The Goldman Sachs Group Has Lowered Expectations for Sunnova Energy International (NYSE:NOVA) Stock Price

Sunnova Energy International (NYSE:NOVA - Free Report) had its price objective cut by The Goldman Sachs Group from $12.00 to $11.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also weighed in on NOVA. Royal Bank of Canada lowered Sunnova Energy International from an "outperform" rating to a "sector perform" rating in a research note on Monday, December 9th. Barclays reduced their price target on Sunnova Energy International from $12.00 to $10.00 and set an "overweight" rating on the stock in a report on Wednesday, October 16th. Wolfe Research downgraded Sunnova Energy International from a "strong-buy" rating to a "hold" rating in a report on Monday, November 4th. Piper Sandler reduced their target price on Sunnova Energy International from $8.00 to $4.50 and set a "neutral" rating on the stock in a report on Friday, November 22nd. Finally, Guggenheim downgraded Sunnova Energy International from a "buy" rating to a "neutral" rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $10.63.

Sunnova Energy International Price Performance

NOVA stock traded up $0.21 during mid-day trading on Tuesday, hitting $4.21. 15,158,428 shares of the stock were exchanged, compared to its average volume of 8,437,973. 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 fifty day moving average price of $4.99 and a 200 day moving average price of $6.95. Sunnova Energy International has a 12 month low of $2.99 and a 12 month high of $16.35. The stock has a market capitalization of $525.43 million, a price-to-earnings ratio of -1.25 and a beta of 2.22.

Sunnova Energy International (NYSE:NOVA - Get Free Report) last issued its quarterly earnings results 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 return on equity of 11.15% and a negative net margin of 51.02%. The firm had revenue of $235.30 million for the quarter, compared to the consensus estimate of $238.23 million. During the same period last year, the firm earned ($0.53) EPS. The company's revenue for the quarter was up 18.6% on a year-over-year basis. On average, sell-side analysts anticipate that Sunnova Energy International will post -2.44 EPS for the current year.

Insiders Place Their Bets

In other Sunnova Energy International news, CFO Eric Michael Williams acquired 13,800 shares of the business's stock in a transaction that occurred on Monday, November 18th. The shares were bought at an average cost 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 in the company, valued at $49,680. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Akbar Mohamed acquired 54,717 shares of the business's stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average cost of $3.80 per share, for a total transaction of $207,924.60. Following the completion of the acquisition, the director now owns 302,654 shares of the company's stock, 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. Insiders bought a total of 118,517 shares of company stock valued at $439,605 over the last 90 days. Insiders own 4.50% of the company's stock.

Hedge Funds Weigh In On Sunnova Energy International

Several institutional investors and hedge funds have recently bought and sold shares of NOVA. International Assets Investment Management LLC grew its holdings 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 buying an additional 2,992 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Sunnova Energy International by 736.3% in the third quarter. GAMMA Investing LLC now owns 8,756 shares of the company's stock worth $85,000 after acquiring an additional 7,709 shares during the period. Creative Planning acquired a new position in shares of Sunnova Energy International during the 3rd quarter worth about $107,000. Presidio Capital Management LLC acquired a new position in shares of Sunnova Energy International during the 2nd quarter worth about $67,000. Finally, nVerses Capital LLC raised its position in shares of Sunnova Energy International by 237.8% during the 2nd quarter. nVerses Capital LLC now owns 12,500 shares of the company's stock worth $70,000 after purchasing an additional 8,800 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.