Sunnova Energy International (NYSE:NOVA) Downgraded by Piper Sandler to “Neutral”

Piper Sandler lowered shares of Sunnova Energy International (NYSE:NOVA) from an overweight rating to a neutral rating in a research note published on Tuesday, MarketBeat reports. They currently have $4.50 price target on the stock, down from their previous price target of $9.00.

A number of other brokerages also recently commented on NOVA. Truist Financial lowered their target price on shares of Sunnova Energy International from $16.00 to $9.00 and set a buy rating for the company in a research note on Tuesday, April 30th. Janney Montgomery Scott raised Sunnova Energy International from a neutral rating to a buy rating and set a $12.00 price objective for the company in a research note on Friday, March 22nd. Evercore ISI decreased their price target on Sunnova Energy International from $26.00 to $17.00 and set an outperform rating on the stock in a research note on Friday, May 3rd. B. Riley decreased their target price on shares of Sunnova Energy International from $21.00 to $15.00 and set a buy rating on the stock in a research report on Monday, April 22nd. Finally, Wells Fargo & Company reiterated an equal weight rating and issued a $6.00 price objective (down previously from $11.00) on shares of Sunnova Energy International in a research note on Friday, April 19th. Eight equities research 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 company. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $15.88.

Sunnova Energy International Stock Up 5.9 %

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 business has a 50-day moving average price of $4.58 and a 200 day moving average price of $8.60. The company has a debt-to-equity ratio of 3.41, a current ratio of 0.74 and a quick ratio of 0.74.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.57) EPS for the quarter, beating the consensus estimate of ($0.79) by $0.22. The business had revenue of $160.90 million during the quarter, compared to analyst estimates of $193.78 million. Sunnova Energy International had a negative net margin of 56.52% and a negative return on equity of 12.10%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.70) earnings per share. As a group, analysts expect that Sunnova Energy International will post -1.9 EPS for the current year.

Insider Transactions at Sunnova Energy International

In other Sunnova Energy International news, Director Akbar Mohamed bought 152,450 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were purchased at an average cost of $6.92 per share, for a total transaction of $1,054,954.00. Following the transaction, the director now directly owns 236,139 shares in the company, valued at $1,634,081.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Akbar Mohamed purchased 152,450 shares of Sunnova Energy International stock in a transaction dated Wednesday, February 28th. The stock was bought at an average cost of $6.92 per share, with a total value of $1,054,954.00. Following the purchase, the director now owns 236,139 shares in the company, valued at approximately $1,634,081.88. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jack O. Lynch III sold 12,994 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $6.21, for a total value of $80,692.74. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,580 shares of company stock worth $137,382. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Ballentine Partners LLC bought a new stake in Sunnova Energy International in the fourth quarter worth approximately $161,000. Vanguard Group Inc. lifted its stake in shares of Sunnova Energy International by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 10,270,487 shares of the company’s stock valued at $107,532,000 after purchasing an additional 379,032 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Sunnova Energy International by 124.4% in the fourth quarter. Van ECK Associates Corp now owns 1,563,320 shares of the company’s stock worth $23,841,000 after purchasing an additional 866,705 shares in the last quarter. Dark Forest Capital Management LP acquired a new position in Sunnova Energy International during the third quarter worth $593,000. Finally, Quantbot Technologies LP raised its holdings in Sunnova Energy International by 21.8% during the third quarter. Quantbot Technologies LP now owns 188,150 shares of the company’s stock valued at $1,970,000 after buying an additional 33,629 shares in 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.