Robert W. Baird Lowers Sunnova Energy International (NYSE:NOVA) Price Target to $12.00

Sunnova Energy International (NYSE:NOVA) had its price target cut by analysts at Robert W. Baird from $18.00 to $12.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price would suggest a potential upside of 109.42% from the stock’s previous close.

A number of other research firms have also recently issued reports on NOVA. Barclays cut their price target on Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. The Goldman Sachs Group raised their price target on shares of Sunnova Energy International from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Susquehanna upped their price objective on shares of Sunnova Energy International from $12.00 to $14.00 and gave the company a “positive” rating in a report on Friday, August 2nd. Royal Bank of Canada raised their target price on Sunnova Energy International from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, Guggenheim upped their price target on Sunnova Energy International from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.61.

Sunnova Energy International Price Performance

NOVA stock opened at $5.73 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 3.11. The firm has a market cap of $715.45 million, a price-to-earnings ratio of -1.71 and a beta of 2.26. The company’s fifty day simple moving average is $8.69 and its 200 day simple moving average is $6.89. Sunnova Energy International has a 12-month low of $3.37 and a 12-month high of $16.35.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.45). Sunnova Energy International had a negative return on equity of 11.46% and a negative net margin of 51.02%. The business had revenue of $235.30 million during the quarter, compared to the consensus estimate of $238.23 million. During the same period last year, the business posted ($0.53) earnings per share. The business’s revenue was up 18.6% on a year-over-year basis. On average, analysts expect that Sunnova Energy International will post -1.99 earnings per share for the current year.

Insider Buying and Selling at Sunnova Energy International

In other news, insider William J. Berger sold 77,000 shares of Sunnova Energy International stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $11.31, for a total transaction of $870,870.00. Following the sale, the insider now directly owns 409,045 shares in the company, valued at $4,626,298.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Sunnova Energy International

A number of hedge funds have recently modified their holdings of NOVA. Peoples Bank KS bought a new position in Sunnova Energy International during the second quarter valued at $56,000. Caxton Associates LP purchased a new stake in Sunnova Energy International in the 1st quarter worth about $62,000. First Trust Direct Indexing L.P. bought a new stake in Sunnova Energy International in the 1st quarter valued at about $66,000. Presidio Capital Management LLC purchased a new stake in Sunnova Energy International during the second quarter valued at about $67,000. Finally, nVerses Capital LLC boosted its position in Sunnova Energy International by 237.8% during the second quarter. nVerses Capital LLC now owns 12,500 shares of the company’s stock worth $70,000 after purchasing an additional 8,800 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.