Robert W. Baird Lowers Sunnova Energy International (NYSE:NOVA) Price Target to $12.00

Sunnova Energy International (NYSE:NOVA) had its price objective cut by Robert W. Baird from $14.00 to $12.00 in a research note released on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also weighed in on the stock. Scotiabank cut their price objective on shares of Sunnova Energy International from $20.00 to $10.00 and set a sector outperform rating for the company in a research report on Monday, April 29th. KeyCorp downgraded Sunnova Energy International from an overweight rating to a sector weight rating in a report on Tuesday, April 23rd. Janney Montgomery Scott raised Sunnova Energy International from a neutral rating to a buy rating and set a $12.00 price target on the stock in a research note on Friday, March 22nd. Northland Securities reaffirmed 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 report on Friday, February 23rd. Finally, Truist Financial reduced their target price on Sunnova Energy International from $16.00 to $9.00 and set a buy rating on the stock in a research report on Tuesday, April 30th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Sunnova Energy International has an average rating of Moderate Buy and an average price target of $16.71.

Sunnova Energy International Price Performance

NYSE NOVA traded down $0.12 during mid-day trading on Friday, hitting $4.67. The stock had a trading volume of 6,384,788 shares, compared to its average volume of 9,362,332. The company has a 50 day simple moving average of $5.05 and a 200 day simple moving average of $9.09. The company has a market cap of $578.99 million, a price-to-earnings ratio of -1.42 and a beta of 2.15. Sunnova Energy International has a 52-week low of $3.37 and a 52-week high of $24.56. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 3.41.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.57) EPS for the quarter, topping the consensus estimate of ($0.79) by $0.22. The business had revenue of $160.90 million for the quarter, compared to analyst estimates of $193.78 million. Sunnova Energy International had a negative net margin of 56.52% and a negative return on equity of 12.10%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.70) EPS. Equities analysts forecast that Sunnova Energy International will post -2.39 EPS for the current fiscal year.

Insider Buying and Selling at Sunnova Energy International

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 bought at an average cost of $6.92 per share, with a total value 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 acquisition was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Akbar Mohamed acquired 152,450 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was acquired at an average price 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 in the company, valued at approximately $1,634,081.88. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul S. Mathews sold 9,500 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $5.31, for a total transaction of $50,445.00. Following the completion of the sale, the insider now directly owns 14,007 shares of the company’s stock, valued at $74,377.17. The disclosure for this sale can be found here. Insiders have sold 23,580 shares of company stock valued at $137,382 in the last quarter. Corporate insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Sunnova Energy International

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Sunnova Energy International by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 10,486,392 shares of the company’s stock valued at $159,917,000 after purchasing an additional 215,905 shares during the last quarter. Electron Capital Partners LLC lifted its stake in Sunnova Energy International by 42.9% during the third quarter. Electron Capital Partners LLC now owns 5,308,684 shares of the company’s stock valued at $55,582,000 after buying an additional 1,593,098 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Sunnova Energy International by 124.4% in the fourth quarter. Van ECK Associates Corp now owns 1,563,320 shares of the company’s stock worth $23,841,000 after buying an additional 866,705 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Sunnova Energy International by 57.6% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,324,957 shares of the company’s stock worth $13,872,000 after acquiring an additional 484,150 shares in the last quarter. Finally, Guinness Asset Management LTD raised its holdings in shares of Sunnova Energy International by 5.9% during the third quarter. Guinness Asset Management LTD now owns 1,240,355 shares of the company’s stock valued at $12,981,000 after acquiring an additional 69,539 shares during the period.

About Sunnova Energy International

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.