Sunnova Energy International (NYSE:NOVA) Rating Lowered to Sector Perform at Royal Bank of Canada

Royal Bank of Canada cut shares of Sunnova Energy International (NYSE:NOVA) from an outperform rating to a sector perform rating in a report published on Monday morning, MarketBeat Ratings reports.

Other equities analysts have also issued reports about the stock. BMO Capital Markets restated a “market perform” rating and issued a $8.00 price objective (down from $10.00) on shares of Sunnova Energy International in a research report on Friday, November 1st. Guggenheim downgraded shares of Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Citigroup decreased their price target on shares of Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. BNP Paribas downgraded Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 price objective on the stock. in a research report on Friday, November 8th. Finally, Jefferies Financial Group assumed coverage on Sunnova Energy International in a research report on Thursday, October 10th. They set a “buy” rating and a $15.00 target price for the company. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Sunnova Energy International has an average rating of “Hold” and a consensus price target of $10.73.

Sunnova Energy International Stock Down 0.7 %

NOVA opened at $4.26 on Monday. Sunnova Energy International has a 12 month low of $2.99 and a 12 month high of $16.35. The company has a market cap of $532.30 million, a PE ratio of -1.29 and a beta of 2.22. 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 company has a 50 day moving average of $5.28 and a 200 day moving average of $6.97.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.45). Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The company had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $238.23 million. During the same quarter last year, the firm posted ($0.53) earnings per share. Sunnova Energy International’s revenue for the quarter was up 18.6% compared to the same quarter last year. On average, sell-side analysts expect that Sunnova Energy International will post -2.44 EPS for the current year.

Insider Activity at Sunnova Energy International

In related news, CFO Eric Michael Williams acquired 13,800 shares of the stock in a transaction on Monday, November 18th. The stock was acquired at an average cost of $3.60 per share, for a total transaction of $49,680.00. Following the completion of the acquisition, the chief financial officer now directly owns 13,800 shares of the company’s stock, valued at approximately $49,680. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Akbar Mohamed bought 54,717 shares of Sunnova Energy International stock in a transaction on Friday, November 15th. The shares were purchased at an average price of $3.80 per share, for a total transaction of $207,924.60. Following the acquisition, the director now directly owns 302,654 shares in the company, valued at approximately $1,150,085.20. This trade represents a 22.07 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 118,517 shares of company stock worth $439,605 in the last 90 days. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Sunnova Energy International

Hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC grew its holdings in Sunnova Energy International by 37,400.0% in the third quarter. International Assets Investment Management LLC now owns 3,000 shares of the company’s stock worth $308,000 after purchasing an additional 2,992 shares during the period. GAMMA Investing LLC grew its stake in shares of Sunnova Energy International by 736.3% in the 3rd quarter. GAMMA Investing LLC now owns 8,756 shares of the company’s stock worth $85,000 after buying an additional 7,709 shares during the last quarter. Creative Planning bought a new position in Sunnova Energy International during the 3rd quarter valued at approximately $107,000. Presidio Capital Management LLC purchased a new position in Sunnova Energy International during the second quarter valued at $67,000. Finally, nVerses Capital LLC boosted its holdings in Sunnova Energy International by 237.8% in the second quarter. nVerses Capital LLC now owns 12,500 shares of the company’s stock worth $70,000 after acquiring an additional 8,800 shares in 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.