Sunnova Energy International (NASDAQ:NOVA) Rating Lowered to Hold at Zacks Investment Research

Sunnova Energy International (NASDAQ:NOVA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

According to Zacks, “Sunnova Energy International Inc. is a residential solar and energy storage service provider. It operates primarily in U.S. states and territories. Sunnova Energy International Inc. is based in Houston, United States. “

A number of other equities analysts have also issued reports on NOVA. Credit Suisse Group started coverage on shares of Sunnova Energy International in a research report on Tuesday, August 20th. They set an “outperform” rating and a $14.00 target price on the stock. JPMorgan Chase & Co. started coverage on shares of Sunnova Energy International in a research report on Monday, August 19th. They set an “overweight” rating and a $18.00 target price on the stock. Bank of America started coverage on shares of Sunnova Energy International in a research report on Monday, August 19th. They set a “buy” rating and a $15.00 target price on the stock. Robert W. Baird started coverage on shares of Sunnova Energy International in a research report on Tuesday, August 20th. They set an “outperform” rating and a $15.00 target price on the stock. Finally, Roth Capital started coverage on shares of Sunnova Energy International in a research report on Tuesday, August 20th. They set a “buy” rating and a $15.00 target price on the stock. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $14.88.

Shares of Sunnova Energy International stock opened at $9.85 on Wednesday. Sunnova Energy International has a 1-year low of $8.01 and a 1-year high of $12.28. The business’s 50-day moving average price is $10.54.

Sunnova Energy International (NASDAQ:NOVA) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.26) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.04). The business had revenue of $36.62 million for the quarter, compared to analysts’ expectations of $37.81 million.

In other Sunnova Energy International news, Director Michael C. Morgan acquired 25,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were acquired at an average cost of $8.53 per share, for a total transaction of $213,250.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert Lawrence Lane acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was acquired at an average price of $10.00 per share, for a total transaction of $100,000.00. Following the completion of the acquisition, the insider now directly owns 15,000 shares of the company’s stock, valued at $150,000. The disclosure for this purchase can be found here.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers acquired a new position in Sunnova Energy International in the third quarter valued at approximately $110,000. State of Tennessee Treasury Department acquired a new position in Sunnova Energy International in the third quarter valued at approximately $301,000. Kayne Anderson Capital Advisors LP acquired a new position in Sunnova Energy International in the third quarter valued at approximately $391,000. Dean Capital Investments Management LLC acquired a new position in Sunnova Energy International in the third quarter valued at approximately $573,000. Finally, Svenska Handelsbanken AB publ acquired a new position in Sunnova Energy International in the third quarter valued at approximately $610,000.

About Sunnova Energy International

Sunnova Energy International Inc focuses on operating as a holding company for Sunnova Energy Corporation that provides residential solar and energy storage services in the United States, Puerto Rico, and the Northern Mariana Islands. Its services include operations and maintenance, monitoring, repairs and replacements, equipment upgrades, onsite power optimization, and diagnostics.

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