Piper Sandler Issues Pessimistic Forecast for Sunnova Energy International (NYSE:NOVA) Stock Price

Sunnova Energy International (NYSE:NOVA - Get Free Report) had its price objective dropped by Piper Sandler from $8.00 to $4.50 in a research report issued on Friday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Piper Sandler's target price indicates a potential downside of 8.16% from the stock's current price.

Several other analysts have also issued reports on NOVA. Morgan Stanley lowered their price target on shares of Sunnova Energy International from $12.00 to $6.00 and set an "equal weight" rating on the stock in a research report on Friday, November 15th. Robert W. Baird dropped their target price 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. BNP Paribas cut Sunnova Energy International from a "neutral" rating to an "underperform" rating and set a $3.50 price target for the company. in a research report on Friday, November 8th. Scotiabank increased their price objective on Sunnova Energy International from $10.00 to $14.00 and gave the stock a "sector outperform" rating in a report on Tuesday, August 6th. Finally, The Goldman Sachs Group upped their price target 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. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Sunnova Energy International presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.73.

Sunnova Energy International Stock Performance

NYSE:NOVA traded up $0.53 during trading hours on Friday, reaching $4.90. The stock had a trading volume of 14,448,467 shares, compared to its average volume of 15,533,536. The stock has a market cap of $612.27 million, a P/E ratio of -1.46 and a beta of 2.26. The stock has a 50 day simple moving average of $6.66 and a 200 day simple moving average of $6.89. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86. Sunnova Energy International has a 12-month low of $2.99 and a 12-month high of $16.35.

Sunnova Energy International (NYSE:NOVA - Get Free Report) last announced 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 during the quarter, compared to analysts' expectations 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 company's revenue was up 18.6% compared to the same quarter last year. During the same period last year, the business posted ($0.53) EPS. On average, research analysts forecast that Sunnova Energy International will post -2.29 EPS for the current fiscal year.

Insider Activity

In other news, CFO Eric Michael Williams bought 13,800 shares of the firm's stock in a transaction dated Monday, November 18th. The stock was purchased at an average price 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 approximately $49,680. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Akbar Mohamed bought 54,717 shares of the stock in a transaction dated Friday, November 15th. The stock was purchased at an average price of $3.80 per share, with a total value of $207,924.60. Following the purchase, the director now owns 302,654 shares in the company, valued at $1,150,085.20. This trade represents a 22.07 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 118,517 shares of company stock valued at $439,605. Company insiders own 4.50% of the company's stock.

Institutional Investors Weigh In On Sunnova Energy International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its stake in shares of Sunnova Energy International by 37,400.0% during the third quarter. International Assets Investment Management LLC now owns 3,000 shares of the company's stock valued at $308,000 after purchasing an additional 2,992 shares in the last quarter. GAMMA Investing LLC increased its position in Sunnova Energy International by 736.3% during 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 in the last quarter. Peoples Bank KS bought a new stake in Sunnova Energy International in the second quarter worth $56,000. Caxton Associates LP purchased a new stake in shares of Sunnova Energy International in the first quarter worth $62,000. Finally, Creative Planning bought a new position in shares of Sunnova Energy International during the third quarter valued at $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.