Sunnova Energy International (NYSE:NOVA) Stock Rating Lowered by Susquehanna

Sunnova Energy International (NYSE:NOVA) was downgraded by research analysts at Susquehanna from a “positive” rating to a “neutral” rating in a research note issued on Friday, MarketBeat Ratings reports. They currently have a $4.50 price objective on the stock, down from their previous price objective of $14.00. Susquehanna’s price objective points to a potential upside of 31.20% from the company’s previous close.

Several other equities research analysts also recently weighed in on NOVA. Jefferies Financial Group began coverage on shares of Sunnova Energy International in a research note on Thursday, October 10th. They set a “buy” rating and a $15.00 target price for the company. The Goldman Sachs Group decreased their target price on shares of Sunnova Energy International from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, December 17th. Wells Fargo & Company decreased their target price on shares of Sunnova Energy International from $8.00 to $4.00 and set an “equal weight” rating for the company in a research note on Wednesday. Barclays decreased their target price on shares of Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Sunnova Energy International from $9.00 to $6.25 and set a “hold” rating for the company in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.58.

Sunnova Energy International Stock Performance

NYSE NOVA opened at $3.43 on Friday. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86. Sunnova Energy International has a 1 year low of $2.99 and a 1 year high of $13.00. The company has a market capitalization of $428.59 million, a PE ratio of -1.02 and a beta of 2.29. The company has a fifty day moving average of $4.21 and a two-hundred day moving average of $6.72.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $235.30 million during the quarter, compared to analyst estimates of $238.23 million. During the same quarter in the prior year, the company earned ($0.53) EPS. The business’s revenue was up 18.6% on a year-over-year basis. As a group, analysts expect that Sunnova Energy International will post -2.44 earnings per share for the current year.

Insider Transactions at Sunnova Energy International

In other news, CFO Eric Michael Williams bought 13,800 shares of the stock in a transaction on Monday, November 18th. The stock was purchased at an average cost of $3.60 per share, with a total value of $49,680.00. Following the purchase, the chief financial officer now owns 13,800 shares of the company’s stock, valued at approximately $49,680. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Akbar Mohamed bought 54,717 shares of the stock in a transaction on Friday, November 15th. The stock was purchased at an average cost of $3.80 per share, with a total value of $207,924.60. Following the completion of the purchase, the director now directly owns 302,654 shares in the company, valued at $1,150,085.20. This trade represents a 22.07 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 118,517 shares of company stock valued at $439,605 in the last ninety days. Corporate insiders own 4.50% of the company’s stock.

Institutional Trading of Sunnova Energy International

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV purchased a new stake in Sunnova Energy International in the 2nd quarter worth approximately $78,000. AE Wealth Management LLC acquired a new position in shares of Sunnova Energy International in the 2nd quarter valued at $81,000. GAMMA Investing LLC boosted its holdings in shares of Sunnova Energy International by 736.3% in the 3rd quarter. GAMMA Investing LLC now owns 8,756 shares of the company’s stock valued at $85,000 after purchasing an additional 7,709 shares during the last quarter. Ballentine Partners LLC boosted its holdings in shares of Sunnova Energy International by 72.2% in the 2nd quarter. Ballentine Partners LLC now owns 18,559 shares of the company’s stock valued at $104,000 after purchasing an additional 7,783 shares during the last quarter. Finally, Creative Planning acquired a new position in shares of Sunnova Energy International in the 3rd quarter valued at $107,000.

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.