Deutsche Bank Aktiengesellschaft Cuts Sunnova Energy International (NYSE:NOVA) Price Target to $6.25

Sunnova Energy International (NYSE:NOVA) had its target price reduced by equities research analysts at Deutsche Bank Aktiengesellschaft from $9.00 to $6.25 in a research note issued on Friday, Benzinga reports. The firm currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 0.64% from the company’s current price.

A number of other analysts have also weighed in on the stock. Susquehanna increased their target price on shares of Sunnova Energy International from $12.00 to $14.00 and gave the stock a “positive” rating in a report on Friday, August 2nd. Truist Financial boosted their target price on Sunnova Energy International from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Guggenheim lifted their price target on shares of Sunnova Energy International from $7.00 to $10.00 and gave the company a “buy” rating in a report on Friday, July 26th. Piper Sandler increased their price target on shares of Sunnova Energy International from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Finally, BMO Capital Markets boosted their price objective on shares of Sunnova Energy International from $9.00 to $10.00 and gave the stock a “market perform” rating in a research note on Monday, October 14th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.71.

Sunnova Energy International Trading Up 2.3 %

Shares of NOVA stock traded up $0.14 on Friday, hitting $6.21. 1,110,209 shares of the company’s stock traded hands, compared to its average volume of 7,725,822. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market capitalization of $775.38 million, a price-to-earnings ratio of -1.82 and a beta of 2.21. The company’s fifty day simple moving average is $8.80 and its 200 day simple moving average is $6.85. Sunnova Energy International has a one year low of $3.37 and a one year high of $16.35.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate 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 company had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $238.23 million. During the same quarter in the prior year, the firm posted ($0.53) EPS. The firm’s quarterly revenue was up 18.6% on a year-over-year basis. Equities analysts forecast that Sunnova Energy International will post -1.99 EPS for the current year.

Insider Activity

In other Sunnova Energy International news, insider William J. Berger sold 77,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $11.31, for a total value of $870,870.00. Following the completion of the sale, the insider now owns 409,045 shares of the company’s stock, valued at $4,626,298.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Sunnova Energy International

A number of hedge funds have recently added to or reduced their stakes in NOVA. First Affirmative Financial Network raised its position in Sunnova Energy International by 12.9% during the 2nd quarter. First Affirmative Financial Network now owns 14,829 shares of the company’s stock valued at $83,000 after purchasing an additional 1,691 shares in the last quarter. First Trust Direct Indexing L.P. grew its holdings in Sunnova Energy International by 11.6% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 19,373 shares of the company’s stock worth $189,000 after acquiring an additional 2,016 shares in the last quarter. Ballentine Partners LLC raised its holdings in shares of Sunnova Energy International by 15.9% in the 3rd quarter. Ballentine Partners LLC now owns 21,515 shares of the company’s stock valued at $210,000 after purchasing an additional 2,956 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Sunnova Energy International by 37,400.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,000 shares of the company’s stock worth $308,000 after purchasing an additional 2,992 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Sunnova Energy International by 6.7% in the second quarter. The Manufacturers Life Insurance Company now owns 56,487 shares of the company’s stock worth $315,000 after buying an additional 3,559 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.