Citigroup Trims Sunnova Energy International (NYSE:NOVA) Target Price to $10.00

Sunnova Energy International (NYSE:NOVA) had its target price cut by Citigroup from $12.00 to $10.00 in a research note published on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently commented on NOVA. Morgan Stanley lifted their price target on shares of Sunnova Energy International from $11.00 to $13.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 21st. The Goldman Sachs Group boosted their price target on Sunnova Energy International from $10.00 to $13.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Royal Bank of Canada raised their price objective on Sunnova Energy International from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Scotiabank lifted their price objective on Sunnova Energy International from $10.00 to $14.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 6th. Finally, Susquehanna increased their target price on Sunnova Energy International from $12.00 to $14.00 and gave the stock a “positive” rating in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Sunnova Energy International has a consensus rating of “Moderate Buy” and an average price target of $12.11.

Sunnova Energy International Price Performance

Shares of NYSE:NOVA opened at $5.21 on Tuesday. The company has a debt-to-equity ratio of 3.11, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $650.52 million, a price-to-earnings ratio of -1.80 and a beta of 2.21. Sunnova Energy International has a 12 month low of $3.37 and a 12 month high of $16.35. The business’s 50 day simple moving average is $9.21 and its 200-day simple moving average is $6.83.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.54) by $0.27. The business had revenue of $219.60 million for the quarter, compared to analyst estimates of $220.38 million. Sunnova Energy International had a negative net margin of 45.76% and a negative return on equity of 8.85%. The company’s quarterly revenue was up 32.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.74) earnings per share. As a group, equities analysts forecast that Sunnova Energy International will post -1.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Sunnova Energy International

In other news, insider William J. Berger sold 77,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $11.31, for a total value of $870,870.00. Following the completion of the sale, the insider now owns 409,045 shares in the company, valued at approximately $4,626,298.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Peoples Bank KS acquired a new position in Sunnova Energy International in the 2nd quarter worth $56,000. Caxton Associates LP acquired a new position in shares of Sunnova Energy International in the first quarter worth about $62,000. First Trust Direct Indexing L.P. acquired a new stake in Sunnova Energy International during the 1st quarter valued at approximately $66,000. Presidio Capital Management LLC acquired a new stake in Sunnova Energy International during the 2nd quarter valued at approximately $67,000. Finally, nVerses Capital LLC increased its holdings in Sunnova Energy International by 237.8% during the 2nd 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 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.