Sunnova Energy International (NYSE:NOVA) Price Target Lowered to $11.00 at JPMorgan Chase & Co.

Sunnova Energy International (NYSE:NOVA) had its price objective decreased by JPMorgan Chase & Co. from $14.00 to $11.00 in a research note released on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other brokerages have also commented on NOVA. Wells Fargo & Company decreased their price objective on shares of Sunnova Energy International from $8.00 to $4.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Sunnova Energy International from $9.00 to $6.25 and set a “hold” rating for the company in a report on Friday, November 1st. Wolfe Research lowered Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. Morgan Stanley dropped their price target 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. Finally, Robert W. Baird decreased their price objective on Sunnova Energy International from $12.00 to $9.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $9.64.

Sunnova Energy International Stock Performance

Shares of NYSE:NOVA opened at $3.22 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26. The company has a market cap of $402.59 million, a price-to-earnings ratio of -0.96 and a beta of 2.29. Sunnova Energy International has a 12 month low of $2.64 and a 12 month high of $13.00. The company has a 50-day moving average price of $4.04 and a 200-day moving average price of $6.59.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings data 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 business 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 quarter last year, the business posted ($0.53) EPS. As a group, equities analysts anticipate that Sunnova Energy International will post -2.57 EPS for the current year.

Insider Activity at Sunnova Energy International

In other Sunnova Energy International news, CFO Eric Michael Williams purchased 13,800 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were bought at an average price of $3.60 per share, with a total value of $49,680.00. Following the completion of the purchase, the chief financial officer now directly owns 13,800 shares in the company, valued at $49,680. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Akbar Mohamed bought 54,717 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were acquired at an average price of $3.80 per share, for a total transaction of $207,924.60. Following the completion of the transaction, the director now directly owns 302,654 shares in the company, valued at approximately $1,150,085.20. This represents a 22.07 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 118,517 shares of company stock valued at $439,605. Corporate insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Sunnova Energy International

Large investors have recently added to or reduced their stakes in the stock. First Trust Direct Indexing L.P. increased its position in shares of Sunnova Energy International by 11.6% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 19,373 shares of the company’s stock valued at $189,000 after purchasing an additional 2,016 shares during the last quarter. Ballentine Partners LLC raised its stake in shares of Sunnova Energy International by 15.9% in the third quarter. Ballentine Partners LLC now owns 21,515 shares of the company’s stock valued at $210,000 after acquiring an additional 2,956 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Sunnova Energy International by 37,400.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,000 shares of the company’s stock worth $308,000 after acquiring an additional 2,992 shares during the last quarter. Peapack Gladstone Financial Corp boosted its stake in shares of Sunnova Energy International by 11.0% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 32,200 shares of the company’s stock worth $314,000 after purchasing an additional 3,200 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in Sunnova Energy International by 6.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,487 shares of the company’s stock valued at $315,000 after purchasing 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.