Piper Sandler Lowers Sunnova Energy International (NYSE:NOVA) Price Target to $1.00

Sunnova Energy International (NYSE:NOVA) had its target price reduced by research analysts at Piper Sandler from $4.50 to $1.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 92.68% from the stock’s current price.

A number of other research firms also recently commented on NOVA. Baird R W downgraded Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a report on Monday. Robert W. Baird restated a “neutral” rating and issued a $2.00 price target (down from $9.00) on shares of Sunnova Energy International in a report on Monday. Susquehanna downgraded Sunnova Energy International from a “positive” rating to a “neutral” rating and lowered their price target for the stock from $14.00 to $4.50 in a report on Friday, January 10th. Wells Fargo & Company downgraded Sunnova Energy International from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $4.00 to $0.50 in a report on Tuesday. Finally, JPMorgan Chase & Co. downgraded Sunnova Energy International from an “overweight” rating to a “neutral” rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.39.

Sunnova Energy International Trading Down 6.3 %

NYSE NOVA opened at $0.52 on Wednesday. The stock has a 50-day simple moving average of $2.63 and a 200 day simple moving average of $5.45. The company has a market capitalization of $64.85 million, a PE ratio of -0.15 and a beta of 2.64. 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 12 month low of $0.47 and a 12 month high of $13.00.

Sunnova Energy International (NYSE:NOVA) last released 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). The company had revenue of $224.13 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the company posted $0.37 EPS. Research analysts forecast that Sunnova Energy International will post -2.63 EPS for the current year.

Hedge Funds Weigh In On Sunnova Energy International

Large investors have recently made changes to their positions in the company. Cibc World Markets Corp bought a new position in shares of Sunnova Energy International during the fourth quarter worth approximately $35,000. Crux Wealth Advisors bought a new position in Sunnova Energy International during the 4th quarter worth $35,000. Two Sigma Advisers LP bought a new position in Sunnova Energy International during the 4th quarter worth $35,000. Integrated Wealth Concepts LLC bought a new position in Sunnova Energy International during the 4th quarter worth $40,000. Finally, Teza Capital Management LLC bought a new position in Sunnova Energy International during the 4th quarter worth $48,000.

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.