Sunnova Energy International (NYSE:NOVA) Downgraded to Neutral by Piper Sandler

Piper Sandler lowered the company’s shares Sunnova Energy International (NYSE:NOVA – Free Report) from an overweight rating to a neutral rating in a research note published Tuesday morning, Marketbeat.com reports. Piper Sandler’s current price target is $4.50, down from the prior price target of $9.00.

Other analysts have also published research reports on the stock. Janney Montgomery Scott upgraded shares of Sunnova Energy International from a neutral rating to a “buy” rating and set a $12.00 price target for the company in a research note on Friday, March 22. The Goldman Sachs Group lowered their target price on 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. On Friday, April 19, Wells Fargo & Company reiterated the same rating and issued a $6.00 price target on Sunnova Energy International shares (up from $11.00). On Monday, March 4, Morgan Stanley reiterated the same weight rating and set a $14.00 price target (up from $24.00) on shares of Sunnova Energy International. Finally, Mizuho lowered their target price on Sunnova Energy International from $21.00 to $17.00 and set a “buy” rating for the stock in a research note on Friday, April 19th. Eight equity research analysts have rated the company with a hold rating, sixteen with a buy rating and one with a strong buy rating. According to MarketBeat data, the company has a consensus rating of Buy on average and an average price target of $15.88.

Read our latest report on Sunnova Energy International

Sunnova Energy International stock performance

On Tuesday, NYSE:NOVA began trading at $4.05. Sunnova Energy International has a fifty-two week low of $3.37 and a fifty-two week high of $24.56. The company has a debt to equity ratio of 3.41, a quick ratio of 0.74 and a current ratio of 0.74. The company has a 50-day moving average price of $4.59 and a 200-day moving average price of $8.70. The market capitalization of the company’s shares is USD 502.12 million, the P/E ratio is -1.20 and the beta coefficient is 2.15.

Sunnova Energy International (NYSE:NOVA – Get Free Report) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.57) EPS for the quarter, $0.22 above the consensus estimate of ($0.79). Sunnova Energy International had a negative return on equity of 12.10% and a negative net margin of 56.52%. The company had revenue of $160.90 million for the quarter, compared to analyst estimates of $193.78 million. During the same period last year, the company reported earnings per share ($0.70). The company’s quarterly revenues decreased by 0.5% year over year. Stock research analysts predict that Sunnova Energy International will post -1.92 EPS this year.

Insiders place their bets

On the other hand, Director Akbar Mohamed acquired 152,450 shares of the company’s stock on Wednesday, February 28, in a transaction. The shares were purchased at an average price of USD 6.92 per share, for a total value of USD 1,054,954.00. Following the purchase, the director now owns 236,139 shares of the company’s stock, valued at approximately $1,634,081.88. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which can be accessed through this hyperlink. In other news, Director Akbar Mohamed purchased 152,450 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were purchased at an average price of USD 6.92 per share, for a total value of USD 1,054,954.00. Following the completion of the acquisition, the director now directly owns 236,139 shares of the company’s stock, valued at $1,634,081.88. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. Additionally, insider Paul S. Mathews sold 9,500 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $5.31, for a total transaction amount of $50,445.00. Following the completion of the sale, the insider now owns 14,007 shares of the company’s stock, valued at approximately $74,377.17. The announcement of this sale can be found here. Over the last ninety days, insiders have sold 23,580 shares of company stock worth $137,382. 4.50% of the shares are owned by company insiders.

Institutional inflows and outflows

Large investors have been buying and selling shares of the company recently. Commonwealth Equity Services LLC increased its holdings in shares of Sunnova Energy International by 34.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 17,527 shares of the company’s stock valued at $184,000 after purchasing an additional 4,450 shares in the last quarter. Raymond James & Associates increased its position in shares of Sunnova Energy International by 19.5% during the third quarter. Raymond James & Associates now owns 95,096 shares of the company’s stock valued at $996,000 after acquiring an additional 15,503 shares during the period. During the third quarter, Raymond James Financial Services Advisors Inc. increased its stake in Sunnova Energy International shares by 3.0%. Raymond James Financial Services Advisors Inc. now owns 66,485 shares of the company’s stock valued at $696,000 after acquiring an additional 1,962 shares in the last quarter. In the third quarter, Mirae Asset Global Investments Co. Ltd. increased its stake in Sunnova Energy International shares by 4.4%. Mirae Asset Global Investments Co. Ltd. now owns 105,299 shares of the company’s stock valued at $1,102,000 after acquiring an additional 4,411 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in Sunnova Energy International by 158.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,036 shares of the company’s stock worth $74,000 after purchasing an additional 4,310 shares in the last quarter.

International profile of the Sunnova Energy company

(Get the free report)

Sunnova Energy International Inc provides energy as a service in the United States. The company offers electric power and also offers operations and maintenance services, monitoring, repairs and replacements, equipment upgrades, on-site power optimization and diagnostic services for solar energy and energy storage systems.

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