Morgan Stanley Lowers Sunnova Energy International (NYSE:NOVA) Price Target to $6.00

Sunnova Energy International (NYSE:NOVA - Get Free Report) had its target price dropped by analysts at Morgan Stanley from $12.00 to $6.00 in a report released on Friday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's price target points to a potential upside of 60.43% from the company's previous close.

A number of other brokerages have also issued reports on NOVA. Deutsche Bank Aktiengesellschaft cut their target price on Sunnova Energy International from $9.00 to $6.25 and set a "hold" rating on the stock in a research report on Friday, November 1st. The Goldman Sachs Group boosted their target price on Sunnova Energy International from $10.00 to $13.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Guggenheim lowered Sunnova Energy International from a "buy" rating to a "neutral" rating in a research report on Thursday, November 7th. BMO Capital Markets reaffirmed a "market perform" rating and set a $8.00 price objective (down previously from $10.00) on shares of Sunnova Energy International in a research report on Friday, November 1st. Finally, Robert W. Baird cut their price objective on Sunnova Energy International from $18.00 to $12.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $10.89.

Sunnova Energy International Price Performance

Shares of Sunnova Energy International stock traded down $0.29 on Friday, hitting $3.74. 17,027,200 shares of the company were exchanged, compared to its average volume of 8,299,157. The stock has a market capitalization of $467.31 million, a price-to-earnings ratio of -1.20 and a beta of 2.26. The company has a 50-day moving average price of $7.47 and a 200 day moving average price of $6.89. Sunnova Energy International has a 1-year low of $2.99 and a 1-year high of $16.35. 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 - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.98) EPS 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 11.15%. The business had revenue of $235.30 million during the quarter, compared to analyst estimates of $238.23 million. During the same quarter in the prior year, the company posted ($0.53) earnings per share. The company's revenue was up 18.6% on a year-over-year basis. As a group, sell-side analysts predict that Sunnova Energy International will post -2.24 earnings per share for the current fiscal year.

Insider Transactions at Sunnova Energy International

In related news, insider William J. Berger sold 77,000 shares of the firm's stock in a transaction dated Friday, August 23rd. The shares were 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 $4,626,298.95. This trade represents a 15.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 4.50% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd purchased a new position in Sunnova Energy International in the third quarter valued at about $875,000. Paloma Partners Management Co purchased a new position in Sunnova Energy International in the third quarter valued at about $151,000. Erste Asset Management GmbH purchased a new position in Sunnova Energy International in the third quarter valued at about $76,550,000. Rockefeller Capital Management L.P. increased its holdings in Sunnova Energy International by 4.2% in the third quarter. Rockefeller Capital Management L.P. now owns 262,339 shares of the company's stock valued at $2,555,000 after buying an additional 10,520 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Sunnova Energy International by 3.7% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 371,095 shares of the company's stock valued at $3,614,000 after buying an additional 13,314 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.