Sunnova Energy International (NYSE:NOVA) Given New $10.00 Price Target at Citigroup

Sunnova Energy International (NYSE:NOVA - Free Report) had its target price cut by Citigroup from $12.00 to $10.00 in a report published on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently commented on NOVA. Morgan Stanley lifted their target price on Sunnova Energy International from $11.00 to $13.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 21st. BMO Capital Markets lifted their target price on Sunnova Energy International from $9.00 to $10.00 and gave the company a "market perform" rating in a research report on Monday, October 14th. Piper Sandler lifted their target price on Sunnova Energy International from $7.00 to $8.00 and gave the company a "neutral" rating in a research report on Monday, August 12th. Susquehanna boosted their price objective on Sunnova Energy International from $12.00 to $14.00 and gave the company a "positive" rating in a report on Friday, August 2nd. Finally, Truist Financial boosted their price objective on Sunnova Energy International from $9.00 to $10.00 and gave the company a "buy" rating in a report on Monday, July 29th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Sunnova Energy International has a consensus rating of "Moderate Buy" and an average price target of $12.11.

Sunnova Energy International Price Performance

NOVA traded down $0.01 on Tuesday, reaching $5.21. 5,673,337 shares of the company's stock were exchanged, compared to its average volume of 7,692,576. The stock has a market cap of $645.95 million, a PE ratio of -1.58 and a beta of 2.21. Sunnova Energy International has a twelve month low of $3.37 and a twelve month high of $16.35. The stock's fifty day moving average price is $9.38 and its 200-day moving average price is $6.85. The company has a debt-to-equity ratio of 3.11, a current ratio of 0.97 and a quick ratio of 0.97.

Sunnova Energy International (NYSE:NOVA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, topping analysts' consensus estimates of ($0.54) by $0.27. Sunnova Energy International had a negative net margin of 45.76% and a negative return on equity of 8.85%. The firm had revenue of $219.60 million for the quarter, compared to analyst estimates of $220.38 million. During the same period in the previous year, the business posted ($0.74) earnings per share. Sunnova Energy International's quarterly revenue was up 32.0% on a year-over-year basis. Sell-side analysts expect that Sunnova Energy International will post -1.86 EPS for the current year.

Insider Buying and Selling at Sunnova Energy International

In other Sunnova Energy International 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 transaction of $870,870.00. Following the completion of the transaction, the insider now owns 409,045 shares in the company, valued at $4,626,298.95. This trade represents a 0.00 % 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. Corporate insiders own 4.50% of the company's stock.

Hedge Funds Weigh In On Sunnova Energy International

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in Sunnova Energy International by 736.3% in the 3rd quarter. GAMMA Investing LLC now owns 8,756 shares of the company's stock valued at $85,000 after buying an additional 7,709 shares during the last quarter. Peoples Bank KS acquired a new position in Sunnova Energy International in the 2nd quarter valued at about $56,000. Caxton Associates LP acquired a new position in Sunnova Energy International in the 1st quarter valued at about $62,000. First Trust Direct Indexing L.P. acquired a new position in Sunnova Energy International in the 1st quarter valued at about $66,000. Finally, Creative Planning acquired a new position in Sunnova Energy International in the 3rd quarter valued at about $107,000.

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.