Sunnova Energy International (NYSE:NOVA) Given New $9.00 Price Target at Truist Financial

Sunnova Energy International (NYSE:NOVA - Free Report) had its price objective lowered by Truist Financial from $16.00 to $9.00 in a research note released on Tuesday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other brokerages also recently issued reports on NOVA. Scotiabank reduced their price objective on Sunnova Energy International from $20.00 to $10.00 and set a sector outperform rating for the company in a research note on Monday. Mizuho reduced their price objective on Sunnova Energy International from $21.00 to $17.00 and set a buy rating for the company in a research note on Friday, April 19th. Morgan Stanley reissued an equal weight rating and issued a $14.00 price objective (down from $24.00) on shares of Sunnova Energy International in a research note on Monday, March 4th. Northland Securities reissued a market perform rating and issued a $9.00 price objective (down from $12.00) on shares of Sunnova Energy International in a research note on Friday, February 23rd. Finally, The Goldman Sachs Group cut their price target on 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. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $17.86.

Sunnova Energy International Trading Down 3.1 %

Shares of NYSE:NOVA traded down $0.13 during midday trading on Tuesday, reaching $4.21. The company had a trading volume of 9,084,142 shares, compared to its average volume of 9,028,815. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.85 and a current ratio of 0.85. Sunnova Energy International has a 1-year low of $3.52 and a 1-year high of $24.56. The firm has a market cap of $520.75 million, a price-to-earnings ratio of -1.20 and a beta of 2.08. The company has a fifty day simple moving average of $5.35 and a two-hundred day simple moving average of $9.23.

Sunnova Energy International (NYSE:NOVA - Get Free Report) last released its quarterly earnings results on Wednesday, February 21st. The company reported ($0.20) earnings per share for the quarter, beating analysts' consensus estimates of ($0.24) by $0.04. The business had revenue of $194.18 million during the quarter, compared to analyst estimates of $226.09 million. Sunnova Energy International had a negative return on equity of 13.26% and a negative net margin of 58.00%. Research analysts predict that Sunnova Energy International will post -2.37 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Jack O. Lynch III sold 12,994 shares of the company's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $6.21, for a total transaction of $80,692.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Akbar Mohamed acquired 152,450 shares of the company's stock in a transaction that occurred on Wednesday, February 28th. The stock was acquired at an average price 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 approximately $1,634,081.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jack O. Lynch III sold 12,994 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $6.21, for a total value of $80,692.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,580 shares of company stock valued at $137,382. 4.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sunnova Energy International

Several large investors have recently modified their holdings of the business. Electron Capital Partners LLC boosted its position in Sunnova Energy International by 42.9% during the third quarter. Electron Capital Partners LLC now owns 5,308,684 shares of the company's stock valued at $55,582,000 after purchasing an additional 1,593,098 shares during the last quarter. Van ECK Associates Corp boosted its position in Sunnova Energy International by 124.4% during the fourth quarter. Van ECK Associates Corp now owns 1,563,320 shares of the company's stock valued at $23,841,000 after purchasing an additional 866,705 shares during the last quarter. Banque Pictet & Cie SA acquired a new position in Sunnova Energy International during the third quarter valued at approximately $6,906,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Sunnova Energy International by 57.6% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,324,957 shares of the company's stock valued at $13,872,000 after purchasing an additional 484,150 shares during the last quarter. Finally, Trexquant Investment LP acquired a new position in Sunnova Energy International during the fourth quarter valued at approximately $6,930,000.

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.