Sunnova Energy International (NYSE:NOVA) Given New $4.50 Price Target at Piper Sandler

Sunnova Energy International (NYSE:NOVA) had its price objective dropped by equities researchers at Piper Sandler from $8.00 to $4.50 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s target price would suggest a potential downside of 3.43% from the company’s previous close.

A number of other brokerages also recently issued reports on NOVA. Royal Bank of Canada boosted their price objective on shares of Sunnova Energy International from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. The Goldman Sachs Group boosted their price target on shares of Sunnova Energy International from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Guggenheim lowered shares of Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Robert W. Baird decreased their target price on Sunnova Energy International from $18.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Finally, Wolfe Research lowered Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.73.

Sunnova Energy International Stock Performance

NOVA traded up $0.29 during trading on Friday, hitting $4.66. 4,926,237 shares of the company traded hands, compared to its average volume of 8,366,520. The stock’s fifty day moving average is $6.79 and its 200 day moving average is $6.88. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26. Sunnova Energy International has a one year low of $2.99 and a one year high of $16.35. The firm has a market cap of $582.27 million, a P/E ratio of -1.37 and a beta of 2.26.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.45). The firm had revenue of $235.30 million for the quarter, compared to analysts’ expectations of $238.23 million. Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The business’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.53) earnings per share. As a group, equities analysts predict that Sunnova Energy International will post -2.29 EPS for the current fiscal year.

Insider Buying and Selling at Sunnova Energy International

In other Sunnova Energy International news, CFO Eric Michael Williams bought 13,800 shares of Sunnova Energy International stock in a transaction on Monday, November 18th. The shares were acquired at an average price of $3.60 per share, for a total transaction of $49,680.00. Following the completion of the purchase, the chief financial officer now directly owns 13,800 shares in the company, valued at approximately $49,680. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Akbar Mohamed bought 50,000 shares of the stock in a transaction dated Monday, November 18th. The shares were bought at an average cost of $3.64 per share, with a total value of $182,000.00. Following the completion of the purchase, the director now directly owns 352,654 shares of the company’s stock, valued at approximately $1,283,660.56. This trade represents a 16.52 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 118,517 shares of company stock worth $439,605 over the last 90 days. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. First Affirmative Financial Network increased its position in shares of Sunnova Energy International by 12.9% during the second quarter. First Affirmative Financial Network now owns 14,829 shares of the company’s stock worth $83,000 after purchasing an additional 1,691 shares in the last quarter. First Trust Direct Indexing L.P. grew its stake in shares of Sunnova Energy International by 11.6% during the third quarter. First Trust Direct Indexing L.P. now owns 19,373 shares of the company’s stock worth $189,000 after acquiring an additional 2,016 shares during the last quarter. Ballentine Partners LLC raised its position in shares of Sunnova Energy International by 15.9% in the 3rd quarter. Ballentine Partners LLC now owns 21,515 shares of the company’s stock valued at $210,000 after purchasing an additional 2,956 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Sunnova Energy International by 37,400.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,000 shares of the company’s stock worth $308,000 after purchasing an additional 2,992 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Sunnova Energy International by 6.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,487 shares of the company’s stock worth $315,000 after purchasing an additional 3,559 shares during the last quarter.

About Sunnova Energy International

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.