Robert W. Baird Cuts Sunnova Energy International (NYSE:NOVA) Price Target to $12.00

by · The Markets Daily

Sunnova Energy International (NYSE:NOVA – Free Report) had its target price lowered by Robert W. Baird from $18.00 to $12.00 in a research report report published on Friday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

A number of other research firms have also weighed in on NOVA. Wells Fargo & Company lifted their target price on Sunnova Energy International from $6.00 to $9.00 and gave the company an “equal weight” rating in a report on Tuesday, August 6th. Citigroup decreased their target price on shares of Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. The Goldman Sachs Group raised their price target on shares of Sunnova Energy International from $10.00 to $13.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Royal Bank of Canada upped their price target on shares of Sunnova Energy International from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Finally, Susquehanna lifted their price objective on Sunnova Energy International from $12.00 to $14.00 and gave the company a “positive” rating in a research note on Friday, August 2nd. Seven 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 an average rating of “Moderate Buy” and an average price target of $11.61.

Read Our Latest Research Report on Sunnova Energy International

Sunnova Energy International Stock Performance

NYSE NOVA opened at $5.73 on Friday. The company’s 50 day moving average is $8.69 and its 200-day moving average is $6.91. The firm has a market cap of $715.45 million, a P/E ratio of -1.71 and a beta of 2.26. Sunnova Energy International has a 12-month low of $3.37 and a 12-month high of $16.35. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 3.11.

Sunnova Energy International (NYSE:NOVA – Get Free Report) last posted its 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). The company had revenue of $235.30 million for the quarter, compared to analysts’ expectations of $238.23 million. Sunnova Energy International had a negative return on equity of 11.46% and a negative net margin of 51.02%. The company’s revenue was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.53) EPS. Sell-side analysts predict that Sunnova Energy International will post -1.99 earnings per share for the current year.

Insider Activity

In related news, insider William J. Berger sold 77,000 shares of Sunnova Energy International stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $11.31, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 4.50% of the company’s stock.

Institutional Trading of Sunnova Energy International

Large investors have recently modified their holdings of the business. Sylebra Capital LLC purchased a new stake in Sunnova Energy International in the 2nd quarter worth approximately $30,783,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Sunnova Energy International by 56.7% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 14,142,487 shares of the company’s stock valued at $78,915,000 after acquiring an additional 5,118,552 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in Sunnova Energy International by 9.1% in the third quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock worth $71,097,000 after acquiring an additional 611,452 shares during the period. Electron Capital Partners LLC boosted its holdings in Sunnova Energy International by 24.5% in the second quarter. Electron Capital Partners LLC now owns 3,004,938 shares of the company’s stock valued at $16,768,000 after acquiring an additional 591,514 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its position in Sunnova Energy International by 3,168.8% during the 1st quarter. Westwood Holdings Group Inc. now owns 574,127 shares of the company’s stock valued at $3,519,000 after purchasing an additional 556,563 shares during the period.

About Sunnova Energy International

(Get Free Report)

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.

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