Barclays Cuts Sunnova Energy International (NYSE:NOVA) Price Target to $9.00

Sunnova Energy International (NYSE:NOVA - Free Report) had its price objective cut by Barclays from $10.00 to $9.00 in a research note released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts have also commented on NOVA. JPMorgan Chase & Co. decreased their price objective on Sunnova Energy International from $14.00 to $11.00 and set an "overweight" rating for the company in a report on Thursday, January 23rd. Morgan Stanley cut their target price on 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. BNP Paribas lowered 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. Jefferies Financial Group assumed coverage on shares of Sunnova Energy International in a report on Thursday, October 10th. They set a "buy" rating and a $15.00 price objective on the stock. Finally, Wells Fargo & Company reduced their target price on shares of Sunnova Energy International from $8.00 to $4.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $9.60.

Sunnova Energy International Stock Down 4.9 %

Shares of NYSE NOVA traded down $0.13 during mid-day trading on Wednesday, reaching $2.45. 9,635,817 shares of the company's stock traded hands, compared to its average volume of 10,034,937. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50-day simple moving average of $3.89 and a 200 day simple moving average of $6.39. The stock has a market cap of $305.50 million, a P/E ratio of -0.73 and a beta of 2.28. Sunnova Energy International has a 1-year low of $2.30 and a 1-year high of $13.00.

Insider Buying and Selling

In other news, CFO Eric Michael Williams purchased 13,800 shares of the stock in a transaction on Monday, November 18th. The shares were acquired at an average price of $3.60 per share, with a total value of $49,680.00. Following the completion of the acquisition, the chief financial officer now directly 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 acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Akbar Mohamed bought 50,000 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The shares were acquired at an average cost of $3.64 per share, for a total transaction of $182,000.00. Following 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. Insiders bought a total of 118,517 shares of company stock worth $439,605 in the last three months. Insiders own 4.50% of the company's stock.

Institutional Trading of Sunnova Energy International

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wolverine Asset Management LLC lifted its stake in shares of Sunnova Energy International by 50.6% during the 4th quarter. Wolverine Asset Management LLC now owns 378,109 shares of the company's stock worth $1,297,000 after purchasing an additional 126,986 shares during the last quarter. Atria Wealth Solutions Inc. lifted its position in shares of Sunnova Energy International by 85.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 24,845 shares of the company's stock valued at $85,000 after buying an additional 11,435 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new stake in shares of Sunnova Energy International during the fourth quarter valued at about $114,000. Kempner Capital Management Inc. bought a new stake in shares of Sunnova Energy International in the 4th quarter valued at about $51,000. Finally, Swedbank AB grew its position in shares of Sunnova Energy International by 19.2% in the 4th quarter. Swedbank AB now owns 341,652 shares of the company's stock worth $1,172,000 after buying an additional 55,000 shares during 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.