Sunnova Energy International (NYSE:NOVA) Rating Reiterated by Wells Fargo & Company

Wells Fargo & Company restated their equal weight rating on shares of Sunnova Energy International (NYSE:NOVA) in a report published on Friday, MarketBeat reports. Wells Fargo & Company currently has a $6.00 price target on the stock, down from their previous price target of $11.00.

Other analysts have also issued research reports about the company. Northland Securities reaffirmed a market perform rating and issued a $9.00 price target (down previously from $12.00) on shares of Sunnova Energy International in a research note on Friday, February 23rd. Susquehanna dropped their price target on Sunnova Energy International from $20.00 to $12.00 and set a positive rating for the company in a research note on Friday, April 5th. Janney Montgomery Scott raised Sunnova Energy International from a neutral rating to a buy rating and set a $12.00 price objective for the company in a research report on Friday, March 22nd. Morgan Stanley reissued an equal weight rating and set a $14.00 price objective (down previously from $24.00) on shares of Sunnova Energy International in a research report on Monday, March 4th. Finally, B. Riley lowered their price objective on Sunnova Energy International from $25.00 to $21.00 and set a buy rating for the company in a research report on Monday, February 5th. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Sunnova Energy International presently has a consensus rating of Moderate Buy and a consensus price target of $18.48.

Sunnova Energy International Stock Performance

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

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings results on Wednesday, February 21st. The company reported ($0.20) EPS 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 company had revenue of $194.18 million during the quarter, compared to analyst estimates of $226.09 million. As a group, research analysts expect that Sunnova Energy International will post -2.28 earnings per share for the current year.

Insider Activity

In related news, Director Akbar Mohamed purchased 152,450 shares of Sunnova Energy International stock in a transaction dated Wednesday, February 28th. The stock was purchased at an average cost of $6.92 per share, for a total transaction of $1,054,954.00. Following the completion of the acquisition, the director now directly 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 this link. In related news, insider Paul S. Mathews sold 9,500 shares of Sunnova Energy International stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $5.31, for a total value of $50,445.00. Following the completion of 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 available through this link. Also, Director Akbar Mohamed acquired 152,450 shares of Sunnova Energy International stock in a transaction that occurred on Wednesday, February 28th. The stock was acquired at an average price of $6.92 per share, with a total value of $1,054,954.00. Following the completion of the acquisition, the director now directly owns 236,139 shares in the company, valued at approximately $1,634,081.88. The disclosure for this purchase can be found here. Insiders sold 23,580 shares of company stock worth $137,382 over the last three months. 4.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sunnova Energy International

Several large investors have recently bought and sold shares of NOVA. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Sunnova Energy International by 2.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 45,491 shares of the company’s stock valued at $663,000 after purchasing an additional 1,094 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Sunnova Energy International by 3.6% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 44,397 shares of the company’s stock valued at $465,000 after purchasing an additional 1,528 shares during the period. DekaBank Deutsche Girozentrale grew its stake in shares of Sunnova Energy International by 8.0% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 20,898 shares of the company’s stock valued at $325,000 after purchasing an additional 1,554 shares during the period. Principal Financial Group Inc. grew its stake in shares of Sunnova Energy International by 14.0% during the 3rd quarter. Principal Financial Group Inc. now owns 12,893 shares of the company’s stock valued at $135,000 after purchasing an additional 1,584 shares during the period. Finally, Manchester Capital Management LLC grew its stake in shares of Sunnova Energy International by 2,959.7% during the 4th 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.

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.