Sunnova Energy International (NYSE:NOVA) Given New $6.00 Price Target at BMO Capital Markets

Sunnova Energy International (NYSE:NOVA) had its price target lowered by BMO Capital Markets from $10.00 to $6.00 in a research report report published on Friday, Benzinga reports. The firm currently has a market perform rating on the stock.

A number of other equities analysts also recently commented on NOVA. Wells Fargo & Company reiterated an equal weight rating and issued a $6.00 target price (down from $11.00) on shares of Sunnova Energy International in a report on Friday, April 19th. Susquehanna decreased their target price on shares of Sunnova Energy International from $20.00 to $12.00 and set a positive rating for the company in a research report on Friday, April 5th. KeyCorp downgraded Sunnova Energy International from an overweight rating to a sector weight rating in a research report on Tuesday, April 23rd. Mizuho lowered their price objective on Sunnova Energy International from $21.00 to $17.00 and set a buy rating for the company in a research report on Friday, April 19th. Finally, The Goldman Sachs Group reduced their target price on Sunnova Energy International from $14.00 to $12.00 and set a buy rating on the stock in a research report on Thursday, April 11th. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $16.71.

Sunnova Energy International Stock Up 8.4 %

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 firm has a market capitalization of $593.19 million, a price-to-earnings ratio of -1.42 and a beta of 2.15. The company’s 50-day moving average is $5.05 and its 200-day moving average is $9.11. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.58. Sunnova Energy International has a 52-week low of $3.37 and a 52-week high of $24.56.

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

Insider Buying and Selling

In related news, Director Akbar Mohamed purchased 152,450 shares of Sunnova Energy International stock in a transaction on Wednesday, February 28th. The shares were bought at an average price of $6.92 per share, with a total value of $1,054,954.00. Following the transaction, the director now directly owns 236,139 shares of the company’s stock, valued at $1,634,081.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Sunnova Energy International news, Director Akbar Mohamed purchased 152,450 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were bought 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 directly owns 236,139 shares in the company, valued at $1,634,081.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul S. Mathews sold 9,500 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $5.31, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 23,580 shares of company stock valued at $137,382 in the last three months. 4.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sunnova Energy International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Sunnova Energy International in the 1st quarter valued at $25,000. Manchester Capital Management LLC increased its stake in Sunnova Energy International by 2,959.7% in the fourth 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 period. First Trust Direct Indexing L.P. purchased a new stake in shares of Sunnova Energy International in the first quarter valued at about $66,000. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of 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 period. Finally, Allspring Global Investments Holdings LLC grew 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 during 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.