Sunnova Energy International (NYSE:NOVA) Price Target Cut to $15.00 by Analysts at B. Riley

Sunnova Energy International (NYSE:NOVA - Get Free Report) had its target price dropped by equities researchers at B. Riley from $21.00 to $15.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a "buy" rating on the stock. B. Riley's price objective would suggest a potential upside of 293.18% from the stock's current price.

Several other equities analysts have also recently commented on the stock. Susquehanna reduced 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. Truist Financial reaffirmed a "buy" rating and set a $16.00 price objective (down previously from $18.00) on shares of Sunnova Energy International in a research note on Monday, February 26th. Evercore ISI reduced their price objective on shares of Sunnova Energy International from $29.00 to $26.00 and set an "outperform" rating for the company in a research note on Friday, February 23rd. The Goldman Sachs Group reduced their price objective on shares of Sunnova Energy International from $14.00 to $12.00 and set a "buy" rating for the company in a research note on Thursday, April 11th. Finally, Northland Securities reaffirmed a "market perform" rating and set a $9.00 price objective (down previously from $12.00) on shares of Sunnova Energy International in a research note on Friday, February 23rd. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $18.48.

Sunnova Energy International Stock Performance

Shares of NYSE NOVA traded up $0.02 during midday trading on Monday, hitting $3.82. The company's stock had a trading volume of 6,642,992 shares, compared to its average volume of 9,188,797. The stock has a fifty day moving average price of $6.23 and a 200 day moving average price of $9.47. Sunnova Energy International has a one year low of $3.52 and a one year high of $24.56. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.58. The firm has a market capitalization of $472.45 million, a price-to-earnings ratio of -1.09 and a beta of 2.08.

Sunnova Energy International (NYSE:NOVA - Get Free Report) last posted its quarterly earnings results 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. The company had revenue of $194.18 million for the quarter, compared to analyst estimates of $226.09 million. Sunnova Energy International had a negative net margin of 58.00% and a negative return on equity of 13.26%. On average, research analysts forecast that Sunnova Energy International will post -2.28 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Akbar Mohamed acquired 152,450 shares of the firm's stock in a transaction that occurred on 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 acquisition, the director now directly owns 236,139 shares in the company, valued at $1,634,081.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Akbar Mohamed acquired 152,450 shares of the firm's stock in a transaction that occurred on 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 acquisition, the director now directly owns 236,139 shares in the company, valued at $1,634,081.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul S. Mathews sold 9,500 shares of the business's stock in a transaction that occurred on 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 $74,377.17. The disclosure for this sale can be found here. Insiders sold a total of 23,580 shares of company stock worth $137,382 in the last three months. Insiders own 4.50% of the company's stock.

Institutional Investors Weigh In On Sunnova Energy International

Hedge funds have recently added to or reduced their stakes in the stock. Manchester Capital Management LLC raised its stake in Sunnova Energy International by 2,959.7% during the 4th quarter. Manchester Capital Management LLC now owns 1,897 shares of the company's stock valued at $29,000 after buying an additional 1,835 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Sunnova Energy International by 158.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,036 shares of the company's stock valued at $74,000 after buying an additional 4,310 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Sunnova Energy International during the 4th quarter valued at $157,000. Ballentine Partners LLC purchased a new stake in Sunnova Energy International during the 4th quarter valued at $161,000. Finally, First Trust Direct Indexing L.P. purchased a new stake in Sunnova Energy International during the 1st quarter valued at $66,000.

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.