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

Sunnova Energy International (NYSE:NOVA) had its price objective cut by Piper Sandler from $4.50 to $1.00 in a report published on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts also recently commented on the company. Roth Mkm lowered Sunnova Energy International from a “buy” rating to a “neutral” rating in a research report on Monday. Barclays lowered Sunnova Energy International from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $9.00 to $1.00 in a research note on Wednesday. Capital One Financial lowered Sunnova Energy International from an “overweight” rating to an “equal weight” rating in a research note on Monday. Roth Capital downgraded shares of Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research report on Monday. Finally, Mizuho lowered shares of Sunnova Energy International from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $11.00 to $1.00 in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, twenty-three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $5.39.

Sunnova Energy International Stock Down 19.1 %

Shares of NYSE NOVA opened at $0.55 on Wednesday. Sunnova Energy International has a 52-week low of $0.47 and a 52-week high of $13.00. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86. The business has a fifty day moving average of $2.70 and a two-hundred day moving average of $5.49. The stock 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 firm had revenue of $224.13 million for 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 period in the prior year, the business earned $0.37 earnings per share. As a group, equities research analysts expect that Sunnova Energy International will post -2.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sunnova Energy International

Several large investors have recently bought and sold shares of the company. First Trust Direct Indexing L.P. grew its holdings in shares of Sunnova Energy International by 11.6% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 19,373 shares of the company’s stock valued at $189,000 after buying an additional 2,016 shares during the period. International Assets Investment Management LLC lifted its holdings in 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 acquiring an additional 2,992 shares in the last quarter. Peapack Gladstone Financial Corp grew its stake in 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 acquiring an additional 3,200 shares during the period. 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 worth $63,000 after acquiring an additional 4,955 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its position in shares of Sunnova Energy International by 38.2% during the fourth 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.

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.