Robert W. Baird Cuts Sunnova Energy International (NYSE:NOVA) Price Target to $9.00

Sunnova Energy International (NYSE:NOVA) had its price objective decreased by research analysts at Robert W. Baird from $12.00 to $9.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price target points to a potential upside of 114.03% from the stock’s current price.

NOVA has been the subject of several other research reports. Jefferies Financial Group assumed coverage on shares of Sunnova Energy International in a research report on Thursday, October 10th. They issued a “buy” rating and a $15.00 price objective for the company. Barclays reduced their price objective on Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft lowered their target price on 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. Morgan Stanley cut 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 note on Friday, November 15th. Finally, The Goldman Sachs Group lowered their price objective on Sunnova Energy International from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $10.49.

Sunnova Energy International Stock Performance

NYSE NOVA opened at $4.21 on Wednesday. The firm has a market cap of $525.41 million, a price-to-earnings ratio of -1.26 and a beta of 2.22. 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 1-year low of $2.99 and a 1-year high of $16.35. The company has a 50 day moving average of $4.94 and a 200-day moving average of $6.94.

Sunnova Energy International (NYSE:NOVA) last issued 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 business had revenue of $235.30 million during the quarter, compared to the consensus estimate of $238.23 million. During the same quarter in the previous year, the firm posted ($0.53) EPS. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. On average, equities analysts forecast that Sunnova Energy International will post -2.44 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Peapack Gladstone Financial Corp increased its stake in Sunnova Energy International by 11.0% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 32,200 shares of the company’s stock valued at $314,000 after buying an additional 3,200 shares during the last quarter. Sanctuary Advisors LLC increased its position in shares of Sunnova Energy International by 36.1% in the third quarter. Sanctuary Advisors LLC now owns 695,582 shares of the company’s stock valued at $6,775,000 after acquiring an additional 184,683 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Sunnova Energy International in the third quarter valued at about $433,000. Geode Capital Management LLC raised its holdings in Sunnova Energy International by 3.6% during the third quarter. Geode Capital Management LLC now owns 2,562,684 shares of the company’s stock worth $24,965,000 after acquiring an additional 88,945 shares in the last quarter. Finally, Sylebra Capital LLC boosted its position in Sunnova Energy International by 125.6% during the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock valued at $121,195,000 after purchasing an additional 6,926,399 shares during the last quarter.

Sunnova Energy International Company Profile

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.