Piper Sandler Cuts Sunnova Energy International (NYSE:NOVA) Price Target to $4.50

Sunnova Energy International (NYSE:NOVA) had its price objective decreased by Piper Sandler from $8.00 to $4.50 in a report issued on Friday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Other analysts have also issued reports about the stock. Robert W. Baird cut their price target on shares of Sunnova Energy International from $18.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Morgan Stanley reduced their price target on Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Friday, November 15th. Truist Financial boosted their price objective on Sunnova Energy International from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Guggenheim cut shares of Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group upped their price target on shares of Sunnova Energy International from $10.00 to $13.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $10.73.

Sunnova Energy International Price Performance

Shares of Sunnova Energy International stock opened at $4.90 on Friday. The firm has a market capitalization of $612.27 million, a PE ratio of -1.46 and a beta of 2.26. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26. Sunnova Energy International has a 12 month low of $2.99 and a 12 month high of $16.35. The business’s 50-day moving average price is $6.66 and its 200-day moving average price is $6.91.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.45). Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The business had revenue of $235.30 million for the quarter, compared to the consensus estimate of $238.23 million. During the same quarter in the previous year, the business earned ($0.53) earnings per share. The firm’s revenue was up 18.6% on a year-over-year basis. Sell-side analysts forecast that Sunnova Energy International will post -2.29 EPS for the current fiscal year.

Insider Buying and Selling at Sunnova Energy International

In other Sunnova Energy International news, CFO Eric Michael Williams bought 13,800 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was acquired at an average price of $3.60 per share, with a total value of $49,680.00. Following the completion of the purchase, the chief financial officer now owns 13,800 shares of the company’s stock, valued at approximately $49,680. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Akbar Mohamed purchased 50,000 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was bought at an average cost of $3.64 per share, for a total transaction of $182,000.00. Following the completion of the transaction, the director now owns 352,654 shares in the company, valued at approximately $1,283,660.56. This represents a 16.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 118,517 shares of company stock valued at $439,605. 4.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sunnova Energy International

Institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC bought a new position in Sunnova Energy International in the 3rd quarter worth about $433,000. Geode Capital Management LLC raised its holdings in Sunnova Energy International by 3.6% in the third quarter. Geode Capital Management LLC now owns 2,562,684 shares of the company’s stock worth $24,965,000 after buying an additional 88,945 shares during the last quarter. Sylebra Capital LLC lifted its stake in shares of Sunnova Energy International by 125.6% in the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock worth $121,195,000 after buying an additional 6,926,399 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Sunnova Energy International during the third quarter valued at approximately $875,000. Finally, Paloma Partners Management Co bought a new stake in shares of Sunnova Energy International during the third quarter valued at approximately $151,000.

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.