Sunnova Energy International (NYSE:NOVA) Downgraded to Underperform Rating by BNP Paribas

BNP Paribas lowered shares of Sunnova Energy International (NYSE:NOVA) from a neutral rating to an underperform rating in a report released on Friday morning, MarketBeat.com reports. They currently have $3.50 target price on the stock.

Several other equities analysts have also weighed in on NOVA. The Goldman Sachs Group increased their target price on Sunnova Energy International from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Citigroup lowered their target price on Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Robert W. Baird lowered their price target on Sunnova Energy International from $18.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Wells Fargo & Company boosted their price objective on Sunnova Energy International from $6.00 to $9.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 6th. Finally, Guggenheim downgraded Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $11.23.

Sunnova Energy International Trading Down 14.0 %

Shares of NYSE NOVA opened at $3.14 on Friday. Sunnova Energy International has a 1-year low of $2.99 and a 1-year high of $16.35. The company has a 50-day moving average of $8.07 and a two-hundred day moving average of $6.94. The company has a market cap of $392.34 million, a PE ratio of -0.94 and a beta of 2.26. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.45). The firm had revenue of $235.30 million for the quarter, compared to analyst estimates of $238.23 million. Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The company’s revenue was up 18.6% compared to the same quarter last year. During the same period last year, the company earned ($0.53) EPS. As a group, equities analysts expect that Sunnova Energy International will post -2.24 earnings per share for the current fiscal year.

Insider Activity at Sunnova Energy International

In other news, insider William J. Berger sold 77,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $11.31, for a total value of $870,870.00. Following the completion of the sale, the insider now owns 409,045 shares in the company, valued at $4,626,298.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Sunnova Energy International

A number of hedge funds and other institutional investors have recently bought and sold shares of NOVA. Intech Investment Management LLC bought a new stake in shares of Sunnova Energy International during the third quarter valued at about $370,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Sunnova Energy International by 190.8% in the 3rd 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 in the last quarter. Quest Partners LLC boosted its holdings in Sunnova Energy International by 101,695.5% in the 3rd quarter. Quest Partners LLC now owns 67,185 shares of the company’s stock valued at $654,000 after purchasing an additional 67,119 shares during the period. Mizuho Markets Americas LLC boosted its holdings in Sunnova Energy International by 53.7% in the 3rd quarter. Mizuho Markets Americas LLC now owns 282,805 shares of the company’s stock valued at $2,755,000 after purchasing an additional 98,800 shares during the period. Finally, GSA Capital Partners LLP grew its position in shares of Sunnova Energy International by 28.4% during the 3rd quarter. GSA Capital Partners LLP now owns 130,741 shares of the company’s stock valued at $1,273,000 after purchasing an additional 28,931 shares in 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.