Mizuho Cuts Sunnova Energy International (NYSE:NOVA) Price Target to $17.00

Sunnova Energy International (NYSE:NOVA - Get Free Report) had its price objective lowered by investment analysts at Mizuho from $21.00 to $17.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Mizuho's target price points to a potential upside of 346.78% from the stock's current price.

Several other equities analysts have also recently issued reports on the company. Evercore ISI dropped their target price 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. Morgan Stanley reaffirmed an "equal weight" rating and set a $14.00 price objective (down previously from $24.00) on shares of Sunnova Energy International in a report on Monday, March 4th. Northland Securities reissued 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. 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 research report on Friday, March 22nd. Finally, The Goldman Sachs Group cut 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 report on Thursday, April 11th. Six equities research 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 stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $18.73.

Sunnova Energy International Stock Performance

Shares of NYSE NOVA traded up $0.03 during mid-day trading on Friday, hitting $3.81. 10,230,067 shares of the company were exchanged, compared to its average volume of 9,222,215. The stock has a 50 day simple moving average of $6.56 and a 200-day simple moving average of $9.55. Sunnova Energy International has a 1-year low of $3.52 and a 1-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 firm has a market cap of $471.21 million, a price-to-earnings ratio of -1.10 and a beta of 2.08.

Sunnova Energy International (NYSE:NOVA - Get Free Report) last issued its earnings results on Wednesday, February 21st. The company reported ($0.20) earnings per share 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 business had revenue of $194.18 million for the quarter, compared to the consensus estimate of $226.09 million. On average, sell-side analysts forecast that Sunnova Energy International will post -2.28 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NOVA. Ballentine Partners LLC purchased a new position in shares of Sunnova Energy International in the 4th quarter worth about $161,000. Vanguard Group Inc. raised its holdings in Sunnova Energy International by 3.8% in the third quarter. Vanguard Group Inc. now owns 10,270,487 shares of the company's stock valued at $107,532,000 after buying an additional 379,032 shares during the period. Dark Forest Capital Management LP purchased a new position in Sunnova Energy International in the third quarter valued at approximately $593,000. Money Concepts Capital Corp lifted its position in Sunnova Energy International by 20.3% during the third quarter. Money Concepts Capital Corp now owns 634,117 shares of the company's stock valued at $6,639,000 after buying an additional 106,819 shares in the last quarter. Finally, Quantbot Technologies LP grew its stake in Sunnova Energy International by 21.8% during the third quarter. Quantbot Technologies LP now owns 188,150 shares of the company's stock worth $1,970,000 after buying an additional 33,629 shares during the period.

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.