Sunnova Energy International (NYSE:NOVA) Price Target Lowered to $6.25 at Deutsche Bank Aktiengesellschaft

Sunnova Energy International (NYSE:NOVA) had its target price reduced by Deutsche Bank Aktiengesellschaft from $9.00 to $6.25 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a hold rating on the stock.

NOVA has been the topic of a number of other research reports. Wells Fargo & Company boosted their price objective on shares of Sunnova Energy International from $6.00 to $9.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 6th. Truist Financial increased their price objective on shares of Sunnova Energy International from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Piper Sandler boosted their target price on Sunnova Energy International from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. 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 note on Monday, August 5th. Finally, BMO Capital Markets raised their price target on Sunnova Energy International from $9.00 to $10.00 and gave the stock a “market perform” rating in a research note on Monday, October 14th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Sunnova Energy International has a consensus rating of “Moderate Buy” and a consensus price target of $11.61.

Sunnova Energy International Price Performance

Shares of Sunnova Energy International stock opened at $5.73 on Friday. 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 stock has a 50 day moving average of $8.69 and a 200 day moving average of $6.91. The firm has a market cap of $715.45 million, a PE ratio of -1.71 and a beta of 2.26.

Sunnova Energy International (NYSE:NOVA) last announced its earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.45). The business 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 11.46%. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.53) earnings per share. On average, research analysts expect that Sunnova Energy International will post -1.99 EPS 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 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 completion of the sale, the insider now owns 409,045 shares in the company, valued at $4,626,298.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sunnova Energy International

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Sunnova Energy International by 56.7% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 14,142,487 shares of the company’s stock valued at $78,915,000 after buying an additional 5,118,552 shares in the last quarter. Vanguard Group Inc. boosted its stake in Sunnova Energy International by 0.8% in the first quarter. Vanguard Group Inc. now owns 10,568,045 shares of the company’s stock valued at $64,782,000 after acquiring an additional 81,653 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in Sunnova Energy International by 9.1% in the third quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock worth $71,097,000 after purchasing an additional 611,452 shares during the last quarter. Sylebra Capital LLC acquired a new position in shares of Sunnova Energy International during the second quarter worth $30,783,000. Finally, Electron Capital Partners LLC boosted its position in shares of Sunnova Energy International by 24.5% in the 2nd quarter. Electron Capital Partners LLC now owns 3,004,938 shares of the company’s stock worth $16,768,000 after purchasing an additional 591,514 shares in 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.