Sunnova Energy International (NYSE:NOVA) Rating Lowered to Hold at Wolfe Research

Sunnova Energy International (NYSE:NOVA) was downgraded by investment analysts at Wolfe Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday, Zacks.com reports.

A number of other analysts have also issued reports on the company. Piper Sandler raised their target price on Sunnova Energy International from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Guggenheim raised their price target on shares of Sunnova Energy International from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Barclays reduced their target price on shares of Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Scotiabank upped their price target on Sunnova Energy International from $10.00 to $14.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 6th. Finally, Jefferies Financial Group began coverage on Sunnova Energy International in a report on Thursday, October 10th. They set a “buy” rating and a $15.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Sunnova Energy International has an average rating of “Moderate Buy” and a consensus target price of $11.61.

Sunnova Energy International Price Performance

Shares of NYSE:NOVA opened at $7.07 on Monday. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $882.14 million, a P/E ratio of -2.11 and a beta of 2.26. The business has a 50-day moving average of $8.59 and a two-hundred day moving average of $6.93. Sunnova Energy International has a fifty-two week low of $3.37 and a fifty-two week high of $16.35.

Sunnova Energy International (NYSE:NOVA) last announced 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). The company had revenue of $235.30 million for the quarter, compared to analyst estimates of $238.23 million. Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.53) EPS. On average, equities research analysts predict that Sunnova Energy International will post -2 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider William J. Berger sold 77,000 shares of Sunnova Energy International stock in a transaction that occurred 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 completion of the sale, the insider now owns 409,045 shares in the company, valued at $4,626,298.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Sunnova Energy International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NOVA. Peoples Bank KS bought a new position in Sunnova Energy International during the 2nd quarter worth approximately $56,000. Caxton Associates LP bought a new stake in shares of Sunnova Energy International in the 1st quarter valued at $62,000. First Trust Direct Indexing L.P. acquired a new stake in Sunnova Energy International during the 1st quarter worth $66,000. Presidio Capital Management LLC bought a new position in Sunnova Energy International during the second quarter worth about $67,000. Finally, nVerses Capital LLC grew its stake in Sunnova Energy International by 237.8% in the second quarter. nVerses Capital LLC now owns 12,500 shares of the company’s stock valued at $70,000 after acquiring an additional 8,800 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.