Financial Group Inc. now owns 12,893 shares of the company's stock worth $135,000 after purchasing an additional 1,584 shares during the period. Finally, Manchester Capital Management LLC boosted its stake in 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 purchasing an additional 1,835 shares during the period.

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.