Barclays Cuts Sunnova Energy International (NYSE:NOVA) Price Target to $10.00

Sunnova Energy International (NYSE:NOVA) had its price target reduced by Barclays from $12.00 to $10.00 in a research note published on Wednesday, Benzinga reports. Barclays currently has an overweight rating on the stock.

Other equities research analysts also recently issued reports about the stock. The Goldman Sachs Group raised their target price on shares of Sunnova Energy International from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Morgan Stanley raised their price objective on Sunnova Energy International from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 21st. Royal Bank of Canada upped their target price on Sunnova Energy International from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Truist Financial increased their price target on Sunnova Energy International from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Susquehanna boosted their price target on Sunnova Energy International from $12.00 to $14.00 and gave the stock a “positive” rating in a research note 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 stock. Based on data from MarketBeat.com, Sunnova Energy International presently has an average rating of “Moderate Buy” and an average price target of $12.60.

Sunnova Energy International Trading Down 1.0 %

Shares of NYSE:NOVA opened at $5.74 on Wednesday. The company has a market capitalization of $711.66 million, a PE ratio of -1.70 and a beta of 2.21. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 3.11. Sunnova Energy International has a 12-month low of $3.37 and a 12-month high of $16.35. The business’s fifty day simple moving average is $9.41 and its 200-day simple moving average is $6.82.

Sunnova Energy International (NYSE:NOVA) last posted its earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.27. Sunnova Energy International had a negative return on equity of 8.85% and a negative net margin of 45.76%. The company had revenue of $219.60 million for the quarter, compared to analyst estimates of $220.38 million. During the same quarter in the previous year, the firm earned ($0.74) earnings per share. The firm’s quarterly revenue was up 32.0% compared to the same quarter last year. As a group, equities research analysts predict that Sunnova Energy International will post -1.86 earnings per share for the current fiscal year.

Insider Activity at Sunnova Energy International

In other Sunnova Energy International news, insider William J. Berger sold 77,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $11.31, for a total value of $870,870.00. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. 4.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NOVA. GAMMA Investing LLC raised its stake in shares of Sunnova Energy International by 736.3% during the 3rd quarter. GAMMA Investing LLC now owns 8,756 shares of the company’s stock worth $85,000 after buying an additional 7,709 shares during the period. Peoples Bank KS acquired a new position in Sunnova Energy International during the second quarter worth $56,000. Caxton Associates LP purchased a new position in Sunnova Energy International during the first quarter valued at $62,000. First Trust Direct Indexing L.P. acquired a new stake in shares of Sunnova Energy International in the first quarter valued at about $66,000. Finally, Creative Planning purchased a new stake in shares of Sunnova Energy International during the third quarter worth about $107,000.

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.