Shares of Sunnova Energy International Inc. (NYSE:NOVA – Get Free Report) gapped down prior to trading on Tuesday after KeyCorp downgraded the stock from an overweight rating to a sector weight rating. The stock had previously closed at $3.82, but opened at $3.71. Sunnova Energy International shares last traded at $4.13, with a volume of 1,658,250 shares traded.
A number of other brokerages have also recently issued reports on NOVA. Northland Securities restated a “market perform” rating and set a $9.00 target price (down previously from $12.00) on shares of Sunnova Energy International in a report on Friday, February 23rd. Morgan Stanley restated an “equal weight” rating and set a $14.00 target price (down previously from $24.00) on shares of Sunnova Energy International in a report on Monday, March 4th. 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 report on Friday, April 5th. Evercore ISI reduced their target price on Sunnova Energy International from $29.00 to $26.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $6.00 target price (down previously from $11.00) on shares of Sunnova Energy International in a report on Friday. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $18.48.
Insider Activity at Sunnova Energy International
In related news, Director Akbar Mohamed purchased 152,450 shares of the stock in a transaction on Wednesday, February 28th. The shares were purchased at an average price of $6.92 per share, with a total value of $1,054,954.00. Following the transaction, 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 is available at this hyperlink. In related news, Director Akbar Mohamed purchased 152,450 shares of the stock in a transaction on Wednesday, February 28th. The shares were purchased at an average price of $6.92 per share, with a total value of $1,054,954.00. Following the transaction, 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 is available at this hyperlink. Also, insider Paul S. Mathews sold 9,500 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $74,377.17. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,580 shares of company stock valued at $137,382. 4.50% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Sunnova Energy International during the 1st quarter worth approximately $25,000. Manchester Capital Management LLC increased its holdings in shares of Sunnova Energy International by 2,959.7% during the 4th quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock worth $29,000 after acquiring an additional 1,835 shares during the last quarter. First Trust Direct Indexing L.P. acquired a new position in shares of Sunnova Energy International during the 1st quarter worth approximately $66,000. Allspring Global Investments Holdings LLC increased its holdings in shares of 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 acquiring an additional 4,310 shares during the last quarter. Finally, NewEdge Wealth LLC acquired a new position in shares of Sunnova Energy International during the 3rd quarter worth approximately $125,000.
Sunnova Energy International Price Performance
The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $486.07 million, a price-to-earnings ratio of -1.12 and a beta of 2.08. The business has a fifty day moving average of $6.10 and a two-hundred day moving average of $9.44.
Sunnova Energy International (NYSE:NOVA – Get Free Report) last released its quarterly earnings results on Wednesday, February 21st. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.04. The business had revenue of $194.18 million during the quarter, compared to the consensus estimate of $226.09 million. Sunnova Energy International had a negative return on equity of 13.26% and a negative net margin of 58.00%. As a group, research analysts predict that Sunnova Energy International Inc. will post -2.28 EPS for the current fiscal year.
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.