Sunnova Energy International (NYSE:NOVA) Reaches New 1-Year Low Following Analyst Downgrade

Sunnova Energy International Inc. (NYSE:NOVA) reached a new 52-week low during trading on Friday after Mizuho lowered their price target on the stock from $21.00 to $17.00. Mizuho currently has a buy rating on the stock. Sunnova Energy International traded as low as $3.52 and last traded at $4.04, with a volume of 4812215 shares changing hands. The stock had previously closed at $3.78.

Other research analysts have also issued reports about the stock. Truist Financial reaffirmed a “buy” rating and issued a $16.00 price target (down from $18.00) on shares of Sunnova Energy International in a report on Monday, February 26th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $6.00 price objective (down from $11.00) on shares of Sunnova Energy International in a research report on Friday. Morgan Stanley reiterated an “equal weight” rating and issued a $14.00 price objective (down from $24.00) on shares of Sunnova Energy International in a research report on Monday, March 4th. The Goldman Sachs Group cut their price objective on shares of Sunnova Energy International from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, April 11th. Finally, Susquehanna cut their price objective on shares of 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 issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.73.

Insider Transactions at Sunnova Energy International

In other news, Director Akbar Mohamed bought 152,450 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were acquired at an average cost of $6.92 per share, with a total value of $1,054,954.00. Following the completion of the transaction, the director now directly owns 236,139 shares in the company, valued at approximately $1,634,081.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Paul S. Mathews sold 9,500 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $5.31, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Akbar Mohamed acquired 152,450 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 236,139 shares of the company’s stock, valued at approximately $1,634,081.88. The disclosure for this purchase can be found here. Insiders have sold a total of 23,580 shares of company stock valued at $137,382 over the last ninety days. Corporate insiders own 4.50% of the company’s stock.

Institutional Trading of Sunnova Energy International

A number of institutional investors have recently added to or reduced their stakes in NOVA. Electron Capital Partners LLC lifted its stake in Sunnova Energy International by 42.9% in the third quarter. Electron Capital Partners LLC now owns 5,308,684 shares of the company’s stock valued at $55,582,000 after acquiring an additional 1,593,098 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Sunnova Energy International by 39.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,241,007 shares of the company’s stock worth $50,618,000 after buying an additional 921,583 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Sunnova Energy International by 124.4% in the fourth quarter. Van ECK Associates Corp now owns 1,563,320 shares of the company’s stock worth $23,841,000 after buying an additional 866,705 shares during the last quarter. Norges Bank acquired a new stake in shares of Sunnova Energy International in the fourth quarter worth $14,254,000. Finally, Banque Pictet & Cie SA acquired a new stake in shares of Sunnova Energy International in the third quarter worth $6,906,000.

Sunnova Energy International Trading Up 0.7 %

The stock has a market capitalization of $471.21 million, a price-to-earnings ratio of -1.09 and a beta of 2.08. The company’s 50 day moving average is $6.40 and its 200 day moving average is $9.51. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.85 and a current ratio of 0.85.

Sunnova Energy International (NYSE:NOVA) last released its earnings results on Wednesday, February 21st. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.04. The firm had revenue of $194.18 million during the quarter, compared to analysts’ expectations of $226.09 million. Sunnova Energy International had a negative net margin of 58.00% and a negative return on equity of 13.26%. On average, research analysts forecast that Sunnova Energy International Inc. will post -2.28 EPS for the current fiscal year.

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.