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

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

Sunnova Energy International Trading Down 18.3 %

Shares of NYSE NOVA traded down $0.11 during trading on Tuesday, reaching $0.49. The company had a trading volume of 6,605,130 shares, compared to its average volume of 12,219,880. The stock has a market cap of $60.60 million, a P/E ratio of -0.14 and a beta of 2.28. The company’s fifty day moving average price is $2.82 and its 200-day moving average price is $5.58. 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.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NOVA shares. Piper Sandler cut their price target on shares of Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating for the company in a report on Friday, November 22nd. Capital One Financial cut Sunnova Energy International from an “overweight” rating to an “equal weight” rating in a research note on Monday. Wells Fargo & Company lowered Sunnova Energy International from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $4.00 to $0.50 in a research note on Tuesday. Robert W. Baird reissued a “neutral” rating and set a $2.00 price target (down previously from $9.00) on shares of Sunnova Energy International in a report on Monday. 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 note on Tuesday. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently 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.