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

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

A number of other equities analysts also recently commented on NOVA. Northland Securities reaffirmed a market perform rating and issued a $9.00 price objective (down previously from $12.00) on shares of Sunnova Energy International in a report on Friday, February 23rd. Susquehanna lowered their price objective on shares of Sunnova Energy International from $20.00 to $12.00 and set a positive rating for the company in a research report on Friday, April 5th. Wells Fargo & Company reiterated an equal weight rating and set a $6.00 price objective (down previously from $11.00) on shares of Sunnova Energy International in a research note on Friday, April 19th. KeyCorp downgraded Sunnova Energy International from an overweight rating to a sector weight rating in a research note on Tuesday, April 23rd. Finally, B. Riley dropped their price target on Sunnova Energy International from $21.00 to $15.00 and set a buy rating on the stock in a research report on Monday, April 22nd. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $16.71.

Sunnova Energy International Stock Up 8.3 %

Shares of NOVA stock traded up $0.37 during trading hours on Tuesday, hitting $4.79. 15,120,959 shares of the company were exchanged, compared to its average volume of 9,410,099. The stock has a market capitalization of $592.57 million, a price-to-earnings ratio of -1.43 and a beta of 2.15. Sunnova Energy International has a one year low of $3.37 and a one year high of $24.56. The business’s 50-day simple moving average is $5.11 and its two-hundred day simple moving average is $9.15. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.85 and a current ratio of 0.85.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.57) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.79) by $0.22. The firm had revenue of $160.90 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.70) earnings per share. Sell-side analysts predict that Sunnova Energy International will post -2.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Paul S. Mathews sold 9,500 shares of the business’s stock in a transaction 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 sale, the insider now owns 14,007 shares of the company’s stock, valued at approximately $74,377.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Sunnova Energy International news, insider Jack O. Lynch III sold 12,994 shares of Sunnova Energy International stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $6.21, for a total value of $80,692.74. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul S. Mathews sold 9,500 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $5.31, for a total value of $50,445.00. Following the sale, the insider now owns 14,007 shares of the company’s stock, valued at approximately $74,377.17. The disclosure for this sale can be found here. Insiders sold 23,580 shares of company stock worth $137,382 over the last ninety days. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Sunnova Energy International

A number of hedge funds and other institutional investors have recently modified their holdings of NOVA. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Sunnova Energy International during the first quarter valued at about $25,000. Manchester Capital Management LLC increased its stake in shares of Sunnova Energy International by 2,959.7% in the fourth quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock valued at $29,000 after buying an additional 1,835 shares in the last quarter. First Trust Direct Indexing L.P. bought a new position in shares of Sunnova Energy International in the first quarter valued at about $66,000. BI Asset Management Fondsmaeglerselskab A S lifted its position in Sunnova Energy International by 129.9% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,788 shares of the company’s stock worth $72,000 after buying an additional 6,661 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew 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 acquiring an additional 4,310 shares during the last quarter.

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.