Sunnova Energy International (NYSE:NOVA) Price Target Cut to $0.50 by Analysts at The Goldman Sachs Group

Sunnova Energy International (NYSE:NOVA) had its price target reduced by investment analysts at The Goldman Sachs Group from $1.00 to $0.50 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 43.31% from the company’s previous close.

NOVA has been the topic of several other research reports. Royal Bank of Canada reduced their target price on shares of Sunnova Energy International from $5.00 to $0.75 and set a “sector perform” rating on the stock in a research note on Tuesday, March 4th. Citigroup downgraded shares of Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 13th. Robert W. Baird restated a “neutral” rating and set a $2.00 target price (down previously from $9.00) on shares of Sunnova Energy International in a research report on Monday, March 3rd. Piper Sandler reduced their price target on Sunnova Energy International from $4.50 to $1.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Finally, Wells Fargo & Company cut Sunnova Energy International from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $4.00 to $0.50 in a report on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $5.37.

Sunnova Energy International Trading Up 5.8 %

NOVA traded up $0.02 on Wednesday, hitting $0.35. The company had a trading volume of 14,263,790 shares, compared to its average volume of 10,930,870. Sunnova Energy International has a 12-month low of $0.25 and a 12-month high of $13.00. 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 fifty day simple moving average is $1.48 and its 200 day simple moving average is $4.07. The company has a market cap of $43.64 million, a PE ratio of -0.10 and a beta of 2.64.

Sunnova Energy International (NYSE:NOVA) last announced its earnings results on Monday, March 3rd. The company reported ($2.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($2.17). Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The company had revenue of $224.13 million during the quarter, compared to analysts’ expectations of $235.85 million. During the same quarter last year, the firm posted $0.37 EPS. Equities research analysts expect that Sunnova Energy International will post -2.63 EPS for the current year.

Institutional Investors Weigh In On Sunnova Energy International

Institutional investors have recently added to or reduced their stakes in the stock. Cibc World Markets Corp bought a new position in Sunnova Energy International in the fourth quarter worth about $35,000. Crux Wealth Advisors purchased a new position in shares of Sunnova Energy International in the 4th quarter worth approximately $35,000. Two Sigma Advisers LP bought a new position in shares of Sunnova Energy International during the 4th quarter worth approximately $35,000. Integrated Wealth Concepts LLC purchased a new stake in Sunnova Energy International during the fourth quarter valued at approximately $40,000. Finally, Teza Capital Management LLC acquired a new stake in Sunnova Energy International in the fourth quarter valued at approximately $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.