Sunnova Energy International (NYSE:NOVA) Rating Lowered to Hold at Citigroup

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

Other research analysts also recently issued reports about the company. Janney Montgomery Scott downgraded Sunnova Energy International from a “buy” rating to a “neutral” rating and set a $1.00 price target for the company. in a report on Tuesday, March 4th. Barclays lowered Sunnova Energy International from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $9.00 to $1.00 in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lowered Sunnova Energy International from an “overweight” rating to a “neutral” rating in a research note on Monday, March 3rd. Susquehanna downgraded shares of Sunnova Energy International from a “positive” rating to a “neutral” rating and dropped their price objective for the company from $14.00 to $4.50 in a research note on Friday, January 10th. Finally, Baird R W cut shares of Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $5.39.

Sunnova Energy International Stock Up 4.0 %

NOVA opened at $0.32 on Thursday. The firm has a market cap of $39.40 million, a P/E ratio of -0.09 and a beta of 2.64. The business’s fifty day simple moving average is $2.24 and its 200 day simple moving average is $5.04. Sunnova Energy International has a 52 week low of $0.25 and a 52 week high of $13.00. 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 (NYSE:NOVA) last released its quarterly 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 firm 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 in the prior year, the business earned $0.37 earnings per share. As a group, equities research analysts anticipate that Sunnova Energy International will post -2.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sunbelt Securities Inc. acquired a new position in Sunnova Energy International in the 4th quarter worth $1,211,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Sunnova Energy International by 20.9% in the fourth 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 in the last quarter. Westwood Holdings Group Inc. purchased a new position in Sunnova Energy International in the fourth quarter valued at about $1,308,000. Twinbeech Capital LP acquired a new stake in Sunnova Energy International during the 4th quarter valued at approximately $89,000. Finally, Two Sigma Advisers LP purchased a new stake in 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.