Sunnova Energy International (NYSE:NOVA) Cut to “Equal Weight” at Barclays

Barclays lowered shares of Sunnova Energy International (NYSE:NOVA) from an overweight rating to an equal weight rating in a research report sent to investors on Wednesday morning, MarketBeat reports. They currently have $1.00 target price on the stock, down from their prior target price of $9.00.

Other research analysts have also issued reports about the stock. Susquehanna lowered shares of Sunnova Energy International from a “positive” rating to a “neutral” rating and cut their target price for the stock from $14.00 to $4.50 in a research note on Friday, January 10th. Jefferies Financial Group lowered shares of Sunnova Energy International from a “buy” rating to a “hold” rating and cut their target price for the stock from $9.00 to $2.00 in a research note on Friday, February 7th. Guggenheim lowered shares of Sunnova Energy International from a “buy” rating to a “neutral” rating in a research note on Thursday, November 7th. Piper Sandler lowered their price objective on shares of Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating on the stock in a report on Friday, November 22nd. Finally, Roth Mkm downgraded shares of Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Sunnova Energy International currently has an average rating of “Hold” and an average target price of $5.39.

Sunnova Energy International Trading Down 3.3 %

NYSE:NOVA opened at $0.50 on Wednesday. The firm’s fifty day moving average is $2.63 and its 200-day moving average is $5.45. 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 has a 52 week low of $0.47 and a 52 week high of $13.00. The firm has a market cap of $62.85 million, a P/E ratio of -0.15 and a beta of 2.64.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings data on Monday, March 3rd. The company reported ($2.96) 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 firm 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 company posted $0.37 earnings per share. Equities analysts expect that Sunnova Energy International will post -2.63 earnings per share for the current year.

Hedge Funds Weigh In On Sunnova Energy International

Several institutional investors have recently added to or reduced their stakes in NOVA. Erste Asset Management GmbH bought a new position in Sunnova Energy International during the third quarter valued at about $76,550,000. Sylebra Capital LLC boosted its position in Sunnova Energy International by 125.6% during the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock worth $121,195,000 after purchasing an additional 6,926,399 shares during the period. CenterBook Partners LP bought a new position in Sunnova Energy International during the fourth quarter worth about $8,565,000. Invesco Ltd. boosted its position in Sunnova Energy International by 55.2% during the fourth quarter. Invesco Ltd. now owns 6,082,399 shares of the company’s stock worth $20,863,000 after purchasing an additional 2,162,379 shares during the period. Finally, Capital Fund Management S.A. boosted its position in Sunnova Energy International by 456.4% during the fourth quarter. Capital Fund Management S.A. now owns 1,737,569 shares of the company’s stock worth $5,960,000 after purchasing an additional 1,425,281 shares during the period.

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.