Sunnova Energy International (NYSE:NOVA) Lowered to Neutral Rating by Susquehanna

Sunnova Energy International (NYSE:NOVA) was downgraded by equities research analysts at Susquehanna from a “positive” rating to a “neutral” rating in a research note issued to investors on Friday, MarketBeat reports. They presently have a $4.50 price target on the stock. Susquehanna’s target price indicates a potential upside of 14.80% from the company’s previous close.

NOVA has been the topic of a number of other reports. Guggenheim lowered Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft dropped their price target on Sunnova Energy International from $9.00 to $6.25 and set a “hold” rating on the stock in a research report on Friday, November 1st. The Goldman Sachs Group lowered their price objective on Sunnova Energy International from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, December 17th. Robert W. Baird reduced their target price on shares of Sunnova Energy International from $12.00 to $9.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Finally, TD Cowen initiated coverage on shares of Sunnova Energy International in a research note on Thursday, December 19th. They set a “hold” rating and a $5.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Sunnova Energy International has a consensus rating of “Hold” and a consensus target price of $9.58.

Sunnova Energy International Price Performance

Shares of NYSE:NOVA opened at $3.92 on Friday. The stock’s fifty day simple moving average is $4.26 and its two-hundred day simple moving average is $6.73. The stock has a market cap of $489.82 million, a PE ratio of -1.17 and a beta of 2.29. 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 has a 1-year low of $2.99 and a 1-year high of $13.08.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $238.23 million. During the same quarter last year, the business posted ($0.53) EPS. The company’s quarterly revenue was up 18.6% on a year-over-year basis. As a group, analysts forecast that Sunnova Energy International will post -2.44 EPS for the current fiscal year.

Insider Buying and Selling at Sunnova Energy International

In other news, CFO Eric Michael Williams purchased 13,800 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was bought at an average cost of $3.60 per share, for a total transaction of $49,680.00. Following the acquisition, the chief financial officer now directly owns 13,800 shares of the company’s stock, valued at $49,680. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Akbar Mohamed purchased 54,717 shares of the business’s stock in a transaction on Friday, November 15th. The stock was purchased at an average cost of $3.80 per share, for a total transaction of $207,924.60. Following the acquisition, the director now owns 302,654 shares in the company, valued at approximately $1,150,085.20. The trade was a 22.07 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 118,517 shares of company stock worth $439,605 over the last three months. 4.50% of the stock is owned by insiders.

Institutional Trading of Sunnova Energy International

A number of institutional investors have recently modified their holdings of the company. Mercer Global Advisors Inc. ADV purchased a new position in shares of Sunnova Energy International during the 2nd quarter worth approximately $78,000. AE Wealth Management LLC bought a new stake in shares of Sunnova Energy International during the second quarter valued at approximately $81,000. GAMMA Investing LLC grew its stake in Sunnova Energy International by 736.3% in the third quarter. GAMMA Investing LLC now owns 8,756 shares of the company’s stock worth $85,000 after purchasing an additional 7,709 shares during the period. Ballentine Partners LLC raised its holdings in Sunnova Energy International by 72.2% in the second quarter. Ballentine Partners LLC now owns 18,559 shares of the company’s stock worth $104,000 after purchasing an additional 7,783 shares in the last quarter. Finally, Creative Planning bought a new position in Sunnova Energy International in the third quarter worth $107,000.

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.