Wells Fargo & Company Issues Pessimistic Forecast for Sunnova Energy International (NYSE:NOVA) Stock Price

Sunnova Energy International (NYSE:NOVA - Get Free Report) had its target price decreased by research analysts at Wells Fargo & Company from $8.00 to $4.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's price target would suggest a potential upside of 2.04% from the stock's previous close.

NOVA has been the subject of a number of other reports. Morgan Stanley decreased their target price on Sunnova Energy International from $12.00 to $6.00 and set an "equal weight" rating for the company in a research report on Friday, November 15th. Royal Bank of Canada downgraded Sunnova Energy International from an "outperform" rating to a "sector perform" rating in a report on Monday, December 9th. The Goldman Sachs Group dropped their target price on shares of Sunnova Energy International from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Tuesday, December 17th. Wolfe Research downgraded shares of Sunnova Energy International from a "strong-buy" rating to a "hold" rating in a research report on Monday, November 4th. Finally, Jefferies Financial Group started coverage on shares of Sunnova Energy International in a research report on Thursday, October 10th. They issued a "buy" rating and a $15.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $10.01.

Sunnova Energy International Trading Down 13.1 %

Shares of NYSE NOVA traded down $0.59 during midday trading on Wednesday, hitting $3.92. The company's stock had a trading volume of 7,966,226 shares, compared to its average volume of 9,234,441. Sunnova Energy International has a 12-month low of $2.99 and a 12-month high of $13.08. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26. The firm has a market cap of $489.82 million, a P/E ratio of -1.17 and a beta of 2.29. The business's 50 day moving average is $4.30 and its two-hundred day moving average is $6.75.

Sunnova Energy International (NYSE:NOVA - Get Free Report) last issued 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 analysts' expectations of $238.23 million. Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The firm's revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.53) earnings per share. As a group, equities research analysts expect that Sunnova Energy International will post -2.44 EPS for the current year.

Insider Activity

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

Hedge Funds Weigh In On Sunnova Energy International

A number of institutional investors have recently modified their holdings of the stock. Sylebra Capital LLC lifted its holdings in Sunnova Energy International by 125.6% in the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company's stock valued at $121,195,000 after acquiring an additional 6,926,399 shares during the period. Erste Asset Management GmbH purchased a new stake in Sunnova Energy International during the third quarter worth $76,550,000. Handelsbanken Fonder AB boosted 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 buying an additional 611,452 shares in the last quarter. Electron Capital Partners LLC grew its position in Sunnova Energy International by 24.5% during 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. Finally, Geode Capital Management LLC increased its holdings in Sunnova Energy International by 3.6% in the third quarter. Geode Capital Management LLC now owns 2,562,684 shares of the company's stock valued at $24,965,000 after buying an additional 88,945 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.