The Goldman Sachs Group Downgrades Sunnova Energy International (NYSE:NOVA) to Neutral

Sunnova Energy International (NYSE:NOVA) was downgraded by The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. They currently have a $1.00 price objective on the stock, down from their previous price objective of $10.00. The Goldman Sachs Group’s price target would indicate a potential upside of 67.11% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Robert W. Baird reissued a “neutral” rating and issued a $2.00 target price (down from $9.00) on shares of Sunnova Energy International in a research note on Monday. BNP Paribas cut shares of Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 price target on the stock. in a research note on Friday, November 8th. Barclays reduced their price objective on shares of Sunnova Energy International from $10.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Capital One Financial downgraded shares of Sunnova Energy International from an “overweight” rating to an “equal weight” rating in a research note on Monday. Finally, Wolfe Research cut shares of Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $7.78.

Sunnova Energy International Stock Performance

Shares of NOVA opened at $0.60 on Tuesday. 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 stock has a market cap of $74.77 million, a P/E ratio of -0.18 and a beta of 2.28. The business’s 50 day moving average price is $2.82 and its 200-day moving average price is $5.58. Sunnova Energy International has a 52 week low of $0.48 and a 52 week high of $13.00.

Institutional Investors Weigh In On Sunnova Energy International

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cibc World Markets Corp bought a new position in shares of Sunnova Energy International in the fourth quarter worth about $35,000. Crux Wealth Advisors purchased a new stake in Sunnova Energy International in the 4th quarter worth approximately $35,000. Two Sigma Advisers LP bought a new stake in Sunnova Energy International during the 4th quarter worth approximately $35,000. Integrated Wealth Concepts LLC purchased a new position in Sunnova Energy International during the fourth quarter valued at approximately $40,000. Finally, Teza Capital Management LLC purchased a new position in Sunnova Energy International during 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.