The Goldman Sachs Group Cuts Sunnova Energy International (NYSE:NOVA) Price Target to $11.00

Sunnova Energy International (NYSE:NOVA) had its price target decreased by The Goldman Sachs Group from $12.00 to $11.00 in a research report sent to investors on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other brokerages also recently weighed in on NOVA. Wolfe Research downgraded Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. BNP Paribas lowered shares of Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 target price on the stock. in a research note on Friday, November 8th. Royal Bank of Canada cut shares of Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a report on Monday, December 9th. Guggenheim cut shares of Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Finally, Barclays reduced their price objective on shares of Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.63.

Sunnova Energy International Stock Up 5.1 %

Shares of NOVA opened at $4.21 on Tuesday. The company’s 50-day simple moving average is $4.94 and its 200-day simple moving average is $6.94. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86. Sunnova Energy International has a 1 year low of $2.99 and a 1 year high of $16.35. The stock has a market capitalization of $525.41 million, a PE ratio of -1.26 and a beta of 2.22.

Sunnova Energy International (NYSE:NOVA) last released its earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.45). Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. 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 company earned ($0.53) earnings per share. Sunnova Energy International’s quarterly revenue was up 18.6% compared to the same quarter last year. Analysts forecast that Sunnova Energy International will post -2.44 earnings per share for the current fiscal year.

Insider Transactions at Sunnova Energy International

In related news, CFO Eric Michael Williams acquired 13,800 shares of Sunnova Energy International stock in a transaction that occurred on Monday, November 18th. The stock was purchased 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 of the company’s stock, valued at approximately $49,680. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Akbar Mohamed bought 50,000 shares of the company’s stock in a transaction on Monday, November 18th. The stock was bought at an average cost of $3.64 per share, with a total value of $182,000.00. Following the completion of the acquisition, the director now owns 352,654 shares of the company’s stock, valued at $1,283,660.56. This represents a 16.52 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 118,517 shares of company stock valued at $439,605. Corporate insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Sunnova Energy International

Several institutional investors and hedge funds have recently made changes to their positions in NOVA. Peapack Gladstone Financial Corp lifted its holdings in shares of Sunnova Energy International by 11.0% in the third quarter. Peapack Gladstone Financial Corp now owns 32,200 shares of the company’s stock valued at $314,000 after purchasing an additional 3,200 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in Sunnova Energy International by 36.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 695,582 shares of the company’s stock valued at $6,775,000 after buying an additional 184,683 shares in the last quarter. Virtu Financial LLC acquired a new stake in Sunnova Energy International during the 3rd quarter valued at $433,000. Geode Capital Management LLC increased its position in Sunnova Energy International by 3.6% during the third quarter. Geode Capital Management LLC now owns 2,562,684 shares of the company’s stock worth $24,965,000 after buying an additional 88,945 shares in the last quarter. Finally, Sylebra Capital LLC raised its holdings in shares of Sunnova Energy International by 125.6% in the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock worth $121,195,000 after acquiring an additional 6,926,399 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.