Sunnova Energy International (NYSE:NOVA) Shares Down 3%

Sunnova Energy International Inc. (NYSE:NOVA)’s stock price traded down 3% on Monday . The company traded as low as $5.36 and last traded at $5.41. 623,671 shares changed hands during trading, a decline of 93% from the average session volume of 8,519,095 shares. The stock had previously closed at $5.58.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Susquehanna decreased their price target on shares of Sunnova Energy International from $20.00 to $12.00 and set a “positive” rating for the company in a research note on Friday, April 5th. BMO Capital Markets reduced their target price on shares of Sunnova Energy International from $10.00 to $6.00 and set a “market perform” rating for the company in a research note on Friday, May 3rd. The Goldman Sachs Group reduced their target price on shares of Sunnova Energy International from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, April 11th. Truist Financial reduced their target price on shares of Sunnova Energy International from $16.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. Finally, Robert W. Baird reduced their target price on shares of Sunnova Energy International from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Eight research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Sunnova Energy International currently has an average rating of “Moderate Buy” and an average price target of $15.73.

Sunnova Energy International Stock Down 2.7 %

The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 3.41. The company’s fifty day simple moving average is $4.80 and its two-hundred day simple moving average is $7.62.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.57) EPS for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.22. The business had revenue of $160.90 million during the quarter, compared to the consensus estimate of $193.78 million. Sunnova Energy International had a negative net margin of 56.52% and a negative return on equity of 12.10%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.70) earnings per share. On average, research analysts forecast that Sunnova Energy International Inc. will post -1.85 EPS for the current year.

Institutional Investors Weigh In On Sunnova Energy International

Several hedge funds have recently modified their holdings of NOVA. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Sunnova Energy International by 2.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 45,491 shares of the company’s stock valued at $663,000 after buying an additional 1,094 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in Sunnova Energy International by 8.0% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 20,898 shares of the company’s stock valued at $325,000 after buying an additional 1,554 shares in the last quarter. Manchester Capital Management LLC lifted its position in Sunnova Energy International by 2,959.7% during the fourth quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock valued at $29,000 after buying an additional 1,835 shares in the last quarter. Victory Capital Management Inc. lifted its position in Sunnova Energy International by 23.2% during the fourth quarter. Victory Capital Management Inc. now owns 14,310 shares of the company’s stock valued at $218,000 after buying an additional 2,694 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in Sunnova Energy International by 12.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 25,767 shares of the company’s stock valued at $393,000 after buying an additional 2,909 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.