Barclays Lowers Sunnova Energy International (NYSE:NOVA) Price Target to $9.00

Sunnova Energy International (NYSE:NOVA) had its target price decreased by equities researchers at Barclays from $10.00 to $9.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 219.72% from the stock’s previous close.

Several other equities analysts have also recently commented on NOVA. Deutsche Bank Aktiengesellschaft reduced their price target on shares of 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. TD Cowen initiated coverage on shares of Sunnova Energy International in a report on Thursday, December 19th. They issued a “hold” rating and a $5.00 target price on the stock. Jefferies Financial Group initiated coverage on shares of Sunnova Energy International in a report on Thursday, October 10th. They issued a “buy” rating and a $15.00 target price on the stock. Citigroup cut their target price on shares of Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Finally, BNP Paribas cut shares of Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 target price on the stock. in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $9.60.

Sunnova Energy International Stock Performance

Shares of NOVA stock opened at $2.82 on Wednesday. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86. Sunnova Energy International has a one year low of $2.64 and a one year high of $13.00. The company’s 50-day simple moving average is $3.96 and its 200-day simple moving average is $6.46. The stock has a market capitalization of $351.74 million, a price-to-earnings ratio of -0.84 and a beta of 2.29.

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 the consensus estimate of ($0.53) by ($0.45). Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The company had revenue of $235.30 million for the quarter, compared to the consensus estimate of $238.23 million. During the same period in the previous year, the business posted ($0.53) EPS. The business’s revenue for the quarter was up 18.6% on a year-over-year basis. Equities analysts anticipate that Sunnova Energy International will post -2.57 earnings per share for the current fiscal year.

Insider Activity at Sunnova Energy International

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 price of $3.64 per share, for a total transaction of $182,000.00. Following the completion of the transaction, the director now owns 352,654 shares in the company, valued at $1,283,660.56. This represents a 16.52 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Eric Michael Williams purchased 13,800 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was acquired at an average price of $3.60 per share, for a total transaction of $49,680.00. Following the transaction, the chief financial officer now owns 13,800 shares of the company’s stock, valued at $49,680. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 118,517 shares of company stock worth $439,605 over the last quarter. 4.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NOVA. Erste Asset Management GmbH acquired a new position in Sunnova Energy International in the third quarter worth approximately $76,550,000. Sylebra Capital LLC grew its position in Sunnova Energy International by 125.6% in the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock worth $121,195,000 after buying an additional 6,926,399 shares during the last quarter. Handelsbanken Fonder AB grew its position in 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 last quarter. Sanctuary Advisors LLC acquired a new position in Sunnova Energy International in the 2nd quarter worth approximately $2,851,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Sunnova Energy International by 190.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 744,686 shares of the company’s stock worth $7,253,000 after purchasing an additional 488,623 shares during the period.

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.