Sunnova Energy International Inc. (NYSE:NOVA)’s stock price was down 9% on Friday after JPMorgan Chase & Co. lowered their price target on the stock from $66.00 to $53.00. The stock traded as low as $20.11 and last traded at $20.14. Approximately 77,924 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 2,930,573 shares. The stock had previously closed at $22.13.
Other equities analysts have also issued research reports about the company. Truist Financial began coverage on Sunnova Energy International in a research note on Friday, October 15th. They issued a “buy” rating and a $50.00 target price on the stock. KeyCorp lowered their price target on Sunnova Energy International from $50.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, January 13th. The Goldman Sachs Group downgraded Sunnova Energy International from a “conviction-buy” rating to a “buy” rating in a report on Sunday, January 9th. Piper Sandler lowered their price target on Sunnova Energy International from $52.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, January 7th. Finally, Credit Suisse Group increased their price target on Sunnova Energy International from $61.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, November 8th. One research analyst has rated the stock with a sell rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $51.62.
In other Sunnova Energy International news, Director Akbar Mohamed acquired 20,000 shares of the business’s stock in a transaction dated Tuesday, December 28th. The stock was bought at an average cost of $26.13 per share, with a total value of $522,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Ecp Controlco, Llc sold 6,000,000 shares of the firm’s stock in a transaction that occurred on Monday, November 1st. The shares were sold at an average price of $41.28, for a total value of $247,680,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,030,910 shares of company stock valued at $249,050,122. Corporate insiders own 4.10% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in Sunnova Energy International by 1.3% during the 3rd quarter. BlackRock Inc. now owns 12,037,967 shares of the company’s stock worth $396,531,000 after purchasing an additional 155,277 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Sunnova Energy International by 14.4% during the 2nd quarter. Vanguard Group Inc. now owns 7,764,078 shares of the company’s stock worth $292,395,000 after purchasing an additional 974,595 shares during the last quarter. Invesco Ltd. lifted its holdings in Sunnova Energy International by 2.3% during the 3rd quarter. Invesco Ltd. now owns 3,675,732 shares of the company’s stock worth $121,078,000 after purchasing an additional 82,402 shares during the last quarter. Amundi acquired a new stake in Sunnova Energy International during the 2nd quarter worth approximately $108,703,000. Finally, Morgan Stanley lifted its holdings in Sunnova Energy International by 211.2% during the 3rd quarter. Morgan Stanley now owns 2,007,897 shares of the company’s stock worth $66,139,000 after purchasing an additional 1,362,613 shares during the last quarter.
The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of -9.87 and a beta of 2.07. The company has a fifty day moving average of $30.63 and a two-hundred day moving average of $34.27. The company has a debt-to-equity ratio of 2.17, a quick ratio of 2.73 and a current ratio of 2.73.
Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings results on Wednesday, October 27th. The company reported ($0.25) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.09). The firm had revenue of $68.90 million for the quarter, compared to analyst estimates of $67.31 million. Sunnova Energy International had a negative return on equity of 8.58% and a negative net margin of 100.43%. During the same period in the previous year, the business posted ($0.15) earnings per share. Equities analysts forecast that Sunnova Energy International Inc. will post -1.32 EPS for the current year.
Sunnova Energy International Company Profile (NYSE:NOVA)
Sunnova Energy International, Inc engages in providing solar and energy storage services. It also offers services to customers who purchased their solar energy system through unaffiliated third parties. The company was founded by William J. (John) Berger on October 22, 2012 and is headquartered in Houston, TX.