Truist Financial Lowers Sunnova Energy International (NYSE:NOVA) Price Target to $9.00

Sunnova Energy International (NYSE:NOVA) had its price target decreased by Truist Financial from $16.00 to $9.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other equities analysts have also commented on the stock. The Goldman Sachs Group decreased their target price on shares of Sunnova Energy International from $14.00 to $12.00 and set a buy rating on the stock in a report on Thursday, April 11th. B. Riley lowered their price objective on shares of Sunnova Energy International from $21.00 to $15.00 and set a buy rating for the company in a research report on Monday, April 22nd. Scotiabank cut their target price on Sunnova Energy International from $20.00 to $10.00 and set a sector outperform rating for the company in a research note on Monday. KeyCorp lowered Sunnova Energy International from an overweight rating to a sector weight rating in a research note on Tuesday, April 23rd. Finally, Northland Securities restated a market perform rating and set a $9.00 price objective (down from $12.00) on shares of Sunnova Energy International in a research report on Friday, February 23rd. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $16.71.

Sunnova Energy International Price Performance

NYSE:NOVA traded up $0.37 during trading hours on Tuesday, reaching $4.79. 15,120,959 shares of the company were exchanged, compared to its average volume of 9,410,099. The business has a 50 day moving average of $5.11 and a 200 day moving average of $9.15. Sunnova Energy International has a 1-year low of $3.37 and a 1-year high of $24.56. The company has a debt-to-equity ratio of 3.58, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $592.57 million, a P/E ratio of -1.43 and a beta of 2.15.

Sunnova Energy International (NYSE:NOVA) last released its earnings results on Wednesday, May 1st. The company reported ($0.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.79) by $0.22. The company had revenue of $160.90 million for the quarter, compared to analyst estimates of $193.78 million. Sunnova Energy International had a negative return on equity of 12.35% and a negative net margin of 56.52%. Sunnova Energy International’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.70) EPS. Research analysts forecast that Sunnova Energy International will post -2.39 EPS for the current year.

Insiders Place Their Bets

In related news, Director Akbar Mohamed purchased 152,450 shares of Sunnova Energy International stock in a transaction on Wednesday, February 28th. The stock was acquired at an average cost of $6.92 per share, for a total transaction of $1,054,954.00. Following the completion of the acquisition, the director now owns 236,139 shares of the company’s stock, valued at approximately $1,634,081.88. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Akbar Mohamed bought 152,450 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were bought at an average cost of $6.92 per share, for a total transaction of $1,054,954.00. Following the acquisition, the director now directly owns 236,139 shares in the company, valued at $1,634,081.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul S. Mathews sold 9,500 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $5.31, for a total transaction of $50,445.00. Following the sale, the insider now directly owns 14,007 shares of the company’s stock, valued at $74,377.17. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,580 shares of company stock worth $137,382. Company insiders own 4.50% of the company’s stock.

Institutional Trading of Sunnova Energy International

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ballentine Partners LLC bought a new stake in Sunnova Energy International in the 4th quarter worth about $161,000. Vanguard Group Inc. increased its position in shares of Sunnova Energy International by 3.8% during the third quarter. Vanguard Group Inc. now owns 10,270,487 shares of the company’s stock valued at $107,532,000 after acquiring an additional 379,032 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Sunnova Energy International by 124.4% during the fourth quarter. Van ECK Associates Corp now owns 1,563,320 shares of the company’s stock worth $23,841,000 after acquiring an additional 866,705 shares during the period. Dark Forest Capital Management LP purchased a new position in Sunnova Energy International in the third quarter worth $593,000. Finally, Money Concepts Capital Corp grew its stake in Sunnova Energy International by 20.3% in the 3rd quarter. Money Concepts Capital Corp now owns 634,117 shares of the company’s stock valued at $6,639,000 after purchasing an additional 106,819 shares during the period.

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.