Sunnova Energy International (NYSE:NOVA) Price Target Lowered to $50.00 at Raymond James


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Sunnova Energy International (NYSE:NOVA) had its price objective dropped by equities researchers at Raymond James from $55.00 to $50.00 in a research report issued to clients and investors on Thursday, Stock Target Advisor reports. The firm presently has an “outperform” rating on the stock. Raymond James’ price target would suggest a potential upside of 42.69% from the company’s previous close.

Several other research firms have also recently commented on NOVA. B. Riley lifted their price target on Sunnova Energy International from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday, February 19th. Credit Suisse Group raised shares of Sunnova Energy International from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $48.00 to $56.00 in a research report on Thursday, March 4th. JMP Securities lifted their price target on shares of Sunnova Energy International from $53.00 to $66.00 in a report on Monday, January 4th. JPMorgan Chase & Co. dropped their price objective on Sunnova Energy International from $60.00 to $51.00 and set an “overweight” rating for the company in a report on Monday, March 8th. Finally, The Goldman Sachs Group increased their target price on Sunnova Energy International from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, January 5th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $49.08.

Shares of NOVA traded down $0.61 on Thursday, hitting $35.04. 4,282 shares of the stock traded hands, compared to its average volume of 2,464,634. Sunnova Energy International has a 1 year low of $9.98 and a 1 year high of $57.70. The stock’s 50 day moving average is $40.08 and its two-hundred day moving average is $42.31. The firm has a market capitalization of $3.79 billion, a P/E ratio of -17.10 and a beta of 2.19. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 2.05.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings results on Wednesday, February 24th. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.59). The business had revenue of $38.02 million for the quarter, compared to analysts’ expectations of $42.41 million. Sunnova Energy International had a negative return on equity of 18.35% and a negative net margin of 113.82%. Research analysts forecast that Sunnova Energy International will post -1.69 EPS for the current year.

In other Sunnova Energy International news, insider Kris W. Hillstrand sold 88,320 shares of the company’s stock in a transaction that occurred on Tuesday, February 9th. The stock was sold at an average price of $49.28, for a total value of $4,352,409.60. Following the completion of the transaction, the insider now owns 61,142 shares in the company, valued at approximately $3,013,077.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Walter A. Baker sold 4,395 shares of the stock in a transaction that occurred on Monday, March 15th. The shares were sold at an average price of $41.78, for a total transaction of $183,623.10. Insiders sold 162,923 shares of company stock worth $7,728,390 over the last three months.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in Sunnova Energy International by 146.6% in the 4th quarter. BlackRock Inc. now owns 9,581,200 shares of the company’s stock worth $432,399,000 after buying an additional 5,695,606 shares in the last quarter. Caas Capital Management LP purchased a new stake in shares of Sunnova Energy International during the fourth quarter worth about $28,832,000. Kayne Anderson Capital Advisors LP acquired a new position in shares of Sunnova Energy International in the fourth quarter worth about $27,628,000. First Trust Advisors LP lifted its stake in shares of Sunnova Energy International by 179.7% in the fourth quarter. First Trust Advisors LP now owns 809,163 shares of the company’s stock worth $36,518,000 after acquiring an additional 519,901 shares in the last quarter. Finally, Eaton Vance Management purchased a new position in Sunnova Energy International in the fourth quarter valued at about $20,073,000. 91.86% of the stock is owned by institutional investors and hedge funds.

About Sunnova Energy International

Sunnova Energy International Inc, together with its subsidiaries, provides residential solar and energy storage services in the United States. The company offers operations and maintenance, monitoring, repairs and replacements, equipment upgrades, on-site power optimization, and diagnostics services.

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