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

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

NOVA has been the topic of a number of other research reports. Evercore ISI lowered their target price on Sunnova Energy International from $29.00 to $26.00 and set an outperform rating on the stock in a research note on Friday, February 23rd. The Goldman Sachs Group lowered their target price on Sunnova Energy International from $14.00 to $12.00 and set a buy rating on the stock in a research note on Thursday, April 11th. Morgan Stanley restated an equal weight rating and issued a $14.00 target price (down previously from $24.00) on shares of Sunnova Energy International in a research note on Monday, March 4th. Wells Fargo & Company reaffirmed an equal weight rating and issued a $6.00 price target (down previously from $11.00) on shares of Sunnova Energy International in a report on Friday, April 19th. Finally, Truist Financial reduced their price target on Sunnova Energy International from $16.00 to $9.00 and set a buy rating for the company in a report on Tuesday. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $16.71.

Sunnova Energy International Stock Performance

Sunnova Energy International stock traded up $0.37 during trading hours on Friday, hitting $4.79. 15,122,585 shares of the stock traded hands, compared to its average volume of 9,639,226. 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 firm’s 50 day moving average price is $5.05 and its 200-day moving average price is $9.11. The stock has a market capitalization of $593.19 million, a price-to-earnings ratio of -1.42 and a beta of 2.15. Sunnova Energy International has a 1 year low of $3.37 and a 1 year high of $24.56.

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

Insider Activity

In related news, insider Paul S. Mathews sold 9,500 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 14,007 shares in the company, valued at $74,377.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Sunnova Energy International news, insider Jack O. Lynch III sold 12,994 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $6.21, for a total value of $80,692.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul S. Mathews sold 9,500 shares of the 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 sale, the insider now owns 14,007 shares in the company, valued at $74,377.17. The disclosure for this sale can be found here. Insiders sold 23,580 shares of company stock worth $137,382 over the last ninety days. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Sunnova Energy International

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Sunnova Energy International during the 1st quarter worth $25,000. Manchester Capital Management LLC boosted its position 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 worth $29,000 after acquiring an additional 1,835 shares in the last quarter. First Trust Direct Indexing L.P. purchased a new position in shares of Sunnova Energy International in the 1st quarter valued at about $66,000. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Sunnova Energy International by 129.9% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,788 shares of the company’s stock valued at $72,000 after acquiring an additional 6,661 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Sunnova Energy International by 158.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,036 shares of the company’s stock worth $74,000 after acquiring an additional 4,310 shares in the last quarter.

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.