Sunnova Energy International (NYSE:NOVA) Lowered to Hold Rating by Citigroup

Citigroup lowered shares of Sunnova Energy International (NYSE:NOVA) from a strong-buy rating to a hold rating in a report released on Thursday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Guggenheim upgraded shares of Sunnova Energy International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Truist Financial downgraded shares of Sunnova Energy International from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Roth Mkm downgraded shares of Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Monday, March 3rd. Janney Montgomery Scott downgraded shares of Sunnova Energy International from a “buy” rating to a “neutral” rating and set a $1.00 price objective on the stock. in a report on Tuesday, March 4th. Finally, Wells Fargo & Company downgraded shares of Sunnova Energy International from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $4.00 to $0.50 in a report on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.39.

Sunnova Energy International Stock Performance

Shares of Sunnova Energy International stock opened at $0.32 on Thursday. The company has a market capitalization of $39.40 million, a PE ratio of -0.09 and a beta of 2.64. 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 50-day simple moving average of $2.24 and a two-hundred day simple moving average of $5.04. Sunnova Energy International has a one year low of $0.25 and a one year high of $13.00.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Sunbelt Securities Inc. purchased a new position in shares of Sunnova Energy International during the 4th quarter valued at approximately $1,211,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Sunnova Energy International by 20.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 446,138 shares of the company’s stock valued at $1,530,000 after buying an additional 77,075 shares in the last quarter. Westwood Holdings Group Inc. purchased a new position in shares of Sunnova Energy International during the 4th quarter valued at approximately $1,308,000. Twinbeech Capital LP purchased a new position in shares of Sunnova Energy International during the 4th quarter valued at approximately $89,000. Finally, Two Sigma Advisers LP purchased a new position in shares of Sunnova Energy International during 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.