Sunnova Energy International (NYSE:NOVA) Given New $4.00 Price Target at Wells Fargo & Company

Sunnova Energy International (NYSE:NOVA) had its price target lowered by equities researchers at Wells Fargo & Company from $8.00 to $4.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential downside of 3.38% from the company’s current price.

Several other equities analysts have also recently commented on the company. BNP Paribas cut Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 price target for the company. in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft reduced their target price on Sunnova Energy International from $9.00 to $6.25 and set a “hold” rating for the company in a research report on Friday, November 1st. Barclays lowered their price target 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. Morgan Stanley decreased their target price on shares of Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Friday, November 15th. Finally, Jefferies Financial Group initiated coverage on shares of Sunnova Energy International in a research note on Thursday, October 10th. They issued a “buy” rating and a $15.00 target price on the stock. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $10.01.

Sunnova Energy International Stock Performance

NYSE NOVA traded down $0.37 during trading on Wednesday, hitting $4.14. The company’s stock had a trading volume of 1,972,105 shares, compared to its average volume of 7,937,517. Sunnova Energy International has a 52 week low of $2.99 and a 52 week high of $13.08. The firm has a market cap of $517.31 million, a P/E ratio of -1.24 and a beta of 2.29. The firm has a 50 day moving average price of $4.33 and a 200 day moving average price of $6.77. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26.

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 analysts’ consensus estimates of ($0.53) by ($0.45). The company had revenue of $235.30 million for the quarter, compared to the consensus estimate of $238.23 million. Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The company’s revenue was up 18.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.53) EPS. Equities research analysts forecast that Sunnova Energy International will post -2.44 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Sunnova Energy International

A number of institutional investors have recently modified their holdings of the business. Peapack Gladstone Financial Corp boosted its position in shares of Sunnova Energy International by 11.0% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 32,200 shares of the company’s stock worth $314,000 after purchasing an additional 3,200 shares in the last quarter. Sanctuary Advisors LLC grew its stake in Sunnova Energy International by 36.1% in the third quarter. Sanctuary Advisors LLC now owns 695,582 shares of the company’s stock valued at $6,775,000 after acquiring an additional 184,683 shares during the period. Virtu Financial LLC bought a new stake in shares of Sunnova Energy International during the third quarter valued at approximately $433,000. Geode Capital Management LLC raised its position in shares of 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 purchasing an additional 88,945 shares during the period. Finally, Sylebra Capital LLC increased its stake in Sunnova Energy International by 125.6% during the 3rd quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock valued at $121,195,000 after purchasing an additional 6,926,399 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.