Sunnova Energy International Inc. (NYSE:NOVA – Get Rating)’s stock price fell 6.3% on Thursday after Piper Sandler lowered their price target on the stock from $36.00 to $33.00. The company traded as low as $17.08 and last traded at $17.08. 26,553 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 2,971,541 shares. The stock had previously closed at $18.23.
Other equities analysts also recently issued reports about the company. Raymond James cut their target price on Sunnova Energy International from $50.00 to $32.00 and set a “strong-buy” rating for the company in a research note on Thursday, February 24th. Truist Financial lowered their price target on shares of Sunnova Energy International from $53.00 to $32.00 and set a “buy” rating on the stock in a research note on Monday, January 24th. The Goldman Sachs Group downgraded shares of Sunnova Energy International from a “conviction-buy” rating to a “buy” rating in a report on Sunday, January 9th. Zacks Investment Research upgraded shares of Sunnova Energy International from a “sell” rating to a “hold” rating in a research report on Tuesday, January 25th. Finally, Robert W. Baird reduced their price target on shares of Sunnova Energy International from $56.00 to $46.00 in a research report on Monday, February 28th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $47.79.
In related news, insider Chris Hayden sold 3,780 shares of the stock in a transaction dated Monday, March 14th. The stock was sold at an average price of $21.71, for a total transaction of $82,063.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Akbar Mohamed purchased 10,000 shares of the stock in a transaction on Thursday, March 3rd. The stock was acquired at an average price of $19.09 per share, with a total value of $190,900.00. The disclosure for this purchase can be found here. 4.10% of the stock is owned by company insiders.
The firm has a fifty day moving average of $21.37 and a 200-day moving average of $27.25. The company has a debt-to-equity ratio of 2.12, a quick ratio of 1.98 and a current ratio of 1.98. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of -12.65 and a beta of 2.21.
Sunnova Energy International (NYSE:NOVA – Get Rating) last posted its earnings results on Wednesday, February 23rd. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.09. The business had revenue of $65.02 million during the quarter, compared to analyst estimates of $64.66 million. Sunnova Energy International had a negative return on equity of 10.44% and a negative net margin of 57.14%. On average, analysts predict that Sunnova Energy International Inc. will post -1.06 EPS for the current year.
Sunnova Energy International Company Profile (NYSE:NOVA)
Sunnova Energy International Inc provides residential energy services 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 diagnostics services. As of December 31, 2021, it operated a fleet of residential solar energy systems with a generation capacity of approximately 1,140 megawatts serving over 195,000 customers.
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