Citigroup Lowers Sunnova Energy International (NYSE:NOVA) Price Target to $10.00

Sunnova Energy International (NYSE:NOVA) had its target price dropped by Citigroup from $12.00 to $10.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 99.60% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Morgan Stanley upped their price objective on Sunnova Energy International from $11.00 to $13.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 21st. Guggenheim raised their price target on Sunnova Energy International from $7.00 to $10.00 and gave the company a “buy” rating in a report on Friday, July 26th. Piper Sandler boosted their price objective on Sunnova Energy International from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Barclays cut their target price on shares of Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Finally, BMO Capital Markets lifted their price target on shares of Sunnova Energy International from $9.00 to $10.00 and gave the stock a “market perform” rating in a research report on Monday, October 14th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Sunnova Energy International has an average rating of “Moderate Buy” and a consensus target price of $12.11.

Sunnova Energy International Stock Performance

Shares of NYSE:NOVA opened at $5.01 on Tuesday. The business has a fifty day moving average of $9.33 and a 200-day moving average of $6.85. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.97 and a current ratio of 0.97. Sunnova Energy International has a twelve month low of $3.37 and a twelve month high of $16.35. The firm has a market cap of $621.15 million, a PE ratio of -1.49 and a beta of 2.21.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.27. Sunnova Energy International had a negative net margin of 45.76% and a negative return on equity of 8.85%. The firm had revenue of $219.60 million during the quarter, compared to analysts’ expectations of $220.38 million. During the same quarter last year, the company posted ($0.74) EPS. The company’s quarterly revenue was up 32.0% compared to the same quarter last year. On average, equities research analysts predict that Sunnova Energy International will post -1.86 EPS for the current fiscal year.

Insider Buying and Selling

In other Sunnova Energy International news, insider William J. Berger sold 77,000 shares of Sunnova Energy International stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $11.31, for a total value of $870,870.00. Following the transaction, the insider now owns 409,045 shares of the company’s stock, valued at approximately $4,626,298.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.50% of the stock is owned by company insiders.

Institutional Trading of Sunnova Energy International

Several hedge funds and other institutional investors have recently modified their holdings of the company. First Affirmative Financial Network grew its holdings in shares of Sunnova Energy International by 12.9% during the second quarter. First Affirmative Financial Network now owns 14,829 shares of the company’s stock worth $83,000 after buying an additional 1,691 shares in the last quarter. Ballentine Partners LLC boosted its holdings in Sunnova Energy International by 15.9% during the third quarter. Ballentine Partners LLC now owns 21,515 shares of the company’s stock worth $210,000 after purchasing an additional 2,956 shares during the last quarter. International Assets Investment Management LLC grew its position in Sunnova Energy International by 37,400.0% in the third quarter. International Assets Investment Management LLC now owns 3,000 shares of the company’s stock valued at $308,000 after purchasing an additional 2,992 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Sunnova Energy International by 6.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,487 shares of the company’s stock valued at $315,000 after buying an additional 3,559 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its position in Sunnova Energy International by 14.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 33,033 shares of the company’s stock worth $202,000 after buying an additional 4,200 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.