Sunnova Energy International (NYSE:NOVA) Price Target Cut to $0.85 by Analysts at BMO Capital Markets

Sunnova Energy International (NYSE:NOVA) had its price target trimmed by BMO Capital Markets from $4.00 to $0.85 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a market perform rating on the stock.

NOVA has been the subject of a number of other research reports. Jefferies Financial Group lowered Sunnova Energy International from a “buy” rating to a “hold” rating and lowered their price target for the company from $9.00 to $2.00 in a report on Friday, February 7th. Guggenheim cut Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. downgraded Sunnova Energy International from an “overweight” rating to a “neutral” rating in a report on Monday. Wells Fargo & Company cut shares of Sunnova Energy International from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $4.00 to $0.50 in a report on Tuesday. Finally, Morgan Stanley reduced their price target on shares of Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating for the company in a report on Friday, November 15th. Two investment 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. Based on data from MarketBeat, Sunnova Energy International presently has an average rating of “Hold” and an average price target of $6.59.

Sunnova Energy International Stock Up 13.1 %

NYSE:NOVA opened at $0.67 on Tuesday. The company has a market cap of $83.84 million, a price-to-earnings ratio of -0.20 and a beta of 2.28. Sunnova Energy International has a twelve month low of $0.47 and a twelve 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 stock 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 posted its quarterly earnings results on Monday, March 3rd. The company reported ($2.96) EPS for the quarter, missing the consensus estimate of ($0.79) by ($2.17). The company had revenue of $224.13 million during the quarter, compared to analysts’ expectations 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 prior year, the business earned $0.37 EPS. Analysts anticipate that Sunnova Energy International will post -2.63 EPS for the current year.

Institutional Investors Weigh In On Sunnova Energy International

Large investors have recently made changes to their positions in the stock. First Trust Direct Indexing L.P. lifted its stake 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 valued at $189,000 after acquiring an additional 2,016 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Sunnova Energy International by 37,400.0% during the third 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. Peapack Gladstone Financial Corp lifted its position in Sunnova Energy International by 11.0% during the third quarter. Peapack Gladstone Financial Corp now owns 32,200 shares of the company’s stock valued at $314,000 after purchasing an additional 3,200 shares during the period. PFG Investments LLC boosted its holdings in Sunnova Energy International by 37.0% in the fourth quarter. PFG Investments LLC now owns 18,345 shares of the company’s stock valued at $63,000 after purchasing an additional 4,955 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its position in Sunnova Energy International by 38.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 20,490 shares of the company’s stock worth $70,000 after purchasing an additional 5,662 shares during the period.

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.