Evercore ISI Cuts Sunnova Energy International (NYSE:NOVA) Price Target to $17.00

Sunnova Energy International (NYSE:NOVA) had its target price cut by Evercore ISI from $26.00 to $17.00 in a report published on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

NOVA has been the subject of a number of other research reports. Truist Financial dropped their price objective on shares of Sunnova Energy International from $16.00 to $9.00 and set a buy rating for the company in a report on Tuesday, April 30th. Susquehanna lowered their target price on shares of 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. Northland Securities reaffirmed a market perform rating and issued a $9.00 price target (down from $12.00) on shares of Sunnova Energy International in a report on Friday, February 23rd. KeyCorp downgraded shares of Sunnova Energy International from an overweight rating to a sector weight rating in a research report on Tuesday, April 23rd. Finally, Janney Montgomery Scott upgraded shares of Sunnova Energy International from a neutral rating to a buy rating and set a $12.00 price objective for the company in a research note on Friday, March 22nd. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Sunnova Energy International presently has an average rating of Moderate Buy and an average target price of $16.71.

Sunnova Energy International Stock Down 2.5 %

NOVA stock traded down $0.12 on Friday, hitting $4.67. 6,384,788 shares of the company’s stock were exchanged, compared to its average volume of 9,362,332. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.74 and a current ratio of 0.74. Sunnova Energy International has a 12-month low of $3.37 and a 12-month high of $24.56. The stock has a market cap of $578.99 million, a P/E ratio of -1.42 and a beta of 2.15. The firm has a 50 day moving average price of $5.05 and a two-hundred day moving average price of $9.09.

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

Insider Activity at Sunnova Energy International

In related news, insider Jack O. Lynch III sold 12,994 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $6.21, for a total value of $80,692.74. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Akbar Mohamed bought 152,450 shares of Sunnova Energy International stock in a transaction on Wednesday, February 28th. The shares were bought at an average cost of $6.92 per share, for a total transaction of $1,054,954.00. Following the acquisition, the director now owns 236,139 shares in the company, valued at $1,634,081.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jack O. Lynch III sold 12,994 shares of Sunnova Energy International stock in a transaction dated 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 sold 23,580 shares of company stock valued at $137,382 in the last ninety days. Corporate insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Sunnova Energy International

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