Sunnova Energy International (NYSE:NOVA) Downgraded to “Neutral” Rating by The Goldman Sachs Group

The Goldman Sachs Group cut shares of Sunnova Energy International (NYSE:NOVA) from a buy rating to a neutral rating in a report published on Tuesday, MarketBeat Ratings reports. They currently have $1.00 price objective on the stock, down from their prior price objective of $10.00.

A number of other equities analysts have also commented on NOVA. Morgan Stanley lowered their price objective on Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Friday, November 15th. Roth Mkm cut Sunnova Energy International from a “buy” rating to a “neutral” rating in a research report on Monday. Robert W. Baird reaffirmed a “neutral” rating and set a $2.00 price objective (down previously from $9.00) on shares of Sunnova Energy International in a research report on Monday. TD Cowen began coverage on shares of Sunnova Energy International in a research report on Thursday, December 19th. They set a “hold” rating and a $5.00 price objective for the company. Finally, Jefferies Financial Group lowered shares of Sunnova Energy International from a “buy” rating to a “hold” rating and decreased their target price for the company from $9.00 to $2.00 in a report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sunnova Energy International presently has an average rating of “Hold” and an average target price of $6.59.

Sunnova Energy International Trading Up 13.1 %

Shares of Sunnova Energy International stock opened at $0.67 on Tuesday. The firm has a 50-day moving average of $2.76 and a 200-day moving average of $5.52. The stock has a market cap of $83.84 million, a PE ratio of -0.20 and a beta of 2.28. Sunnova Energy International has a 52-week low of $0.47 and a 52-week high of $13.00. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings data on Monday, March 3rd. The company reported ($2.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($2.17). Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The business had revenue of $224.13 million during the quarter, compared to the consensus estimate of $235.85 million. During the same period in the prior year, the firm earned $0.37 EPS. As a group, sell-side analysts forecast that Sunnova Energy International will post -2.63 EPS for the current year.

Hedge Funds Weigh In On Sunnova Energy International

Several large investors have recently modified their holdings of the business. Creative Planning bought a new position in shares of Sunnova Energy International during the third quarter worth about $107,000. International Assets Investment Management LLC raised its holdings in Sunnova Energy International by 37,400.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,000 shares of the company’s stock worth $308,000 after purchasing an additional 2,992 shares during the last quarter. First Trust Direct Indexing L.P. raised its holdings in 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 worth $189,000 after purchasing an additional 2,016 shares during the last quarter. GSA Capital Partners LLP boosted its stake in shares of Sunnova Energy International by 28.4% in the 3rd quarter. GSA Capital Partners LLP now owns 130,741 shares of the company’s stock valued at $1,273,000 after purchasing an additional 28,931 shares during the last quarter. Finally, Mizuho Markets Americas LLC boosted its stake in shares of Sunnova Energy International by 53.7% in the 3rd quarter. Mizuho Markets Americas LLC now owns 282,805 shares of the company’s stock valued at $2,755,000 after purchasing an additional 98,800 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.