Sunnova Energy International (NYSE:NOVA) Stock Price Down 4.8% Following Analyst Downgrade

Sunnova Energy International Inc. (NYSE:NOVA - Get Free Report) shares dropped 4.8% during trading on Friday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $9.00 to $6.25. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Sunnova Energy International traded as low as $5.74 and last traded at $5.78. 4,445,221 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 7,741,553 shares. The stock had previously closed at $6.07.

Several other research analysts also recently issued reports on the company. Guggenheim upped their price objective on Sunnova Energy International from $7.00 to $10.00 and gave the stock a "buy" rating in a report on Friday, July 26th. 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. BMO Capital Markets boosted their price objective on Sunnova Energy International from $9.00 to $10.00 and gave the stock a "market perform" rating in a report on Monday, October 14th. Robert W. Baird dropped their price target on shares of Sunnova Energy International from $18.00 to $12.00 and set an "outperform" rating for the company in a research note on Friday. Finally, Morgan Stanley increased their price objective on shares of Sunnova Energy International from $11.00 to $13.00 and gave the company an "equal weight" rating in a report on Wednesday, August 21st. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $11.61.

Insider Activity 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 that occurred on Friday, August 23rd. The shares were sold at an average price of $11.31, for a total transaction of $870,870.00. Following the sale, the insider now directly owns 409,045 shares in the company, valued at approximately $4,626,298.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 4.50% of the stock is owned by insiders.

Institutional Trading of Sunnova Energy International

Several hedge funds and other institutional investors have recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Sunnova Energy International by 56.7% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 14,142,487 shares of the company's stock valued at $78,915,000 after purchasing an additional 5,118,552 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Sunnova Energy International by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 10,568,045 shares of the company's stock valued at $64,782,000 after purchasing an additional 81,653 shares during the period. Handelsbanken Fonder AB grew its holdings in Sunnova Energy International by 9.1% during the third quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company's stock worth $71,097,000 after purchasing an additional 611,452 shares during the period. Sylebra Capital LLC acquired a new position in Sunnova Energy International during the second quarter worth approximately $30,783,000. Finally, Electron Capital Partners LLC raised its stake in Sunnova Energy International by 24.5% in the second quarter. Electron Capital Partners LLC now owns 3,004,938 shares of the company's stock valued at $16,768,000 after buying an additional 591,514 shares during the period.

Sunnova Energy International Stock Performance

The company has a debt-to-equity ratio of 3.11, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a 50-day moving average price of $8.69 and a 200-day moving average price of $6.86. The company has a market capitalization of $714.20 million, a price-to-earnings ratio of -1.71 and a beta of 2.21.

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). 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 11.46% and a negative net margin of 51.02%. The company's revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.53) earnings per share. As a group, analysts forecast that Sunnova Energy International Inc. will post -1.99 earnings per share for the current year.

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.