Sunnova Energy International (NYSE:NOVA) Cut to “Neutral” at Mizuho

Mizuho downgraded shares of Sunnova Energy International (NYSE:NOVA) from an outperform rating to a neutral rating in a research report sent to investors on Wednesday morning, Marketbeat reports. Mizuho currently has $1.00 price objective on the stock, down from their previous price objective of $11.00.

A number of other brokerages also recently weighed in on NOVA. JPMorgan Chase & Co. downgraded Sunnova Energy International from an “overweight” rating to a “neutral” rating in a research report on Monday, March 3rd. TD Cowen began coverage on Sunnova Energy International in a research report on Thursday, December 19th. They set a “hold” rating and a $5.00 price objective on the stock. Barclays downgraded Sunnova Energy International from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $9.00 to $1.00 in a research report on Wednesday. Guggenheim downgraded Sunnova Energy International from a “buy” rating to a “neutral” rating in a research report on Thursday, November 7th. Finally, Susquehanna downgraded Sunnova Energy International from a “positive” rating to a “neutral” rating and dropped their price objective for the company from $14.00 to $4.50 in a research report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $5.39.

Sunnova Energy International Price Performance

NOVA opened at $0.50 on Wednesday. Sunnova Energy International has a 12-month low of $0.47 and a 12-month high of $13.00. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26. The business’s fifty day simple moving average is $2.63 and its 200-day simple moving average is $5.45. The company has a market capitalization of $62.85 million, a price-to-earnings ratio of -0.15 and a beta of 2.64.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings results 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 return on equity of 11.15% and a negative net margin of 51.02%. The firm had revenue of $224.13 million for the quarter, compared to the consensus estimate of $235.85 million. During the same period in the previous year, the company posted $0.37 EPS. On average, equities research analysts anticipate that Sunnova Energy International will post -2.63 earnings per share for the current fiscal year.

Institutional Trading of Sunnova Energy International

A number of institutional investors have recently made changes to their positions in NOVA. Creative Planning acquired a new stake in shares of Sunnova Energy International in the third quarter worth approximately $107,000. International Assets Investment Management LLC boosted its stake in shares of Sunnova Energy International by 37,400.0% in the third quarter. International Assets Investment Management LLC now owns 3,000 shares of the company’s stock worth $308,000 after acquiring an additional 2,992 shares during the last quarter. First Trust Direct Indexing L.P. boosted its stake in shares of Sunnova Energy International by 11.6% in the third quarter. First Trust Direct Indexing L.P. now owns 19,373 shares of the company’s stock worth $189,000 after acquiring 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 third quarter. GSA Capital Partners LLP now owns 130,741 shares of the company’s stock worth $1,273,000 after acquiring an additional 28,931 shares during the last quarter. Finally, Mizuho Markets Americas LLC boosted its stake in Sunnova Energy International by 53.7% during the third quarter. Mizuho Markets Americas LLC now owns 282,805 shares of the company’s stock worth $2,755,000 after buying 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.