Sunnova Energy International (NYSE:NOVA) Lowered to “Hold” Rating by Roth Capital

Sunnova Energy International (NYSE:NOVA) was downgraded by equities researchers at Roth Capital from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research firms have also recently weighed in on NOVA. Capital One Financial cut Sunnova Energy International from an “overweight” rating to an “equal weight” rating in a report on Monday. BMO Capital Markets lowered their target price on shares of Sunnova Energy International from $4.00 to $0.85 and set a “market perform” rating for the company in a research note on Tuesday. Baird R W cut shares of Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research report on Monday. Wells Fargo & Company lowered shares of Sunnova Energy International from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $4.00 to $0.50 in a report on Tuesday. Finally, The Goldman Sachs Group cut Sunnova Energy International from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $10.00 to $1.00 in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.59.

Sunnova Energy International Trading Up 13.1 %

Shares of NOVA stock opened at $0.67 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26. The stock has a market cap of $83.84 million, a price-to-earnings ratio of -0.20 and a beta of 2.28. The company’s 50-day moving average price is $2.76 and its 200-day moving average price is $5.52. Sunnova Energy International has a twelve month low of $0.47 and a twelve month high of $13.00.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings data on Monday, March 3rd. The company reported ($2.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($2.17). The business had revenue of $224.13 million during the quarter, compared to analyst estimates 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 company posted $0.37 earnings per share. As a group, equities analysts predict that Sunnova Energy International will post -2.63 earnings per share for the current year.

Institutional Investors Weigh In On Sunnova Energy International

Institutional investors have recently added to or reduced their stakes in the business. DRW Securities LLC purchased a new position in shares of Sunnova Energy International during the 3rd quarter worth approximately $989,000. Erste Asset Management GmbH purchased a new position in Sunnova Energy International in the third quarter worth $76,550,000. Stratos Wealth Partners LTD. acquired a new stake in Sunnova Energy International in the fourth quarter valued at $114,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Sunnova Energy International by 190.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 744,686 shares of the company’s stock worth $7,253,000 after purchasing an additional 488,623 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Sunnova Energy International by 17.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 901,433 shares of the company’s stock valued at $8,780,000 after purchasing an additional 134,065 shares in the last quarter.

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.