Sunnova Energy International Inc. (NYSE:NOVA) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Sunnova Energy International Inc. (NYSE:NOVA) have earned an average recommendation of “Hold” from the twenty-nine analysts that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $5.39.

NOVA has been the topic of several research reports. The Goldman Sachs Group downgraded shares of Sunnova Energy International from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $10.00 to $1.00 in a research report on Tuesday, March 4th. Truist Financial cut Sunnova Energy International from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Royal Bank of Canada decreased their price objective on Sunnova Energy International from $5.00 to $0.75 and set a “sector perform” rating for the company in a research report on Tuesday, March 4th. Barclays lowered Sunnova Energy International from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $9.00 to $1.00 in a report on Wednesday, March 5th. Finally, Susquehanna downgraded Sunnova Energy International from a “positive” rating to a “neutral” rating and decreased their price target for the stock from $14.00 to $4.50 in a report on Friday, January 10th.

Sunnova Energy International Price Performance

Shares of NYSE:NOVA opened at $0.37 on Thursday. The company’s fifty day moving average price is $1.53 and its 200 day moving average price is $4.15. The firm has a market capitalization of $46.28 million, a P/E ratio of -0.11 and a beta of 2.64. Sunnova Energy International has a 12 month low of $0.25 and a 12 month high of $13.00. 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 (NYSE:NOVA) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($2.96) earnings per share 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 analysts’ expectations of $235.85 million. Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. During the same quarter in the prior year, the firm posted $0.37 EPS. As a group, sell-side analysts predict that Sunnova Energy International will post -2.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NOVA. Sylebra Capital LLC raised its holdings in shares of Sunnova Energy International by 125.6% in the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock worth $121,195,000 after acquiring an additional 6,926,399 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in Sunnova Energy International during the 3rd quarter worth about $76,550,000. Invesco Ltd. raised its stake in Sunnova Energy International by 55.2% in the 4th quarter. Invesco Ltd. now owns 6,082,399 shares of the company’s stock valued at $20,863,000 after purchasing an additional 2,162,379 shares during the last quarter. Amundi lifted its holdings in Sunnova Energy International by 11.2% in the 4th quarter. Amundi now owns 4,385,286 shares of the company’s stock valued at $14,988,000 after purchasing an additional 441,232 shares in the last quarter. Finally, Electron Capital Partners LLC boosted its stake in shares of Sunnova Energy International by 1.0% during the 4th quarter. Electron Capital Partners LLC now owns 3,447,218 shares of the company’s stock worth $11,824,000 after purchasing an additional 35,233 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.