Sunnova Energy International (NYSE:NOVA) Downgraded by Susquehanna to Neutral

Susquehanna cut shares of Sunnova Energy International (NYSE:NOVA - Free Report) from a positive rating to a neutral rating in a report issued on Friday morning, MarketBeat Ratings reports. The brokerage currently has $4.50 price target on the stock, down from their previous price target of $14.00.

Several other brokerages have also commented on NOVA. Royal Bank of Canada lowered Sunnova Energy International from an "outperform" rating to a "sector perform" rating in a research report on Monday, December 9th. Citigroup cut their price target on Sunnova Energy International from $12.00 to $10.00 and set a "buy" rating on the stock in a report on Tuesday, October 22nd. Robert W. Baird lowered their price objective on shares of Sunnova Energy International from $12.00 to $9.00 and set an "outperform" rating for the company in a research note on Wednesday, December 18th. Piper Sandler reduced their price target on shares of Sunnova Energy International from $8.00 to $4.50 and set a "neutral" rating for the company in a report on Friday, November 22nd. Finally, Morgan Stanley dropped their price objective on shares of Sunnova Energy International from $12.00 to $6.00 and set an "equal weight" rating on the stock in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $9.58.

Sunnova Energy International Trading Down 12.5 %

Shares of Sunnova Energy International stock traded down $0.49 during midday trading on Friday, reaching $3.43. The company had a trading volume of 9,910,909 shares, compared to its average volume of 9,357,113. The firm has a market cap of $428.59 million, a PE ratio of -1.02 and a beta of 2.29. The stock has a fifty day moving average price of $4.26 and a 200 day moving average price of $6.73. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86. Sunnova Energy International has a fifty-two week low of $2.99 and a fifty-two week high of $13.00.

Sunnova Energy International (NYSE:NOVA - Get Free Report) last posted 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). Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The firm had revenue of $235.30 million during the quarter, compared to the consensus estimate of $238.23 million. During the same period in the prior year, the company posted ($0.53) earnings per share. The company's revenue for the quarter was up 18.6% compared to the same quarter last year. On average, equities analysts anticipate that Sunnova Energy International will post -2.44 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Eric Michael Williams acquired 13,800 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The stock was bought at an average price of $3.60 per share, with a total value of $49,680.00. Following the acquisition, the chief financial officer now owns 13,800 shares in the company, valued at $49,680. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Akbar Mohamed acquired 50,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average price of $3.64 per share, for a total transaction of $182,000.00. Following the completion of the purchase, the director now directly owns 352,654 shares in the company, valued at $1,283,660.56. This trade represents a 16.52 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 118,517 shares of company stock valued at $439,605. Insiders own 4.50% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NOVA. Mercer Global Advisors Inc. ADV bought a new position in shares of Sunnova Energy International in the second quarter valued at approximately $78,000. AE Wealth Management LLC bought a new position in Sunnova Energy International in the 2nd quarter valued at $81,000. GAMMA Investing LLC grew its position in shares of 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 purchasing an additional 7,709 shares in the last quarter. Ballentine Partners LLC increased its holdings in shares of Sunnova Energy International by 72.2% in the second quarter. Ballentine Partners LLC now owns 18,559 shares of the company's stock worth $104,000 after purchasing an additional 7,783 shares during the period. Finally, Creative Planning bought a new stake in 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.