Sunnova Energy International (NYSE:NOVA) Stock Price Down 3%

Sunnova Energy International Inc. (NYSE:NOVA) dropped 3% during trading on Monday . The company traded as low as $5.36 and last traded at $5.41. Approximately 623,671 shares traded hands during trading, a decline of 93% from the average daily volume of 8,519,095 shares. The stock had previously closed at $5.58.

Wall Street Analyst Weigh In

NOVA has been the topic of a number of recent research reports. BMO Capital Markets dropped their price target on Sunnova Energy International from $10.00 to $6.00 and set a “market perform” rating on the stock in a research report on Friday, May 3rd. Scotiabank dropped their price target on Sunnova Energy International from $20.00 to $10.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 29th. Evercore ISI dropped their price target on Sunnova Energy International from $26.00 to $17.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $6.00 price target (down previously from $11.00) on shares of Sunnova Energy International in a research report on Friday, April 19th. Finally, KeyCorp cut Sunnova Energy International from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, April 23rd. Eight research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.73.

Sunnova Energy International Stock Performance

The firm has a 50-day moving average of $4.86 and a 200-day moving average of $7.50. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 3.41.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.57) earnings per share for the quarter, topping the consensus estimate of ($0.79) by $0.22. Sunnova Energy International had a negative return on equity of 12.10% and a negative net margin of 56.52%. The business had revenue of $160.90 million during the quarter, compared to analysts’ expectations of $193.78 million. During the same quarter last year, the business posted ($0.70) EPS. The business’s revenue was down .5% on a year-over-year basis. Research analysts forecast that Sunnova Energy International Inc. will post -1.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sunnova Energy International

Institutional investors and hedge funds have recently bought and sold shares of the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Sunnova Energy International in the 1st quarter worth approximately $25,000. Manchester Capital Management LLC lifted its stake in shares of Sunnova Energy International by 2,959.7% in the 4th quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock valued at $29,000 after purchasing an additional 1,835 shares during the period. Caxton Associates LP purchased a new position in shares of Sunnova Energy International in the 1st quarter valued at approximately $62,000. First Trust Direct Indexing L.P. purchased a new position in shares of Sunnova Energy International in the 1st quarter valued at approximately $66,000. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Sunnova Energy International by 129.9% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,788 shares of the company’s stock valued at $72,000 after purchasing an additional 6,661 shares during the period.

About Sunnova Energy International

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.