Sunnova Energy International (NYSE:NOVA) Coverage Initiated at TD Cowen

TD Cowen began coverage on shares of Sunnova Energy International (NYSE:NOVA - Free Report) in a research note released on Thursday morning, Marketbeat reports. The firm issued a hold rating and a $5.00 price objective on the stock.

A number of other equities research analysts have also issued reports on the company. Morgan Stanley dropped 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. Jefferies Financial Group started coverage on Sunnova Energy International in a research report on Thursday, October 10th. They set a "buy" rating and a $15.00 price objective for the company. Piper Sandler dropped their price target on shares of Sunnova Energy International from $8.00 to $4.50 and set a "neutral" rating on the stock in a research report on Friday, November 22nd. The Goldman Sachs Group decreased their price target on shares of Sunnova Energy International from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Tuesday. Finally, 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. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $10.24.

Sunnova Energy International Price Performance

NOVA traded down $0.25 on Thursday, reaching $3.37. 11,476,551 shares of the company's stock were exchanged, compared to its average volume of 8,476,471. Sunnova Energy International has a twelve month low of $2.99 and a twelve month high of $16.35. 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 stock's fifty day moving average price is $4.81 and its 200-day moving average price is $6.90. The stock has a market cap of $421.08 million, a PE ratio of -1.01 and a beta of 2.22.

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 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 quarterly revenue was up 18.6% compared to the same quarter last year. During the same period last year, the business posted ($0.53) earnings per share. Sell-side analysts expect that Sunnova Energy International will post -2.44 EPS for the current year.

Insider Transactions at Sunnova Energy International

In related news, CFO Eric Michael Williams bought 13,800 shares of the business's stock in a transaction dated Monday, November 18th. The shares were 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 in the company, valued at $49,680. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Akbar Mohamed purchased 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, with a total value of $182,000.00. Following the acquisition, the director now directly owns 352,654 shares of the company's stock, 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. In the last three months, insiders bought 118,517 shares of company stock worth $439,605. 4.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sunnova Energy International

A number of hedge funds have recently added to or reduced their stakes in the company. Peapack Gladstone Financial Corp boosted its stake in Sunnova Energy International by 11.0% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 32,200 shares of the company's stock valued at $314,000 after acquiring an additional 3,200 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in shares of Sunnova Energy International by 36.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 695,582 shares of the company's stock valued at $6,775,000 after purchasing an additional 184,683 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Sunnova Energy International in the third quarter valued at approximately $433,000. Geode Capital Management LLC raised its position 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 worth $24,965,000 after purchasing an additional 88,945 shares in the last quarter. Finally, Sylebra Capital LLC raised its position in Sunnova Energy International by 125.6% in the 3rd quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company's stock valued at $121,195,000 after purchasing an additional 6,926,399 shares during the last quarter.

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.