Sunnova Energy International (NYSE:NOVA) Cut to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Sunnova Energy International (NYSE:NOVA) from an overweight rating to a neutral rating in a research note issued to investors on Monday, MarketBeat reports.

Several other analysts also recently issued reports on the company. Barclays cut their price target on Sunnova Energy International from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Jefferies Financial Group cut Sunnova Energy International from a “buy” rating to a “hold” rating and lowered their target price for the company from $9.00 to $2.00 in a research report on Friday, February 7th. Morgan Stanley lowered their target price on Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Friday, November 15th. Piper Sandler lowered their target price on Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating on the stock in a research report on Friday, November 22nd. Finally, Wolfe Research cut Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. Two 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $5.39.

Sunnova Energy International Trading Down 19.1 %

NYSE:NOVA opened at $0.55 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26. The business’s 50 day moving average is $2.70 and its two-hundred day moving average is $5.49. Sunnova Energy International has a 52 week low of $0.47 and a 52 week high of $13.00. The company has a market cap of $68.22 million, a PE ratio of -0.16 and a beta of 2.64.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings results on Monday, March 3rd. The company reported ($2.96) earnings per share (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 the consensus estimate 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 last year, the business posted $0.37 EPS. On average, analysts predict that Sunnova Energy International will post -2.63 EPS for the current year.

Institutional Trading of Sunnova Energy International

Hedge funds and other institutional investors have recently modified their holdings of the business. DRW Securities LLC acquired a new stake in shares of Sunnova Energy International in the third quarter worth $989,000. Erste Asset Management GmbH acquired a new stake in Sunnova Energy International during the third quarter valued at $76,550,000. Stratos Wealth Partners LTD. acquired a new stake in Sunnova Energy International during the fourth quarter valued at $114,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in Sunnova Energy International by 190.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 744,686 shares of the company’s stock valued at $7,253,000 after purchasing an additional 488,623 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Sunnova Energy International by 17.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 901,433 shares of the company’s stock valued at $8,780,000 after purchasing an additional 134,065 shares during the last quarter.

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.