BMO Capital Markets Has Lowered Expectations for Sunnova Energy International (NYSE:NOVA) Stock Price

Sunnova Energy International (NYSE:NOVA) had its target price lowered by stock analysts at BMO Capital Markets from $4.00 to $0.85 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ price target points to a potential upside of 39.80% from the company’s current price.

A number of other research firms also recently weighed in on NOVA. Piper Sandler decreased their price objective on Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating for the company in a report on Friday, November 22nd. Susquehanna downgraded shares of Sunnova Energy International from a “positive” rating to a “neutral” rating and lowered their target price for the stock from $14.00 to $4.50 in a research note on Friday, January 10th. The Goldman Sachs Group downgraded Sunnova Energy International from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $10.00 to $1.00 in a research note on Tuesday. Morgan Stanley cut their price target on Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating on the stock in a report on Friday, November 15th. Finally, JPMorgan Chase & Co. downgraded shares of Sunnova Energy International from an “overweight” rating to a “neutral” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.07.

Sunnova Energy International Price Performance

Shares of NOVA stock traded up $0.01 on Tuesday, hitting $0.61. 33,440,607 shares of the company’s stock were exchanged, compared to its average volume of 12,964,629. The company has a 50 day moving average of $2.82 and a 200 day moving average of $5.58. The stock has a market cap of $75.97 million, a P/E ratio of -0.18 and a beta of 2.28. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86. 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 issued 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). The firm had revenue of $224.13 million during the quarter, compared to analyst estimates 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 period in the previous year, the company earned $0.37 EPS. On average, equities research analysts predict that Sunnova Energy International will post -2.63 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Cibc World Markets Corp purchased a new stake in shares of Sunnova Energy International during the 4th quarter valued at approximately $35,000. Crux Wealth Advisors bought a new stake in Sunnova Energy International during the 4th quarter valued at $35,000. Two Sigma Advisers LP purchased a new stake in shares of Sunnova Energy International during the fourth quarter worth $35,000. Integrated Wealth Concepts LLC bought a new position in shares of Sunnova Energy International in the fourth quarter worth $40,000. Finally, Teza Capital Management LLC purchased a new position in shares of Sunnova Energy International in the fourth quarter valued at $48,000.

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.