Sunnova Energy International (NYSE:NOVA) Cut to “Hold” at Baird R W

Sunnova Energy International (NYSE:NOVA) was downgraded by stock analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

NOVA has been the subject of several other reports. Janney Montgomery Scott cut Sunnova Energy International from a “buy” rating to a “neutral” rating and set a $1.00 price objective for the company. in a research report on Tuesday. Capital One Financial cut shares of Sunnova Energy International from an “overweight” rating to an “equal weight” rating in a research note on Monday. BNP Paribas lowered shares of Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 price target on the stock. in a research report on Friday, November 8th. Piper Sandler dropped their price objective on shares of Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating on the stock in a report on Friday, November 22nd. Finally, Truist Financial lowered Sunnova Energy International from a “buy” rating to a “hold” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.59.

Sunnova Energy International Stock Performance

Shares of NOVA opened at $0.67 on Monday. The firm has a market cap of $83.84 million, a price-to-earnings ratio of -0.20 and a beta of 2.28. The company’s fifty day moving average is $2.76 and its 200-day moving average is $5.52. 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.

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

Hedge Funds Weigh In On Sunnova Energy International

Large investors have recently bought and sold shares of the business. Erste Asset Management GmbH bought a new stake in shares of Sunnova Energy International in the 3rd quarter valued at about $76,550,000. Sylebra Capital LLC increased its stake in Sunnova Energy International by 125.6% in the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock valued at $121,195,000 after purchasing an additional 6,926,399 shares in the last quarter. CenterBook Partners LP acquired a new stake in Sunnova Energy International in the fourth quarter worth $8,565,000. Invesco Ltd. boosted its position in shares of Sunnova Energy International by 55.2% during the fourth quarter. Invesco Ltd. now owns 6,082,399 shares of the company’s stock worth $20,863,000 after buying an additional 2,162,379 shares during the period. Finally, Capital Fund Management S.A. raised its position in Sunnova Energy International by 456.4% in the 4th quarter. Capital Fund Management S.A. now owns 1,737,569 shares of the company’s stock valued at $5,960,000 after buying an additional 1,425,281 shares during the last quarter.

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.