Sunnova Energy International (NYSE:NOVA) Given Equal Weight Rating at Wells Fargo & Company

Wells Fargo & Company reaffirmed their equal weight rating on shares of Sunnova Energy International (NYSE:NOVA) in a report published on Friday morning, Marketbeat Ratings reports. They currently have a $6.00 target price on the stock, down from their prior target price of $11.00.

A number of other research firms have also weighed in on NOVA. Truist Financial reissued a buy rating and set a $16.00 price objective (down previously from $18.00) on shares of Sunnova Energy International in a research note on Monday, February 26th. Janney Montgomery Scott raised Sunnova Energy International from a neutral rating to a buy rating and set a $12.00 price objective on the stock in a research note on Friday, March 22nd. B. Riley lowered their price objective on Sunnova Energy International from $25.00 to $21.00 and set a buy rating on the stock in a research note on Monday, February 5th. Mizuho reduced their target price on Sunnova Energy International from $25.00 to $21.00 and set a buy rating on the stock in a research report on Tuesday, February 27th. Finally, Susquehanna reduced their target price on Sunnova Energy International from $20.00 to $12.00 and set a positive rating on the stock in a research report on Friday, April 5th. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $18.73.

Sunnova Energy International Stock Up 0.7 %

Shares of NYSE:NOVA opened at $3.81 on Friday. The business’s 50 day moving average price is $6.40 and its 200-day moving average price is $9.51. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.58. Sunnova Energy International has a 1 year low of $3.52 and a 1 year high of $24.56.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings data on Wednesday, February 21st. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.04. The company had revenue of $194.18 million for the quarter, compared to analyst estimates of $226.09 million. Sunnova Energy International had a negative return on equity of 13.26% and a negative net margin of 58.00%. On average, equities analysts anticipate that Sunnova Energy International will post -2.28 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Akbar Mohamed bought 152,450 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was purchased at an average cost of $6.92 per share, with a total value of $1,054,954.00. Following the purchase, the director now directly owns 236,139 shares of the company’s stock, valued at approximately $1,634,081.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Akbar Mohamed bought 152,450 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was purchased at an average cost of $6.92 per share, with a total value of $1,054,954.00. Following the purchase, the director now directly owns 236,139 shares of the company’s stock, valued at approximately $1,634,081.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul S. Mathews sold 9,500 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 14,007 shares of the company’s stock, valued at $74,377.17. The disclosure for this sale can be found here. Insiders sold 23,580 shares of company stock valued at $137,382 in the last three months. 4.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its position in shares of Sunnova Energy International by 1.6% during the 1st quarter. BlackRock Inc. now owns 16,530,455 shares of the company’s stock worth $381,192,000 after acquiring an additional 261,186 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Sunnova Energy International by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 10,486,392 shares of the company’s stock worth $159,917,000 after acquiring an additional 215,905 shares in the last quarter. Electron Capital Partners LLC boosted its position in shares of Sunnova Energy International by 42.9% during the 3rd quarter. Electron Capital Partners LLC now owns 5,308,684 shares of the company’s stock worth $55,582,000 after acquiring an additional 1,593,098 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Sunnova Energy International by 39.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,241,007 shares of the company’s stock worth $50,618,000 after acquiring an additional 921,583 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Sunnova Energy International by 0.4% during the 1st quarter. State Street Corp now owns 2,185,742 shares of the company’s stock worth $50,403,000 after acquiring an additional 9,078 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.