BMO Capital Markets Cuts Sunnova Energy International (NYSE:NOVA) Price Target to $6.00

Sunnova Energy International (NYSE:NOVA) had its target price cut by BMO Capital Markets from $10.00 to $6.00 in a research note released on Friday, Benzinga reports. They currently have a market perform rating on the stock.

Several other research analysts have also recently commented on NOVA. Northland Securities reiterated a market perform rating and issued a $9.00 target price (down from $12.00) on shares of Sunnova Energy International in a report on Friday, February 23rd. KeyCorp cut shares of Sunnova Energy International from an overweight rating to a sector weight rating in a research report on Tuesday, April 23rd. Wells Fargo & Company restated an equal weight rating and issued a $6.00 target price (down previously from $11.00) on shares of Sunnova Energy International in a report on Friday, April 19th. The Goldman Sachs Group lowered their price target on Sunnova Energy International from $14.00 to $12.00 and set a buy rating on the stock in a report on Thursday, April 11th. Finally, Susquehanna reduced their price objective on Sunnova Energy International from $20.00 to $12.00 and set a positive rating for the company in a research note on Friday, April 5th. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $16.71.

Sunnova Energy International Price Performance

Shares of NOVA traded up $0.37 during mid-day trading on Friday, hitting $4.79. The company’s stock had a trading volume of 15,122,585 shares, compared to its average volume of 9,639,226. The company has a debt-to-equity ratio of 3.58, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a 50-day moving average price of $5.05 and a 200 day moving average price of $9.11. Sunnova Energy International has a fifty-two week low of $3.37 and a fifty-two week high of $24.56. The stock has a market capitalization of $593.19 million, a price-to-earnings ratio of -1.42 and a beta of 2.15.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.57) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.79) by $0.22. Sunnova Energy International had a negative return on equity of 12.35% and a negative net margin of 56.52%. The company had revenue of $160.90 million for the quarter, compared to analysts’ expectations of $193.78 million. During the same quarter in the prior year, the company earned ($0.70) earnings per share. The firm’s revenue was down .5% on a year-over-year basis. On average, research analysts predict that Sunnova Energy International will post -2.39 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Sunnova Energy International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Sunnova Energy International in the first quarter valued at $25,000. Manchester Capital Management LLC lifted its holdings in Sunnova Energy International by 2,959.7% during the 4th quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock valued at $29,000 after purchasing an additional 1,835 shares during the last quarter. First Trust Direct Indexing L.P. acquired a new position in Sunnova Energy International in the first quarter valued at about $66,000. BI Asset Management Fondsmaeglerselskab A S grew its stake in Sunnova Energy International by 129.9% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,788 shares of the company’s stock worth $72,000 after buying an additional 6,661 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Sunnova Energy International by 158.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,036 shares of the company’s stock worth $74,000 after buying an additional 4,310 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.