Sunnova Energy International (NYSE:NOVA) Rating Lowered to Hold at Wolfe Research

Wolfe Research downgraded shares of Sunnova Energy International (NYSE:NOVA - Free Report) from a strong-buy rating to a hold rating in a report published on Monday morning, Zacks.com reports.

Other analysts have also recently issued reports about the company. Scotiabank increased their price target on Sunnova Energy International from $10.00 to $14.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, August 6th. Barclays dropped their price target on Sunnova Energy International from $12.00 to $10.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 16th. Truist Financial increased their price objective on Sunnova Energy International from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft decreased their price objective on Sunnova Energy International from $9.00 to $6.25 and set a "hold" rating for the company in a report on Friday, November 1st. Finally, The Goldman Sachs Group increased their price objective on Sunnova Energy International from $10.00 to $13.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Sunnova Energy International presently has a consensus rating of "Moderate Buy" and an average price target of $11.61.

Sunnova Energy International Price Performance

NYSE NOVA traded down $3.64 on Monday, hitting $3.42. 55,620,769 shares of the stock traded hands, compared to its average volume of 8,438,433. The stock has a 50-day moving average of $8.51 and a 200 day moving average of $6.95. Sunnova Energy International has a twelve month low of $3.25 and a twelve month 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 announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $238.23 million. During the same quarter in the previous year, the company earned ($0.53) EPS. The company's quarterly revenue was up 18.6% compared to the same quarter last year. Equities research analysts expect that Sunnova Energy International will post -2.27 EPS for the current year.

Insiders Place Their Bets

In other Sunnova Energy International news, insider William J. Berger sold 77,000 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $11.31, for a total transaction of $870,870.00. Following the transaction, the insider now directly owns 409,045 shares of the company's stock, valued at $4,626,298.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 made changes to their positions in the business. First Affirmative Financial Network grew its position in shares of Sunnova Energy International by 12.9% in the second quarter. First Affirmative Financial Network now owns 14,829 shares of the company's stock valued at $83,000 after purchasing an additional 1,691 shares during the last quarter. First Trust Direct Indexing L.P. lifted its stake in Sunnova Energy International by 11.6% during the third quarter. First Trust Direct Indexing L.P. now owns 19,373 shares of the company's stock worth $189,000 after purchasing an additional 2,016 shares during the period. Ballentine Partners LLC lifted its stake in Sunnova Energy International by 15.9% during the third quarter. Ballentine Partners LLC now owns 21,515 shares of the company's stock worth $210,000 after purchasing an additional 2,956 shares during the period. International Assets Investment Management LLC raised its stake in shares of Sunnova Energy International by 37,400.0% in the third quarter. International Assets Investment Management LLC now owns 3,000 shares of the company's stock valued at $308,000 after acquiring an additional 2,992 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Sunnova Energy International by 6.7% in the second quarter. The Manufacturers Life Insurance Company now owns 56,487 shares of the company's stock valued at $315,000 after acquiring an additional 3,559 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.