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

Piper Sandler cut shares of Sunnova Energy International (NYSE:NOVA) from an overweight rating to a neutral rating in a research report report published on Tuesday morning, MarketBeat.com reports. Piper Sandler currently has $4.50 price objective on the stock, down from their prior price objective of $9.00.

NOVA has been the subject of a number of other research reports. KeyCorp lowered Sunnova Energy International from an overweight rating to a sector weight rating in a research note on Tuesday, April 23rd. Scotiabank decreased their price target on shares of Sunnova Energy International from $20.00 to $10.00 and set a sector outperform rating for the company in a research report on Monday, April 29th. Janney Montgomery Scott raised shares of Sunnova Energy International from a neutral rating to a buy rating and set a $12.00 price target on the stock in a report on Friday, March 22nd. Northland Securities reiterated a market perform rating and set a $9.00 price objective (down from $12.00) on shares of Sunnova Energy International in a research note on Friday, February 23rd. Finally, Evercore ISI dropped their target price on shares of Sunnova Energy International from $26.00 to $17.00 and set an outperform rating for the company in a research report on Friday, May 3rd. Eight analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Sunnova Energy International currently has an average rating of Moderate Buy and an average target price of $15.88.

Sunnova Energy International Price Performance

Shares of NYSE:NOVA opened at $4.31 on Tuesday. Sunnova Energy International has a 12 month low of $3.37 and a 12 month high of $24.56. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.74 and a current ratio of 0.74. The business has a 50-day moving average of $4.58 and a two-hundred day moving average of $8.60.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.57) earnings per share (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 during the quarter, compared to the consensus estimate of $193.78 million. During the same period in the prior year, the firm earned ($0.70) EPS. The firm’s quarterly revenue was down .5% compared to the same quarter last year. On average, analysts anticipate that Sunnova Energy International will post -1.9 earnings per share for the current fiscal year.

Insider Activity at Sunnova Energy International

In related news, Director Akbar Mohamed acquired 152,450 shares of the company’s stock in a transaction 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 directly owns 236,139 shares of the company’s stock, valued at approximately $1,634,081.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Paul S. Mathews sold 9,500 shares of the 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 sale, the insider now directly owns 14,007 shares in the company, valued at approximately $74,377.17. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Akbar Mohamed purchased 152,450 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were acquired at an average cost of $6.92 per share, with a total value of $1,054,954.00. Following the completion of the acquisition, 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 90 days. 4.50% of the stock is owned by corporate insiders.

Institutional Trading of Sunnova Energy International

Large investors have recently made changes to their positions in the business. Electron Capital Partners LLC grew its holdings in Sunnova Energy International by 42.9% during the 3rd quarter. Electron Capital Partners LLC now owns 5,308,684 shares of the company’s stock worth $55,582,000 after acquiring an additional 1,593,098 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of 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 stake in shares of Sunnova Energy International in the third quarter valued at approximately $6,906,000. Westwood Holdings Group Inc. raised its position in Sunnova Energy International by 3,168.8% in the 1st quarter. Westwood Holdings Group Inc. now owns 574,127 shares of the company’s stock worth $3,519,000 after purchasing an additional 556,563 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Sunnova Energy International by 57.6% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,324,957 shares of the company’s stock worth $13,872,000 after buying an additional 484,150 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.