Evercore ISI Lowers Sunnova Energy International (NYSE:NOVA) Price Target to $17.00

Sunnova Energy International (NYSE:NOVA) had its price target lowered by Evercore ISI from $26.00 to $17.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other analysts have also weighed in on the company. Scotiabank reduced their price objective on Sunnova Energy International from $20.00 to $10.00 and set a sector outperform rating on the stock in a research note on Monday, April 29th. Mizuho decreased their price target on shares of Sunnova Energy International from $21.00 to $17.00 and set a buy rating on the stock in a report on Friday, April 19th. Northland Securities reissued a market perform rating and issued a $9.00 price objective (down previously from $12.00) on shares of Sunnova Energy International in a research note on Friday, February 23rd. Janney Montgomery Scott raised shares of Sunnova Energy International from a neutral rating to a buy rating and set a $12.00 target price on the stock in a research note on Friday, March 22nd. Finally, Truist Financial dropped their price target on Sunnova Energy International from $16.00 to $9.00 and set a buy rating for the company in a research note on Tuesday, April 30th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $16.71.

Sunnova Energy International Stock Down 2.5 %

Shares of Sunnova Energy International stock opened at $4.67 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 3.41. Sunnova Energy International has a 12-month low of $3.37 and a 12-month high of $24.56. The firm’s 50-day moving average price is $5.05 and its two-hundred day moving average price is $9.09.

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, topping the consensus estimate of ($0.79) by $0.22. Sunnova Energy International had a negative net margin of 56.52% and a negative return on equity of 12.10%. The business had revenue of $160.90 million for the quarter, compared to analyst estimates of $193.78 million. During the same quarter last year, the business posted ($0.70) EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. As a group, sell-side analysts predict that Sunnova Energy International will post -2.39 earnings per share for the current year.

Insiders Place Their Bets

In other Sunnova Energy International news, insider Paul S. Mathews sold 9,500 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $5.31, for a total value of $50,445.00. Following the sale, the insider now directly owns 14,007 shares in the company, valued at approximately $74,377.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Sunnova Energy International news, insider Paul S. Mathews sold 9,500 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $5.31, for a total value of $50,445.00. Following the completion of the transaction, the insider now owns 14,007 shares of the company’s stock, valued at approximately $74,377.17. The transaction was disclosed in a filing with the SEC, which is available 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 shares were 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. Over the last 90 days, insiders have sold 23,580 shares of company stock valued at $137,382. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Sunnova Energy International

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC boosted its stake in Sunnova Energy International by 43.6% in the first quarter. SG Americas Securities LLC now owns 35,168 shares of the company’s stock worth $216,000 after buying an additional 10,682 shares in the last quarter. Kayne Anderson Capital Advisors LP bought a new position in shares of Sunnova Energy International during the 1st quarter valued at $1,846,000. GSA Capital Partners LLP raised its position in Sunnova Energy International by 100.5% in the 1st quarter. GSA Capital Partners LLP now owns 109,710 shares of the company’s stock worth $673,000 after purchasing an additional 55,000 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its stake in Sunnova Energy International by 129.9% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,788 shares of the company’s stock worth $72,000 after purchasing an additional 6,661 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Sunnova Energy International by 7.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 102,766 shares of the company’s stock valued at $630,000 after buying an additional 6,751 shares during the period.

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.