Robert W. Baird Issues Pessimistic Forecast for Sunnova Energy International (NYSE:NOVA) Stock Price

Sunnova Energy International (NYSE:NOVA) had its target price reduced by equities researchers at Robert W. Baird from $12.00 to $9.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 167.06% from the stock’s current price.

Several other equities research analysts have also commented on the company. Morgan Stanley reduced their price objective on Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating for the company in a research note on Friday, November 15th. Royal Bank of Canada cut Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a research report on Monday, December 9th. The Goldman Sachs Group lowered their price objective on Sunnova Energy International from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday. 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 report on Wednesday, October 16th. Finally, Guggenheim lowered shares of Sunnova Energy International from a “buy” rating to a “neutral” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.24.

Sunnova Energy International Trading Down 6.9 %

Shares of NYSE:NOVA opened at $3.37 on Wednesday. The stock’s 50-day simple moving average is $4.81 and its two-hundred day simple moving average is $6.90. The stock has a market capitalization of $421.08 million, a price-to-earnings ratio of -1.01 and a beta of 2.22. Sunnova Energy International has a 52-week low of $2.99 and a 52-week high of $16.35. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.45). Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The business had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $238.23 million. During the same period in the previous year, the business posted ($0.53) EPS. The business’s quarterly revenue was up 18.6% compared to the same quarter last year. Analysts expect that Sunnova Energy International will post -2.44 EPS for the current year.

Insider Activity at Sunnova Energy International

In related news, Director Akbar Mohamed bought 50,000 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were purchased at an average price of $3.64 per share, with a total value of $182,000.00. Following the transaction, the director now owns 352,654 shares in the company, valued at $1,283,660.56. This trade represents a 16.52 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Eric Michael Williams purchased 13,800 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were bought at an average price of $3.60 per share, for a total transaction of $49,680.00. Following the acquisition, the chief financial officer now directly owns 13,800 shares in the company, valued at $49,680. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 118,517 shares of company stock valued at $439,605 over the last 90 days. 4.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NOVA. Presidio Capital Management LLC purchased a new position in shares of Sunnova Energy International during the 2nd quarter worth about $67,000. nVerses Capital LLC lifted 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 worth $70,000 after purchasing an additional 8,800 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of Sunnova Energy International during the second quarter valued at approximately $78,000. AE Wealth Management LLC bought a new position in shares of Sunnova Energy International during the second quarter valued at approximately $81,000. Finally, GAMMA Investing LLC raised its holdings in shares of Sunnova Energy International by 736.3% in the third quarter. GAMMA Investing LLC now owns 8,756 shares of the company’s stock worth $85,000 after buying an additional 7,709 shares during the period.

About Sunnova Energy International

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.