The Goldman Sachs Group Lowers Sunnova Energy International (NYSE:NOVA) Price Target to $11.00

Sunnova Energy International (NYSE:NOVA) had its target price lowered by equities research analysts at The Goldman Sachs Group from $12.00 to $11.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 203.87% from the stock’s current price.

A number of other research analysts have also commented on NOVA. Deutsche Bank Aktiengesellschaft lowered their price target on Sunnova Energy International from $9.00 to $6.25 and set a “hold” rating on the stock in a report on Friday, November 1st. Royal Bank of Canada cut shares of Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a research note on Monday, December 9th. Wolfe Research lowered shares of Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Piper Sandler lowered their price objective on shares of Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating on the stock in a research note on Friday, November 22nd. Finally, Morgan Stanley cut their target price on Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating for the company in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $10.49.

Sunnova Energy International Trading Down 13.8 %

Sunnova Energy International stock opened at $3.62 on Tuesday. Sunnova Energy International has a 1 year low of $2.99 and a 1 year high of $16.35. The firm’s 50-day moving average is $4.87 and its 200-day moving average is $6.92. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $452.32 million, a P/E ratio of -1.08 and a beta of 2.22.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.98) 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 company had revenue of $235.30 million for the quarter, compared to the consensus estimate of $238.23 million. During the same quarter in the previous year, the company earned ($0.53) earnings per share. Sunnova Energy International’s quarterly revenue was up 18.6% compared to the same quarter last year. On average, equities analysts expect that Sunnova Energy International will post -2.44 earnings per share for the current year.

Insider Buying and Selling at Sunnova Energy International

In related news, Director Akbar Mohamed purchased 54,717 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were purchased at an average price of $3.80 per share, with a total value of $207,924.60. Following the acquisition, the director now directly owns 302,654 shares in the company, valued at $1,150,085.20. The trade was a 22.07 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Eric Michael Williams purchased 13,800 shares of the company’s stock in a transaction on Monday, November 18th. The stock was purchased at an average price of $3.60 per share, with a total value of $49,680.00. Following the completion of the transaction, the chief financial officer now owns 13,800 shares of the company’s stock, valued at approximately $49,680. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 118,517 shares of company stock valued at $439,605. 4.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sunnova Energy International

Several large investors have recently modified their holdings of the stock. SG Americas Securities LLC lifted its holdings in shares of Sunnova Energy International by 55.8% in the 2nd quarter. SG Americas Securities LLC now owns 54,783 shares of the company’s stock worth $306,000 after buying an additional 19,615 shares during the period. Nisa Investment Advisors LLC raised its position in Sunnova Energy International by 87,558.3% during the second quarter. Nisa Investment Advisors LLC now owns 105,190 shares of the company’s stock valued at $587,000 after acquiring an additional 105,070 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Sunnova Energy International by 13.9% in the second quarter. Bank of New York Mellon Corp now owns 394,812 shares of the company’s stock valued at $2,203,000 after acquiring an additional 48,119 shares during the period. Presidio Capital Management LLC purchased a new position in Sunnova Energy International in the second quarter valued at $67,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in Sunnova Energy International by 136.6% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 237,203 shares of the company’s stock worth $1,324,000 after purchasing an additional 136,968 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.