Piper Sandler Has Lowered Expectations for Sunnova Energy International (NYSE:NOVA) Stock Price

Sunnova Energy International (NYSE:NOVA) had its price objective decreased by investment analysts at Piper Sandler from $8.00 to $4.50 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s target price suggests a potential downside of 8.16% from the stock’s current price.

Several other research firms also recently weighed in on NOVA. Susquehanna lifted their target price on shares of Sunnova Energy International from $12.00 to $14.00 and gave the stock a “positive” rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Sunnova Energy International from $9.00 to $6.25 and set a “hold” rating on the stock in a report on Friday, November 1st. The Goldman Sachs Group raised their price target on Sunnova Energy International from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. BMO Capital Markets reiterated a “market perform” rating and set a $8.00 price objective (down from $10.00) on shares of Sunnova Energy International in a research note on Friday, November 1st. Finally, BNP Paribas downgraded Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 target price for the company. in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.73.

Sunnova Energy International Price Performance

Sunnova Energy International stock opened at $4.90 on Friday. The business’s 50 day simple moving average is $6.66 and its 200 day simple moving average is $6.89. Sunnova Energy International has a 12 month low of $2.99 and a 12 month high of $16.35. The company has a market cap of $612.27 million, a price-to-earnings ratio of -1.46 and a beta of 2.26. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.45). Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The firm had revenue of $235.30 million for the quarter, compared to analysts’ expectations of $238.23 million. During the same period in the prior year, the company earned ($0.53) EPS. The firm’s quarterly revenue was up 18.6% on a year-over-year basis. Sell-side analysts forecast that Sunnova Energy International will post -2.29 EPS for the current year.

Insiders Place Their Bets

In other Sunnova Energy International news, Director Akbar Mohamed purchased 50,000 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were purchased at an average cost of $3.64 per share, with a total value of $182,000.00. Following the completion of the purchase, the director now owns 352,654 shares of the company’s stock, valued at $1,283,660.56. The trade was a 16.52 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Eric Michael Williams acquired 13,800 shares of the stock in a transaction dated Monday, November 18th. The stock was acquired at an average price of $3.60 per share, with a total value of $49,680.00. Following the completion of the acquisition, the chief financial officer now owns 13,800 shares in the company, valued at approximately $49,680. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 118,517 shares of company stock valued at $439,605 over the last 90 days. Insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Erste Asset Management GmbH purchased a new stake in Sunnova Energy International during the 3rd quarter valued at about $76,550,000. Sylebra Capital LLC boosted its stake in shares of Sunnova Energy International by 125.6% during the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock valued at $121,195,000 after purchasing an additional 6,926,399 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Sunnova Energy International by 56.7% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 14,142,487 shares of the company’s stock worth $78,915,000 after purchasing an additional 5,118,552 shares during the last quarter. Handelsbanken Fonder AB increased its stake in shares of Sunnova Energy International by 9.1% in the third quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock worth $71,097,000 after buying an additional 611,452 shares during the period. Finally, Electron Capital Partners LLC raised its holdings in Sunnova Energy International by 24.5% during the 2nd quarter. Electron Capital Partners LLC now owns 3,004,938 shares of the company’s stock valued at $16,768,000 after buying an additional 591,514 shares during the last quarter.

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.