Robert W. Baird Has Lowered Expectations for Sunnova Energy International (NYSE:NOVA) Stock Price

Sunnova Energy International (NYSE:NOVA - Free Report) had its price target cut by Robert W. Baird from $12.00 to $9.00 in a research note published on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also commented on NOVA. Citigroup decreased their price target on shares of Sunnova Energy International from $12.00 to $10.00 and set a "buy" rating on the stock in a research note on Tuesday, October 22nd. 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 price target on the stock. BNP Paribas lowered shares of Sunnova Energy International from a "neutral" rating to an "underperform" rating and set a $3.50 price target on the stock. in a research note on Friday, November 8th. Royal Bank of Canada lowered shares of Sunnova Energy International from an "outperform" rating to a "sector perform" rating in a research note on Monday, December 9th. Finally, Barclays decreased 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 research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $10.49.

Sunnova Energy International Stock Performance

Shares of Sunnova Energy International stock traded down $0.58 during trading on Wednesday, hitting $3.62. 14,622,064 shares of the stock were exchanged, compared to its average volume of 8,464,002. The stock has a market capitalization of $452.32 million, a price-to-earnings ratio of -1.08 and a beta of 2.22. The company has a fifty day moving average price of $4.94 and a 200-day moving average price of $6.94. Sunnova Energy International has a 1-year low of $2.99 and a 1-year high of $16.35. The company has a current ratio of 0.86, a quick 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) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.45). The firm had revenue of $235.30 million for the quarter, compared to analyst estimates 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 firm's revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.53) earnings per share. As a group, equities analysts predict that Sunnova Energy International will post -2.44 EPS for the current fiscal year.

Insider Buying and Selling at Sunnova Energy International

In other news, Director Akbar Mohamed acquired 54,717 shares of the firm's stock in a transaction dated 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 completion of the transaction, the director now directly owns 302,654 shares in the company, valued at $1,150,085.20. This represents a 22.07 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Eric Michael Williams acquired 13,800 shares of the firm's stock in a transaction dated Monday, November 18th. The shares were purchased at an average price of $3.60 per share, with a total value of $49,680.00. Following the completion of the transaction, the chief financial officer now owns 13,800 shares of the company's stock, valued at $49,680. This trade represents a ∞ increase in their ownership of the stock. 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 currently owned by company insiders.

Institutional Investors Weigh In On Sunnova Energy International

Several large investors have recently modified their holdings of the company. Presidio Capital Management LLC bought a new position in Sunnova Energy International during the second quarter worth $67,000. nVerses Capital LLC boosted its stake in Sunnova Energy International by 237.8% during the second quarter. nVerses Capital LLC now owns 12,500 shares of the company's stock worth $70,000 after acquiring an additional 8,800 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Sunnova Energy International during the second quarter worth $78,000. AE Wealth Management LLC bought a new position in Sunnova Energy International during the second quarter worth $81,000. Finally, GAMMA Investing LLC boosted its stake in Sunnova Energy International by 736.3% during the third quarter. GAMMA Investing LLC now owns 8,756 shares of the company's stock worth $85,000 after acquiring an additional 7,709 shares in the last quarter.

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.