Sunnova Energy International (NYSE:NOVA) Downgraded by Janney Montgomery Scott to “Neutral”

Janney Montgomery Scott lowered shares of Sunnova Energy International (NYSE:NOVA) from a buy rating to a neutral rating in a research report report published on Tuesday morning, Marketbeat Ratings reports. They currently have $1.00 price target on the stock.

Several other equities analysts have also recently weighed in on the company. The Goldman Sachs Group cut Sunnova Energy International from a “buy” rating to a “neutral” rating and cut their price objective for the company from $10.00 to $1.00 in a report on Tuesday. BNP Paribas cut Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 price objective on the stock. in a report on Friday, November 8th. Robert W. Baird reiterated a “neutral” rating and set a $2.00 price objective (down previously from $9.00) on shares of Sunnova Energy International in a report on Monday. Wells Fargo & Company cut Sunnova Energy International from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $4.00 to $0.50 in a report on Tuesday. Finally, TD Cowen initiated coverage on Sunnova Energy International in a report on Thursday, December 19th. They set a “hold” rating and a $5.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.39.

Sunnova Energy International Price Performance

Sunnova Energy International stock opened at $0.52 on Tuesday. The firm has a market capitalization of $64.85 million, a P/E ratio of -0.15 and a beta of 2.64. Sunnova Energy International has a 1 year low of $0.47 and a 1 year high of $13.00. The business has a 50-day moving average of $2.63 and a 200-day moving average of $5.45. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26.

Sunnova Energy International (NYSE:NOVA) last posted its 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 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 quarter in the previous year, the firm posted $0.37 earnings per share. On average, equities analysts anticipate that Sunnova Energy International will post -2.63 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Sunbelt Securities Inc. acquired a new position in shares of Sunnova Energy International during the 4th quarter worth approximately $1,211,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Sunnova Energy International by 20.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 446,138 shares of the company’s stock worth $1,530,000 after acquiring an additional 77,075 shares during the last quarter. Westwood Holdings Group Inc. acquired a new position in shares of Sunnova Energy International during the 4th quarter worth approximately $1,308,000. Twinbeech Capital LP acquired a new position in shares of Sunnova Energy International during the 4th quarter worth approximately $89,000. Finally, Two Sigma Advisers LP acquired a new position in shares of Sunnova Energy International during the 4th quarter worth approximately $35,000.

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.