Sunnova Energy International (NYSE:NOVA) Given Equal Weight Rating at Wells Fargo & Company

Sunnova Energy International (NYSE:NOVA - Get Free Report)'s stock had its "equal weight" rating reaffirmed by research analysts at Wells Fargo & Company in a report issued on Friday, Marketbeat Ratings reports. They presently have a $6.00 target price on the stock, down from their prior target price of $11.00. Wells Fargo & Company's target price would indicate a potential upside of 57.69% from the company's previous close.

NOVA has been the topic of several other research reports. Morgan Stanley restated an "equal weight" rating and issued a $14.00 price target (down previously from $24.00) on shares of Sunnova Energy International in a research note on Monday, March 4th. Evercore ISI cut their price target on Sunnova Energy International from $29.00 to $26.00 and set an "outperform" rating on the stock in a research note on Friday, February 23rd. Susquehanna cut their price target on Sunnova Energy International from $20.00 to $12.00 and set a "positive" rating on the stock in a research note on Friday, April 5th. Truist Financial reiterated a "buy" rating and set a $16.00 target price (down from $18.00) on shares of Sunnova Energy International in a research note on Monday, February 26th. Finally, Janney Montgomery Scott upgraded Sunnova Energy International from a "neutral" rating to a "buy" rating and set a $12.00 target price on the stock in a research note on Friday, March 22nd. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Sunnova Energy International has an average rating of "Moderate Buy" and a consensus target price of $18.73.

Sunnova Energy International Stock Up 0.7 %

Shares of NYSE:NOVA traded up $0.03 during trading on Friday, hitting $3.81. The stock had a trading volume of 10,230,067 shares, compared to its average volume of 9,222,215. 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 company has a market capitalization of $471.21 million, a PE ratio of -1.09 and a beta of 2.08. The firm's fifty day moving average is $6.40 and its 200 day moving average is $9.51. Sunnova Energy International has a 12 month low of $3.52 and a 12 month high of $24.56.

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 for the quarter, topping the consensus estimate of ($0.24) by $0.04. The company had revenue of $194.18 million for the quarter, compared to the consensus estimate of $226.09 million. Sunnova Energy International had a negative return on equity of 13.26% and a negative net margin of 58.00%. Analysts anticipate that Sunnova Energy International will post -2.28 EPS for the current fiscal year.

Insider Buying and Selling at Sunnova Energy International

In other Sunnova Energy International news, insider Paul S. Mathews sold 9,500 shares of the firm'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 sale, the insider now directly owns 14,007 shares of the company's stock, valued at $74,377.17. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Paul S. Mathews sold 9,500 shares of the firm'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 in the company, valued at $74,377.17. 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 business's stock in a transaction dated Wednesday, February 28th. The shares were purchased at an average price of $6.92 per share, with a total value of $1,054,954.00. Following the transaction, 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 a total of 23,580 shares of company stock valued at $137,382 over the last ninety days. 4.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NOVA. Captrust Financial Advisors grew its position in Sunnova Energy International by 236.4% in the first quarter. Captrust Financial Advisors now owns 1,487 shares of the company's stock worth $34,000 after acquiring an additional 1,045 shares in the last quarter. Manchester Capital Management LLC grew its position in Sunnova Energy International by 2,959.7% in the fourth quarter. Manchester Capital Management LLC now owns 1,897 shares of the company's stock worth $29,000 after acquiring an additional 1,835 shares in the last quarter. Quarry LP purchased a new position in Sunnova Energy International in the first quarter worth about $36,000. Steward Partners Investment Advisory LLC grew its position in Sunnova Energy International by 108.9% in the first quarter. Steward Partners Investment Advisory LLC now owns 2,302 shares of the company's stock worth $36,000 after acquiring an additional 1,200 shares in the last quarter. Finally, US Bancorp DE grew its position in Sunnova Energy International by 168.8% in the first quarter. US Bancorp DE now owns 2,809 shares of the company's stock worth $65,000 after acquiring an additional 1,764 shares in the last quarter.

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.