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

UBS Group downgraded shares of Sunnova Energy International (NYSE:NOVA) from a buy rating to a neutral rating in a research note issued to investors on Tuesday morning, MarketBeat.com reports. They currently have $0.65 price target on the stock, down from their prior price target of $5.00.

Other research analysts have also issued research reports about the stock. The Goldman Sachs Group dropped their price objective on shares of Sunnova Energy International from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, December 17th. TD Cowen initiated coverage on shares of Sunnova Energy International in a research note on Thursday, December 19th. They issued a “hold” rating and a $5.00 price target on the stock. Jefferies Financial Group cut Sunnova Energy International from a “buy” rating to a “hold” rating and reduced their price objective for the company from $9.00 to $2.00 in a research report on Friday, February 7th. Morgan Stanley dropped their target price 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, Truist Financial lowered Sunnova Energy International from a “buy” rating to a “hold” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $6.59.

Sunnova Energy International Stock Performance

Shares of Sunnova Energy International stock opened at $0.67 on Tuesday. Sunnova Energy International has a 12 month low of $0.47 and a 12 month high of $13.00. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26. The stock has a market cap of $83.84 million, a PE ratio of -0.20 and a beta of 2.28. The business has a fifty day simple moving average of $2.76 and a 200-day simple moving average of $5.52.

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

Institutional Investors Weigh In On Sunnova Energy International

Several hedge funds and other institutional investors have recently modified their holdings of NOVA. International Assets Investment Management LLC raised its stake 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 valued at $308,000 after purchasing an additional 2,992 shares during the last quarter. Cibc World Markets Corp bought a new position in shares of Sunnova Energy International during the 4th quarter worth about $35,000. Two Sigma Advisers LP acquired a new position in shares of Sunnova Energy International during the fourth quarter valued at about $35,000. Crux Wealth Advisors acquired a new stake in Sunnova Energy International during the fourth quarter worth about $35,000. Finally, Creative Planning bought a new position in Sunnova Energy International during the third quarter valued at about $107,000.

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.