Weekly Analysts’ Ratings Changes for Sunnova Energy International (NOVA)

Sunnova Energy International (NYSE: NOVA) recently received a number of ratings updates from brokerages and research firms:

• 4/23/2024 – Sunnova Energy International was downgraded by analysts at KeyCorp from an “overweight” rating to a “sector weight” rating.
• 4/22/2024 – Sunnova Energy International had its price target lowered by analysts at B. Riley from $21.00 to $15.00. They now have a “buy” rating on the stock.
• 4/19/2024 – Sunnova Energy International had its “equal weight” rating reaffirmed by analysts at Wells Fargo & Company. They now have a $6.00 price target on the stock, down previously from $11.00.
• 4/19/2024 – Sunnova Energy International had its price target lowered by analysts at Mizuho from $21.00 to $17.00. They now have a “buy” rating on the stock.
• 4/11/2024 – Sunnova Energy International had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $14.00 to $12.00. They now have a “buy” rating on the stock.
• 4/5/2024 – Sunnova Energy International had its price target lowered by analysts at Susquehanna from $20.00 to $12.00. They now have a “positive” rating on the stock.
• 3/22/2024 – Sunnova Energy International was upgraded by analysts at Janney Montgomery Scott from a “neutral” rating to a “buy” rating. They now have a $12.00 price target on the stock.
• 3/21/2024 – Sunnova Energy International had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $16.00 to $14.00. They now have a “buy” rating on the stock.
• 3/4/2024 – Sunnova Energy International had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $14.00 price target on the stock, down previously from $24.00.
• 2/27/2024 – Sunnova Energy International was downgraded by analysts at Janney Montgomery Scott from a “buy” rating to a “neutral” rating.
• 2/27/2024 – Sunnova Energy International had its price target lowered by analysts at Mizuho from $25.00 to $21.00. They now have a “buy” rating on the stock.
• 2/26/2024 – Sunnova Energy International had its price target lowered by analysts at Susquehanna from $25.00 to $20.00. They now have a “positive” rating on the stock.
• 2/26/2024 – Sunnova Energy International had its “buy” rating reaffirmed by analysts at Truist Financial Co.. They now have a $16.00 price target on the stock, down previously from $18.00.

Sunnova Energy International Stock Performance

Sunnova Energy International stock traded up $0.32 during midday trading on Friday, hitting $4.00. The stock had a trading volume of 7,430,899 shares, compared to its average volume of 9,064,346. The firm’s fifty day moving average is $5.78 and its two-hundred day moving average is $9.36. The company has a market capitalization of $495.36 million, a PE ratio of -1.14 and a beta of 2.08. Sunnova Energy International Inc. has a 52-week low of $3.52 and a 52-week high of $24.56. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.58.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings data on Wednesday, February 21st. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.04. Sunnova Energy International had a negative net margin of 58.00% and a negative return on equity of 13.26%. The business had revenue of $194.18 million during the quarter, compared to analyst estimates of $226.09 million. On average, research analysts forecast that Sunnova Energy International Inc. will post -2.37 EPS for the current year.

Insider Activity

In other news, Director Akbar Mohamed bought 152,450 shares of the stock in a transaction dated Wednesday, February 28th. The stock was 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 owns 236,139 shares of the company’s stock, valued at $1,634,081.88. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Akbar Mohamed purchased 152,450 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was bought at an average cost of $6.92 per share, for a total transaction of $1,054,954.00. Following the completion of the transaction, the director now directly owns 236,139 shares in the company, valued at $1,634,081.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul S. Mathews sold 9,500 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $5.31, for a total value of $50,445.00. Following the completion of the sale, the insider now owns 14,007 shares of the company’s stock, valued at $74,377.17. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,580 shares of company stock worth $137,382. 4.50% of the stock is currently owned by insiders.

Institutional Trading of Sunnova Energy International

Several institutional investors and hedge funds have recently made changes to their positions in NOVA. Ballentine Partners LLC purchased a new position in shares of Sunnova Energy International during the fourth quarter valued at $161,000. Vanguard Group Inc. increased its position in shares of Sunnova Energy International by 3.8% in the third quarter. Vanguard Group Inc. now owns 10,270,487 shares of the company’s stock valued at $107,532,000 after buying an additional 379,032 shares in the last quarter. Dark Forest Capital Management LP purchased a new stake in shares of Sunnova Energy International in the third quarter valued at approximately $593,000. Money Concepts Capital Corp increased its position in shares of Sunnova Energy International by 20.3% in the third quarter. Money Concepts Capital Corp now owns 634,117 shares of the company’s stock valued at $6,639,000 after buying an additional 106,819 shares in the last quarter. Finally, Quantbot Technologies LP increased its position in shares of Sunnova Energy International by 21.8% in 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 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.