Sunnova Energy International (NYSE:NOVA) Downgraded to “Hold” Rating by Roth Capital

Sunnova Energy International (NYSE:NOVA) was downgraded by analysts at Roth Capital from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

A number of other research analysts have also commented on the stock. UBS Group lowered shares of Sunnova Energy International from a “buy” rating to a “neutral” rating and cut their price objective for the company from $5.00 to $0.65 in a research report on Tuesday. Janney Montgomery Scott lowered shares of Sunnova Energy International from a “buy” rating to a “neutral” rating and set a $1.00 price objective for the company. in a research report on Tuesday. Truist Financial lowered shares of Sunnova Energy International from a “buy” rating to a “hold” rating in a research report on Monday. The Goldman Sachs Group lowered shares of Sunnova Energy International from a “buy” rating to a “neutral” rating and cut their price objective for the company from $10.00 to $1.00 in a research report on Tuesday. Finally, BMO Capital Markets cut their price objective on shares of Sunnova Energy International from $4.00 to $0.85 and set a “market perform” rating for the company in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.59.

Sunnova Energy International Stock Up 13.1 %

Sunnova Energy International stock opened at $0.67 on Monday. The firm has a market cap of $83.84 million, a price-to-earnings ratio of -0.20 and a beta of 2.28. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86. Sunnova Energy International has a fifty-two week low of $0.47 and a fifty-two week high of $13.00. The firm has a fifty day moving average price of $2.76 and a two-hundred day moving average price of $5.52.

Sunnova Energy International (NYSE:NOVA) last released its earnings results on Monday, March 3rd. The company reported ($2.96) earnings per share for the quarter, missing analysts’ consensus estimates 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 prior year, the firm earned $0.37 EPS. As a group, analysts forecast that Sunnova Energy International will post -2.63 earnings per share for the current year.

Institutional Trading of Sunnova Energy International

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. First Trust Direct Indexing L.P. increased its holdings 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 valued at $189,000 after purchasing an additional 2,016 shares in the last quarter. International Assets Investment Management LLC increased its holdings 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 valued at $308,000 after purchasing an additional 2,992 shares in the last quarter. Peapack Gladstone Financial Corp increased its holdings in shares of Sunnova Energy International by 11.0% in 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 in the last quarter. PFG Investments LLC increased its holdings in shares of 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 in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its holdings in shares of Sunnova Energy International by 38.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 20,490 shares of the company’s stock valued at $70,000 after purchasing an additional 5,662 shares in 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.