Sunnova Energy International (NYSE:NOVA) Lowered to Hold Rating by Truist Financial

Sunnova Energy International (NYSE:NOVA) was downgraded by research analysts at Truist Financial from a “buy” rating to a “hold” rating in a research note issued to investors on Monday,Briefing.com Automated Import reports.

Other analysts also recently issued reports about the stock. Guggenheim downgraded shares of Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Roth Mkm cut Sunnova Energy International from a “buy” rating to a “neutral” rating in a research report on Monday. TD Cowen started coverage on shares of Sunnova Energy International in a research note on Thursday, December 19th. They set a “hold” rating and a $5.00 price objective for the company. The Goldman Sachs Group cut their target price on Sunnova Energy International from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, December 17th. Finally, Piper Sandler cut their price target on shares of Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating for the company in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $8.72.

Sunnova Energy International Stock Performance

NOVA traded down $1.02 during midday trading on Monday, hitting $0.65. 95,285,945 shares of the company were exchanged, compared to its average volume of 11,834,880. Sunnova Energy International has a 1-year low of $0.48 and a 1-year 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 firm has a market capitalization of $80.59 million, a price-to-earnings ratio of -0.20 and a beta of 2.28. The company’s 50 day simple moving average is $2.89 and its 200 day simple moving average is $5.63.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sylebra Capital LLC raised its holdings 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 in the last quarter. Erste Asset Management GmbH acquired a new stake in Sunnova Energy International in the third quarter valued at about $76,550,000. Invesco Ltd. lifted its holdings in shares of Sunnova Energy International by 55.2% in the 4th quarter. Invesco Ltd. now owns 6,082,399 shares of the company’s stock valued at $20,863,000 after buying an additional 2,162,379 shares during the period. Amundi lifted its holdings in Sunnova Energy International by 11.2% in the fourth quarter. Amundi now owns 4,385,286 shares of the company’s stock valued at $14,988,000 after acquiring an additional 441,232 shares during the period. Finally, Electron Capital Partners LLC lifted its stake in shares of Sunnova Energy International by 1.0% in the fourth quarter. Electron Capital Partners LLC now owns 3,447,218 shares of the company’s stock valued at $11,824,000 after purchasing an additional 35,233 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.