Sunnova Energy International (NYSE:NOVA) Announces Quarterly Earnings Results, Misses Estimates By $2.17 EPS

Sunnova Energy International (NYSE:NOVA) announced its quarterly earnings results on Monday. The company reported ($2.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.79) by ($2.17), RTT News reports. Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The business had revenue of $224.13 million for the quarter, compared to analyst estimates of $235.85 million. During the same period last year, the firm earned $0.37 earnings per share.

Sunnova Energy International Trading Down 14.6 %

NYSE NOVA opened at $0.51 on Tuesday. The firm has a market capitalization of $63.35 million, a PE ratio of -0.15 and a beta of 2.28. Sunnova Energy International has a one year low of $0.48 and a one year high of $13.00. The company has a 50-day simple moving average of $2.82 and a 200-day simple moving average of $5.58. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86.

Analysts Set New Price Targets

Several research firms recently weighed in on NOVA. Roth Mkm lowered shares of Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Monday. Piper Sandler reduced their price objective on Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating on the stock in a research note on Friday, November 22nd. TD Cowen initiated coverage on Sunnova Energy International in a research report on Thursday, December 19th. They issued a “hold” rating and a $5.00 target price for the company. The Goldman Sachs Group downgraded Sunnova Energy International from a “buy” rating to a “neutral” rating and dropped their target price for the company from $10.00 to $1.00 in a report on Tuesday. Finally, Morgan Stanley decreased their price target on Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating for the company in a report on Friday, November 15th. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $7.78.

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.