Sunnova Energy International (NYSE:NOVA) Cut to Hold at Baird R W

Baird R W downgraded shares of Sunnova Energy International (NYSE:NOVA) from a strong-buy rating to a hold rating in a research report released on Monday morning,Zacks.com reports.

A number of other equities analysts have also commented on NOVA. Royal Bank of Canada lowered their price objective on Sunnova Energy International from $5.00 to $0.75 and set a “sector perform” rating on the stock in a research note on Tuesday. Robert W. Baird restated a “neutral” rating and set a $2.00 price objective (down previously from $9.00) on shares of Sunnova Energy International in a research note on Monday. BMO Capital Markets lowered their price objective on Sunnova Energy International from $4.00 to $0.85 and set a “market perform” rating on the stock in a research note on Tuesday. 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. Finally, Janney Montgomery Scott lowered Sunnova Energy International from a “buy” rating to a “neutral” rating and set a $1.00 price objective on the stock. in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Sunnova Energy International currently has a consensus rating of “Hold” and an average target price of $5.39.

Sunnova Energy International Stock Performance

NYSE:NOVA opened at $0.55 on Monday. The stock has a market cap of $68.22 million, a P/E ratio of -0.16 and a beta of 2.64. The stock has a 50 day simple moving average of $2.70 and a 200 day simple moving average of $5.49. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26. Sunnova Energy International has a 1-year low of $0.47 and a 1-year high of $13.00.

Sunnova Energy International (NYSE:NOVA) last released its quarterly 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 firm had revenue of $224.13 million for the quarter, compared to analyst estimates of $235.85 million. Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. During the same period in the previous year, the business posted $0.37 earnings per share. Research analysts anticipate that Sunnova Energy International will post -2.63 earnings per share for the current year.

Institutional Trading of Sunnova Energy International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its position in 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 valued at $308,000 after buying an additional 2,992 shares in the last quarter. Cibc World Markets Corp bought a new stake in Sunnova Energy International in the 4th quarter valued at about $35,000. Two Sigma Advisers LP bought a new stake in Sunnova Energy International in the 4th quarter valued at about $35,000. Crux Wealth Advisors bought a new stake in Sunnova Energy International in the 4th quarter valued at about $35,000. Finally, Creative Planning bought a new stake in Sunnova Energy International in the 3rd 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.