Sunnova Energy International (NYSE:NOVA) PT Lowered to $17.00 at Mizuho

Sunnova Energy International (NYSE:NOVA) had its target price lowered by Mizuho from $21.00 to $17.00 in a report issued on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also weighed in on NOVA. Evercore ISI reduced their price objective on shares of Sunnova Energy International from $29.00 to $26.00 and set an outperform rating for the company in a research note on Friday, February 23rd. Wells Fargo & Company restated an equal weight rating and set a $6.00 target price (down from $11.00) on shares of Sunnova Energy International in a research report on Friday. The Goldman Sachs Group cut their target price on shares of Sunnova Energy International from $14.00 to $12.00 and set a buy rating for the company in a research report on Thursday, April 11th. Morgan Stanley restated an equal weight rating and set a $14.00 target price (down from $24.00) on shares of Sunnova Energy International in a research report on Monday, March 4th. Finally, Truist Financial reaffirmed a buy rating and set a $16.00 price target (down previously from $18.00) on shares of Sunnova Energy International in a report on Monday, February 26th. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $18.48.

Sunnova Energy International Price Performance

NOVA stock opened at $3.82 on Friday. The firm has a market cap of $472.45 million, a P/E ratio of -1.09 and a beta of 2.08. Sunnova Energy International has a 52 week low of $3.52 and a 52 week high of $24.56. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.85 and a current ratio of 0.85. The firm’s fifty day moving average is $6.23 and its 200 day moving average is $9.47.

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

Insider Buying and Selling

In other news, Director Akbar Mohamed acquired 152,450 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were acquired at an average price of $6.92 per share, with a total value of $1,054,954.00. Following the purchase, the director now directly owns 236,139 shares of the company’s stock, valued at $1,634,081.88. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Akbar Mohamed acquired 152,450 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were bought at an average price of $6.92 per share, for a total transaction of $1,054,954.00. Following the acquisition, the director now owns 236,139 shares of the company’s stock, valued at approximately $1,634,081.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul S. Mathews sold 9,500 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $74,377.17. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,580 shares of company stock worth $137,382. 4.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Manchester Capital Management LLC increased its stake in Sunnova Energy International by 2,959.7% during the fourth quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock worth $29,000 after purchasing an additional 1,835 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Sunnova Energy International by 158.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,036 shares of the company’s stock valued at $74,000 after purchasing an additional 4,310 shares in the last quarter. Headlands Technologies LLC acquired a new position in Sunnova Energy International in the fourth quarter valued at approximately $157,000. Ballentine Partners LLC acquired a new position in Sunnova Energy International in the fourth quarter valued at approximately $161,000. Finally, First Trust Direct Indexing L.P. acquired a new position in Sunnova Energy International in the first quarter valued at approximately $66,000.

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.