Sunnova Energy International (NYSE:NOVA) Sets New 52-Week Low Following Analyst Downgrade

Sunnova Energy International Inc. (NYSE:NOVA)’s stock price hit a new 52-week low during mid-day trading on Friday after Mizuho lowered their price target on the stock from $21.00 to $17.00. Mizuho currently has a buy rating on the stock. Sunnova Energy International traded as low as $3.52 and last traded at $4.04, with a volume of 4812215 shares trading hands. The stock had previously closed at $3.78.

Other equities research analysts have also issued reports about the company. Morgan Stanley reaffirmed an “equal weight” rating and issued a $14.00 price objective (down from $24.00) on shares of Sunnova Energy International in a research note on Monday, March 4th. Truist Financial restated a “buy” rating and issued a $16.00 price target (down from $18.00) on shares of Sunnova Energy International in a research report on Monday, February 26th. Wells Fargo & Company reissued an “equal weight” rating and issued a $6.00 target price (down previously from $11.00) on shares of Sunnova Energy International in a research note on Friday. B. Riley lowered their target price on shares of Sunnova Energy International from $25.00 to $21.00 and set a “buy” rating for the company in a report on Monday, February 5th. Finally, Susquehanna cut their price target on shares of Sunnova Energy International from $20.00 to $12.00 and set a “positive” rating on the stock in a report on Friday, April 5th. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.73.

Insider Activity at Sunnova Energy International

In other news, Director Akbar Mohamed acquired 152,450 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were acquired at an average cost of $6.92 per share, with a total value of $1,054,954.00. Following the completion of the acquisition, the director now owns 236,139 shares of the company’s stock, valued at $1,634,081.88. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Sunnova Energy International news, Director Akbar Mohamed acquired 152,450 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was acquired at an average cost of $6.92 per share, for a total transaction of $1,054,954.00. Following the purchase, the director now owns 236,139 shares in the company, valued at approximately $1,634,081.88. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jack O. Lynch III sold 12,994 shares of the stock in a transaction on Thursday, March 7th. The stock was 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. Insiders have sold a total of 23,580 shares of company stock valued at $137,382 in the last ninety days. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Sunnova Energy International

Several hedge funds have recently bought and sold shares of the stock. Advisor Group Holdings Inc. increased its stake in Sunnova Energy International by 23.4% during the 1st quarter. Advisor Group Holdings Inc. now owns 4,788 shares of the company’s stock worth $387,000 after buying an additional 907 shares in the last quarter. Raymond James & Associates grew its position in shares of Sunnova Energy International by 185.3% in the first quarter. Raymond James & Associates now owns 41,819 shares of the company’s stock valued at $964,000 after purchasing an additional 27,160 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Sunnova Energy International by 199.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 47,501 shares of the company’s stock worth $1,095,000 after buying an additional 31,646 shares during the last quarter. US Bancorp DE grew its holdings in Sunnova Energy International by 168.8% in the 1st quarter. US Bancorp DE now owns 2,809 shares of the company’s stock valued at $65,000 after buying an additional 1,764 shares in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in shares of Sunnova Energy International by 53.6% during the 1st quarter. MetLife Investment Management LLC now owns 47,065 shares of the company’s stock worth $1,085,000 after acquiring an additional 16,426 shares during the period.

Sunnova Energy International Stock Down 0.3 %

The company has a debt-to-equity ratio of 3.58, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $466.88 million, a PE ratio of -1.10 and a beta of 2.08. The business’s 50 day simple moving average is $6.56 and its 200 day simple moving average is $9.55.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings results on Wednesday, February 21st. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.04. Sunnova Energy International had a negative return on equity of 13.26% and a negative net margin of 58.00%. The business had revenue of $194.18 million during the quarter, compared to analysts’ expectations of $226.09 million. As a group, analysts anticipate that Sunnova Energy International Inc. will post -2.28 earnings per share for the current fiscal year.

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.