Sunnova Energy International (NYSE:NOVA) Trading Down 4.8% Following Analyst Downgrade

Shares of Sunnova Energy International Inc. (NYSE:NOVA) fell 4.8% on Friday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $9.00 to $6.25. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Sunnova Energy International traded as low as $5.74 and last traded at $5.78. 4,445,221 shares changed hands during trading, a decline of 43% from the average session volume of 7,741,553 shares. The stock had previously closed at $6.07.

Several other equities analysts also recently issued reports on NOVA. Susquehanna raised their price target on shares of Sunnova Energy International from $12.00 to $14.00 and gave the company a “positive” rating in a research note on Friday, August 2nd. Wells Fargo & Company lifted their target price on Sunnova Energy International from $6.00 to $9.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 6th. Jefferies Financial Group assumed coverage on Sunnova Energy International in a research note on Thursday, October 10th. They issued a “buy” rating and a $15.00 price objective on the stock. Scotiabank increased their target price on shares of Sunnova Energy International from $10.00 to $14.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 6th. Finally, Barclays dropped their price target on shares of Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $11.61.

Insider Activity at Sunnova Energy International

In other Sunnova Energy International news, insider William J. Berger sold 77,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $11.31, for a total transaction of $870,870.00. Following the transaction, the insider now owns 409,045 shares in the company, valued at approximately $4,626,298.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sunnova Energy International

Hedge funds have recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Sunnova Energy International by 56.7% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 14,142,487 shares of the company’s stock valued at $78,915,000 after purchasing an additional 5,118,552 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Sunnova Energy International by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 10,568,045 shares of the company’s stock worth $64,782,000 after buying an additional 81,653 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Sunnova Energy International by 9.1% in the 3rd 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. Sylebra Capital LLC bought a new position in shares of Sunnova Energy International in the second quarter valued at approximately $30,783,000. Finally, Electron Capital Partners LLC grew its holdings in shares of Sunnova Energy International by 24.5% in the second quarter. Electron Capital Partners LLC now owns 3,004,938 shares of the company’s stock valued at $16,768,000 after acquiring an additional 591,514 shares in the last quarter.

Sunnova Energy International Stock Down 4.8 %

The stock has a 50-day moving average of $8.80 and a 200 day moving average of $6.85. The company has a market capitalization of $721.69 million, a PE ratio of -1.75 and a beta of 2.21. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 3.11.

Sunnova Energy International (NYSE:NOVA) last released its 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 return on equity of 11.46% and a negative net margin of 51.02%. The business had revenue of $235.30 million for the quarter, compared to the consensus estimate of $238.23 million. During the same quarter in the previous year, the firm earned ($0.53) earnings per share. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. Sell-side analysts anticipate that Sunnova Energy International Inc. will post -1.99 EPS for the current year.

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.