Sunnova Energy International (NYSE:NOVA) Trading Down 4%

Sunnova Energy International Inc. (NYSE:NOVA)’s share price was down 4% on Monday . The company traded as low as $5.75 and last traded at $5.80. Approximately 3,017,090 shares changed hands during trading, a decline of 65% from the average daily volume of 8,556,448 shares. The stock had previously closed at $6.04.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NOVA. Piper Sandler downgraded Sunnova Energy International from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $9.00 to $4.50 in a research report on Tuesday, May 21st. Mizuho dropped their price target on Sunnova Energy International from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. KeyCorp cut Sunnova Energy International from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, April 23rd. Janney Montgomery Scott raised shares of Sunnova Energy International from a “neutral” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Friday, March 22nd. Finally, Morgan Stanley reduced their price target on shares of Sunnova Energy International from $14.00 to $10.00 and set an “equal weight” rating for the company in a report on Friday, June 14th. Eight research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Sunnova Energy International has a consensus rating of “Moderate Buy” and a consensus target price of $15.73.

Sunnova Energy International Stock Performance

The stock has a market capitalization of $730.24 million, a price-to-earnings ratio of -1.68 and a beta of 2.19. The stock’s 50-day simple moving average is $4.68 and its 200 day simple moving average is $7.73. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 3.41.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.57) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.22. The firm had revenue of $160.90 million for the quarter, compared to analysts’ expectations of $193.78 million. Sunnova Energy International had a negative net margin of 56.52% and a negative return on equity of 12.10%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the firm earned ($0.70) earnings per share. Analysts expect that Sunnova Energy International Inc. will post -1.85 earnings per share for the current fiscal year.

Institutional Trading of Sunnova Energy International

Several hedge funds and other institutional investors have recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Sunnova Energy International during the first quarter worth approximately $25,000. Manchester Capital Management LLC lifted its holdings in Sunnova Energy International by 2,959.7% during the 4th quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock valued at $29,000 after purchasing an additional 1,835 shares during the last quarter. Caxton Associates LP acquired a new stake in Sunnova Energy International during the 1st quarter valued at $62,000. First Trust Direct Indexing L.P. bought a new position in Sunnova Energy International during the first quarter worth $66,000. Finally, BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Sunnova Energy International by 129.9% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,788 shares of the company’s stock valued at $72,000 after purchasing an additional 6,661 shares during the last quarter.

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.