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

Sunnova Energy International (NYSE:NOVA) was downgraded by Wolfe Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday, Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Robert W. Baird decreased their price target on shares of Sunnova Energy International from $18.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Wells Fargo & Company lifted their price target on shares of Sunnova Energy International from $6.00 to $9.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 6th. Morgan Stanley increased their price objective on shares of Sunnova Energy International from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 21st. Citigroup lowered their target price on Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Finally, The Goldman Sachs Group upped their target price on Sunnova Energy International from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.61.

Sunnova Energy International Price Performance

Shares of NYSE NOVA opened at $7.07 on Monday. The company has a fifty day moving average price of $8.59 and a 200 day moving average price of $6.93. The firm has a market cap of $882.14 million, a PE ratio of -2.11 and a beta of 2.26. 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 $3.37 and a 1-year high of $16.35.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.45). Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The firm had revenue of $235.30 million for the quarter, compared to analyst estimates of $238.23 million. During the same period in the prior year, the company earned ($0.53) earnings per share. The firm’s quarterly revenue was up 18.6% on a year-over-year basis. Research analysts predict that Sunnova Energy International will post -2 earnings per share for the current fiscal year.

Insider Transactions at Sunnova Energy International

In related news, insider William J. Berger sold 77,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $4,626,298.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sunnova Energy International

A number of institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC increased its stake in shares of Sunnova Energy International by 37,400.0% during the third quarter. International Assets Investment Management LLC now owns 3,000 shares of the company’s stock worth $308,000 after purchasing an additional 2,992 shares during the period. GAMMA Investing LLC grew its holdings in 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 buying an additional 7,709 shares in the last quarter. Peoples Bank KS bought a new position in Sunnova Energy International during the 2nd quarter worth $56,000. Caxton Associates LP acquired a new stake in shares of Sunnova Energy International during the first quarter worth $62,000. Finally, First Trust Direct Indexing L.P. bought a new stake in shares of Sunnova Energy International in the first quarter valued at about $66,000.

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.