Piper Sandler Lowers Sunnova Energy International (NYSE:NOVA) to Neutral

Sunnova Energy International (NYSE:NOVA - Get Free Report) was downgraded by investment analysts at Piper Sandler from an "overweight" rating to a "neutral" rating in a research report issued to clients and investors on Tuesday, Marketbeat reports. They presently have a $4.50 price target on the stock, down from their previous price target of $9.00. Piper Sandler's price objective would indicate a potential upside of 11.11% from the stock's current price.

NOVA has been the subject of a number of other reports. Susquehanna cut their price target on shares of Sunnova Energy International from $20.00 to $12.00 and set a "positive" rating for the company in a report on Friday, April 5th. Northland Securities restated a "market perform" rating and issued a $9.00 target price (down previously from $12.00) on shares of Sunnova Energy International in a report on Friday, February 23rd. KeyCorp downgraded Sunnova Energy International from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, April 23rd. Scotiabank lowered their target price on Sunnova Energy International from $20.00 to $10.00 and set a "sector outperform" rating on the stock in a research note on Monday, April 29th. Finally, B. Riley dropped 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. Eight analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $15.88.

Sunnova Energy International Stock Down 2.4 %

Shares of NOVA stock traded down $0.10 during trading hours on Tuesday, hitting $4.05. 5,490,565 shares of the company were exchanged, compared to its average volume of 9,086,163. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.74 and a current ratio of 0.74. 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 $4.59 and its two-hundred day simple moving average is $8.70. The stock has a market capitalization of $502.12 million, a price-to-earnings ratio of -1.20 and a beta of 2.15.

Sunnova Energy International (NYSE:NOVA - Get Free Report) last posted its earnings results on Wednesday, May 1st. The company reported ($0.57) EPS for the quarter, beating the consensus estimate of ($0.79) by $0.22. Sunnova Energy International had a negative return on equity of 12.10% and a negative net margin of 56.52%. The firm had revenue of $160.90 million for the quarter, compared to analysts' expectations of $193.78 million. During the same period last year, the firm earned ($0.70) EPS. The firm's revenue was down .5% compared to the same quarter last year. Sell-side analysts predict that Sunnova Energy International will post -1.92 EPS for the current fiscal year.

Insider Activity at Sunnova Energy International

In related news, Director Akbar Mohamed purchased 152,450 shares of the stock in a transaction dated Wednesday, February 28th. The stock was bought at an average cost of $6.92 per share, for a total transaction of $1,054,954.00. Following the completion of the acquisition, the director now owns 236,139 shares of the company's stock, valued at $1,634,081.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Paul S. Mathews sold 9,500 shares of Sunnova Energy International stock in a transaction on Monday, March 11th. The shares were 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 document filed with the SEC, which is available through the SEC website. Also, Director Akbar Mohamed acquired 152,450 shares of Sunnova Energy International stock in a transaction that occurred on Wednesday, February 28th. The stock was acquired at an average cost of $6.92 per share, for a total transaction of $1,054,954.00. Following the purchase, the director now owns 236,139 shares of the company's stock, valued at $1,634,081.88. The disclosure for this purchase can be found here. Insiders have sold 23,580 shares of company stock valued at $137,382 over the last ninety days. 4.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sunnova Energy International

A number of large investors have recently bought and sold shares of NOVA. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Sunnova Energy International during the 1st quarter worth $25,000. Manchester Capital Management LLC raised 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 valued at $29,000 after acquiring an additional 1,835 shares during the period. Caxton Associates LP purchased a new stake in shares of Sunnova Energy International during the 1st quarter valued at approximately $62,000. First Trust Direct Indexing L.P. purchased a new position in shares of Sunnova Energy International in the first quarter valued at $66,000. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Sunnova Energy International by 129.9% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,788 shares of the company's stock worth $72,000 after buying an additional 6,661 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.