Sunnova Energy International (NYSE:NOVA) Rating Increased to Strong-Buy at Guggenheim

Sunnova Energy International (NYSE:NOVA) was upgraded by equities researchers at Guggenheim from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other research analysts have also commented on NOVA. Susquehanna lowered Sunnova Energy International from a “positive” rating to a “neutral” rating and decreased their target price for the stock from $14.00 to $4.50 in a research report on Friday, January 10th. Capital One Financial lowered Sunnova Energy International from an “overweight” rating to an “equal weight” rating in a research report on Monday. JPMorgan Chase & Co. lowered Sunnova Energy International from an “overweight” rating to a “neutral” rating in a research report on Monday. TD Cowen assumed coverage on Sunnova Energy International in a research report on Thursday, December 19th. They set a “hold” rating and a $5.00 price objective for the company. Finally, The Goldman Sachs Group lowered Sunnova Energy International from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $10.00 to $1.00 in a research report on Tuesday. Two analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.39.

Sunnova Energy International Price Performance

Shares of NYSE NOVA opened at $0.52 on Wednesday. Sunnova Energy International has a fifty-two week low of $0.47 and a fifty-two week high of $13.00. The business has a 50 day moving average price of $2.63 and a two-hundred day moving average price of $5.45. 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 firm has a market cap of $64.85 million, a PE ratio of -0.15 and a beta of 2.64.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($2.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.79) by ($2.17). The business had revenue of $224.13 million for the quarter, compared to analyst estimates of $235.85 million. Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. During the same quarter last year, the business earned $0.37 EPS. Sell-side analysts expect that Sunnova Energy International will post -2.63 earnings per share for the current fiscal year.

Institutional Trading of Sunnova Energy International

A number of hedge funds and other institutional investors have recently modified their holdings of NOVA. DRW Securities LLC acquired a new stake in shares of Sunnova Energy International during the third quarter worth $989,000. Erste Asset Management GmbH acquired a new stake in shares of Sunnova Energy International during the third quarter worth $76,550,000. Stratos Wealth Partners LTD. acquired a new stake in shares of Sunnova Energy International during the fourth quarter worth $114,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Sunnova Energy International by 190.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 744,686 shares of the company’s stock worth $7,253,000 after purchasing an additional 488,623 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Sunnova Energy International by 17.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 901,433 shares of the company’s stock worth $8,780,000 after purchasing an additional 134,065 shares during the period.

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.