BMO Capital Markets Cuts Sunnova Energy International (NYSE:NOVA) Price Target to $0.85

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

A number of other brokerages have also weighed in on NOVA. The Goldman Sachs Group lowered 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 report on Tuesday. Wolfe Research downgraded Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. Royal Bank of Canada decreased their target price on shares of Sunnova Energy International from $5.00 to $0.75 and set a “sector perform” rating on the stock in a research note on Tuesday. Guggenheim cut shares of Sunnova Energy International from a “buy” rating to a “neutral” rating in a research report on Thursday, November 7th. Finally, Capital One Financial lowered Sunnova Energy International from an “overweight” rating to an “equal weight” 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 assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $7.07.

Sunnova Energy International Price Performance

Shares of Sunnova Energy International stock traded up $0.01 during trading on Tuesday, hitting $0.61. The stock had a trading volume of 33,440,607 shares, compared to its average volume of 12,964,629. The firm has a market cap of $75.97 million, a price-to-earnings ratio of -0.18 and a beta of 2.28. Sunnova Energy International has a 12 month low of $0.47 and a 12 month high of $13.00. The business’s 50-day moving average is $2.82 and its 200 day moving average is $5.58. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings data on Monday, March 3rd. The company reported ($2.96) earnings per share for the quarter, missing the consensus estimate of ($0.79) by ($2.17). Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The company had revenue of $224.13 million during the quarter, compared to the consensus estimate of $235.85 million. During the same quarter last year, the company posted $0.37 earnings per share. As a group, sell-side analysts anticipate that Sunnova Energy International will post -2.63 earnings per share for the current year.

Hedge Funds Weigh In On Sunnova Energy International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Trust Direct Indexing L.P. grew its holdings in shares of Sunnova Energy International by 11.6% during the third quarter. First Trust Direct Indexing L.P. now owns 19,373 shares of the company’s stock worth $189,000 after buying an additional 2,016 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Sunnova Energy International by 37,400.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,000 shares of the company’s stock valued at $308,000 after acquiring an additional 2,992 shares in the last quarter. Peapack Gladstone Financial Corp grew its holdings in Sunnova Energy International by 11.0% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 32,200 shares of the company’s stock valued at $314,000 after buying an additional 3,200 shares during the last quarter. PFG Investments LLC increased its position in Sunnova Energy International by 37.0% during the 4th quarter. PFG Investments LLC now owns 18,345 shares of the company’s stock worth $63,000 after purchasing an additional 4,955 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its holdings in Sunnova Energy International by 38.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 20,490 shares of the company’s stock valued at $70,000 after acquiring an additional 5,662 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.