Sunnova Energy International (NYSE:NOVA) Downgraded to Neutral Rating by Mizuho

Mizuho lowered shares of Sunnova Energy International (NYSE:NOVA) from an outperform rating to a neutral rating in a research report sent to investors on Wednesday, MarketBeat reports. They currently have $1.00 price target on the stock, down from their prior price target of $11.00.

A number of other brokerages also recently weighed in on NOVA. UBS Group downgraded Sunnova Energy International from a “buy” rating to a “neutral” rating and lowered their price target for the company from $5.00 to $0.65 in a report on Tuesday. Wells Fargo & Company downgraded Sunnova Energy International from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $4.00 to $0.50 in a report on Tuesday. Janney Montgomery Scott downgraded Sunnova Energy International from a “buy” rating to a “neutral” rating and set a $1.00 price target on the stock. in a report on Tuesday. Susquehanna downgraded Sunnova Energy International from a “positive” rating to a “neutral” rating and lowered their price target for the company from $14.00 to $4.50 in a report on Friday, January 10th. Finally, Truist Financial downgraded Sunnova Energy International from a “buy” rating to a “hold” rating in a report on Monday. Two 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.39.

Sunnova Energy International Stock Down 19.1 %

Shares of Sunnova Energy International stock opened at $0.55 on Wednesday. The stock’s fifty day moving average is $2.70 and its 200-day moving average is $5.49. The firm has a market capitalization of $68.22 million, a PE ratio of -0.16 and a beta of 2.64. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26. Sunnova Energy International has a 12-month low of $0.47 and a 12-month high of $13.00.

Sunnova Energy International (NYSE:NOVA) last announced its earnings results on Monday, March 3rd. The company reported ($2.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($2.17). The company had revenue of $224.13 million for the quarter, compared to analyst estimates 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 firm earned $0.37 earnings per share. Equities analysts anticipate that Sunnova Energy International will post -2.63 earnings per share for the current year.

Institutional Trading of Sunnova Energy International

A number of institutional investors and hedge funds have recently made changes to their positions in NOVA. Erste Asset Management GmbH acquired a new stake in shares of Sunnova Energy International in the third quarter worth about $76,550,000. Sylebra Capital LLC lifted its position in shares of Sunnova Energy International by 125.6% during the 3rd quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock worth $121,195,000 after purchasing an additional 6,926,399 shares during the last quarter. CenterBook Partners LP acquired a new position in shares of Sunnova Energy International during the 4th quarter worth about $8,565,000. Invesco Ltd. lifted its position in shares of Sunnova Energy International by 55.2% during the 4th quarter. Invesco Ltd. now owns 6,082,399 shares of the company’s stock worth $20,863,000 after purchasing an additional 2,162,379 shares during the last quarter. Finally, Capital Fund Management S.A. lifted its position in shares of Sunnova Energy International by 456.4% during the 4th quarter. Capital Fund Management S.A. now owns 1,737,569 shares of the company’s stock worth $5,960,000 after purchasing an additional 1,425,281 shares during the last quarter.

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.