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

Sunnova Energy International (NYSE:NOVA) had its price target reduced by Robert W. Baird from $18.00 to $12.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 97.69% from the company’s previous close.

Several other analysts have also recently issued reports on NOVA. Royal Bank of Canada upped their price target on shares of Sunnova Energy International from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Citigroup cut their target price on shares of Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Piper Sandler lifted their price target on Sunnova Energy International from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Truist Financial upped their price objective on Sunnova Energy International from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Susquehanna lifted 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

Sunnova Energy International Stock Up 12.8 %

Shares of Sunnova Energy International stock opened at $6.07 on Friday. Sunnova Energy International has a 1-year low of $3.37 and a 1-year high of $16.35. The company has a market capitalization of $757.90 million, a PE ratio of -1.81 and a beta of 2.21. 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 business has a 50-day moving average of $8.80 and a 200-day moving average of $6.85.

Sunnova Energy International (NYSE:NOVA) last issued 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). Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.46%. The business had revenue of $235.30 million for the quarter, compared to analyst estimates of $238.23 million. During the same quarter last year, the business earned ($0.53) EPS. Sunnova Energy International’s revenue for the quarter was up 18.6% compared to the same quarter last year. As a group, equities analysts forecast that Sunnova Energy International will post -1.99 EPS for the current fiscal year.

Insider Activity

In other Sunnova Energy International news, insider William J. Berger sold 77,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were 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 approximately $4,626,298.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Handelsbanken Fonder AB boosted its stake in Sunnova Energy International by 9.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock valued at $71,097,000 after purchasing an additional 611,452 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Sunnova Energy International by 23.4% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 357,781 shares of the company’s stock valued at $1,996,000 after buying an additional 67,749 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Sunnova Energy International during the second quarter valued at about $1,042,000. Sylebra Capital LLC acquired a new position in Sunnova Energy International during the second quarter worth about $30,783,000. Finally, Vanguard Group Inc. raised its position 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 worth $64,782,000 after acquiring an additional 81,653 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.