Sunnova Energy International (NYSE:NOVA) Cut to Hold at Jefferies Financial Group

Sunnova Energy International (NYSE:NOVA) was downgraded by equities research analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. They presently have a $2.00 price target on the stock, down from their previous price target of $9.00. Jefferies Financial Group’s price objective would suggest a potential downside of 18.53% from the stock’s previous close.

NOVA has been the subject of a number of other research reports. Guggenheim lowered Sunnova Energy International from a “buy” rating to a “neutral” rating in a research note on Thursday, November 7th. Piper Sandler dropped their price target on Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating for the company in a research note on Friday, November 22nd. Barclays lowered their price objective on Sunnova Energy International from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Morgan Stanley lowered their price objective on Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating for the company in a research report on Friday, November 15th. Finally, Citigroup lowered their price objective on Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $9.03.

Sunnova Energy International Stock Performance

Shares of NOVA stock opened at $2.46 on Friday. The stock has a fifty day moving average of $3.65 and a 200 day moving average of $6.27. Sunnova Energy International has a 52 week low of $2.30 and a 52 week high of $13.00. The firm has a market capitalization of $306.75 million, a price-to-earnings ratio of -0.73 and a beta of 2.28. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26.

Insider Buying and Selling

In other Sunnova Energy International news, Director Akbar Mohamed acquired 54,717 shares of Sunnova Energy International stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average cost of $3.80 per share, for a total transaction of $207,924.60. Following the acquisition, the director now owns 302,654 shares of the company’s stock, valued at $1,150,085.20. This represents a 22.07 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Eric Michael Williams bought 13,800 shares of the company’s stock in a transaction on Monday, November 18th. The stock was purchased at an average cost of $3.60 per share, for a total transaction of $49,680.00. Following the completion of the transaction, the chief financial officer now directly owns 13,800 shares of the company’s stock, valued at approximately $49,680. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 118,517 shares of company stock worth $439,605. 4.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NOVA. Sei Investments Co. boosted its position in Sunnova Energy International by 9.8% in the second quarter. Sei Investments Co. now owns 68,846 shares of the company’s stock worth $384,000 after purchasing an additional 6,117 shares during the last quarter. AQR Capital Management LLC boosted its position in Sunnova Energy International by 362.3% in the second quarter. AQR Capital Management LLC now owns 104,419 shares of the company’s stock worth $583,000 after purchasing an additional 81,830 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Sunnova Energy International by 6.7% in the second 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. GAMMA Investing LLC boosted its position in Sunnova Energy International by 736.3% in the third quarter. GAMMA Investing LLC now owns 8,756 shares of the company’s stock worth $85,000 after purchasing an additional 7,709 shares during the last quarter. Finally, Diversified Trust Co purchased a new position in shares of Sunnova Energy International during the 3rd quarter valued at about $203,000.

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.