Sunnova Energy International (NYSE:NOVA) Cut to Neutral at UBS Group

Sunnova Energy International (NYSE:NOVA) was downgraded by analysts at UBS Group from a “buy” rating to a “neutral” rating in a research note issued to investors on Tuesday, Marketbeat.com reports. They presently have a $0.65 target price on the stock, down from their prior target price of $5.00. UBS Group’s target price suggests a potential upside of 8.62% from the stock’s current price.

NOVA has been the topic of a number of other research reports. JPMorgan Chase & Co. lowered shares of Sunnova Energy International from an “overweight” rating to a “neutral” rating in a report on Monday. Piper Sandler decreased their price target on shares of 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. Truist Financial lowered shares of Sunnova Energy International from a “buy” rating to a “hold” rating in a report on Monday. Wolfe Research downgraded Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. Finally, Guggenheim lowered Sunnova Energy International from a “buy” rating to a “neutral” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $7.78.

Sunnova Energy International Trading Down 64.0 %

Shares of NOVA opened at $0.60 on Tuesday. The stock has a fifty day moving average price of $2.82 and a two-hundred day moving average price of $5.58. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $74.77 million, a price-to-earnings ratio of -0.18 and a beta of 2.28. Sunnova Energy International has a 52-week low of $0.48 and a 52-week high of $13.00.

Hedge Funds Weigh In On Sunnova Energy International

Several institutional investors and hedge funds have recently made changes to their positions in NOVA. Sunbelt Securities Inc. acquired a new stake in Sunnova Energy International during the 4th quarter worth $1,211,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings 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. acquired a new stake in shares of Sunnova Energy International during the fourth quarter worth about $1,308,000. Twinbeech Capital LP bought a new position in shares of Sunnova Energy International during the 4th quarter valued at about $89,000. Finally, Two Sigma Advisers LP acquired a new position in shares of Sunnova Energy International in the 4th quarter valued at approximately $35,000.

About Sunnova Energy International

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.