Sunnova Energy International (NYSE:NOVA) Downgraded to “Equal Weight” Rating by Barclays

Barclays lowered shares of Sunnova Energy International (NYSE:NOVA) from an overweight rating to an equal weight rating in a research report report published on Wednesday morning, MarketBeat reports. They currently have $1.00 price objective on the stock, down from their previous price objective of $9.00.

NOVA has been the topic of a number of other reports. Janney Montgomery Scott downgraded Sunnova Energy International from a “buy” rating to a “neutral” rating and set a $1.00 price target on the stock. in a research note on Tuesday. Truist Financial downgraded Sunnova Energy International from a “buy” rating to a “hold” rating in a research note on Monday. Piper Sandler decreased their price target on Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating on the stock in a research note on Friday, November 22nd. Baird R W downgraded Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, Guggenheim downgraded Sunnova Energy International from a “buy” rating to a “neutral” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.39.

Sunnova Energy International Trading Down 19.1 %

NYSE:NOVA opened at $0.55 on Wednesday. The firm has a market cap of $68.22 million, a P/E ratio of -0.16 and a beta of 2.64. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26. The stock’s 50 day simple moving average is $2.70 and its 200-day simple moving average is $5.49. 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 released its earnings results on Monday, March 3rd. The company reported ($2.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($2.17). Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The company had revenue of $224.13 million during the quarter, compared to analyst estimates of $235.85 million. During the same period in the previous year, the firm posted $0.37 EPS. Equities analysts anticipate that Sunnova Energy International will post -2.63 EPS for the current year.

Institutional Trading of Sunnova Energy International

Several institutional investors and hedge funds have recently made changes to their positions in NOVA. DRW Securities LLC acquired a new position in Sunnova Energy International in the third quarter valued at $989,000. Erste Asset Management GmbH acquired a new position in Sunnova Energy International in the third quarter valued at $76,550,000. Stratos Wealth Partners LTD. acquired a new position in Sunnova Energy International in the fourth quarter valued at $114,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Sunnova Energy International by 190.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 744,686 shares of the company’s stock valued at $7,253,000 after purchasing an additional 488,623 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Sunnova Energy International by 17.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 901,433 shares of the company’s stock valued at $8,780,000 after purchasing an additional 134,065 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.