Sunnova Energy International (NYSE:NOVA) Cut to Neutral at UBS Group

Sunnova Energy International (NYSE:NOVA) was downgraded by analysts at UBS Group from a “buy” rating to a “neutral” rating in a research note issued on Tuesday, MarketBeat Ratings reports. They presently have a $0.65 price target on the stock, down from their prior price target of $5.00. UBS Group’s price target would suggest a potential upside of 19.05% from the stock’s current price.

Several other analysts also recently commented on the company. Royal Bank of Canada downgraded Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a research note on Monday, December 9th. Jefferies Financial Group downgraded Sunnova Energy International from a “buy” rating to a “hold” rating and cut their target price for the stock from $9.00 to $2.00 in a research note on Friday, February 7th. Wolfe Research downgraded Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Robert W. Baird reissued a “neutral” rating and set a $2.00 target price (down from $9.00) on shares of Sunnova Energy International in a research note on Monday. Finally, Capital One Financial downgraded Sunnova Energy International from an “overweight” rating to an “equal weight” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $5.39.

Sunnova Energy International Stock Down 19.1 %

NOVA opened at $0.55 on Tuesday. The business has a 50 day moving average price of $2.70 and a two-hundred day moving average price of $5.49. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26. The company has a market cap of $68.22 million, a PE ratio of -0.16 and a beta of 2.64. Sunnova Energy International has a 52 week low of $0.47 and a 52 week high of $13.00.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings data on Monday, March 3rd. The company reported ($2.96) EPS for the quarter, missing the consensus estimate of ($0.79) by ($2.17). The company had revenue of $224.13 million for 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 period in the prior year, the company earned $0.37 earnings per share. As a group, research analysts anticipate that Sunnova Energy International will post -2.63 EPS for the current year.

Institutional Investors Weigh In On Sunnova Energy International

A number of large investors have recently bought and sold shares of the stock. Sylebra Capital LLC grew its holdings in Sunnova Energy International by 125.6% during the 3rd quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock valued at $121,195,000 after buying an additional 6,926,399 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Sunnova Energy International during the third quarter worth $76,550,000. Invesco Ltd. boosted its holdings in shares of Sunnova Energy International by 55.2% during the fourth quarter. Invesco Ltd. now owns 6,082,399 shares of the company’s stock worth $20,863,000 after purchasing an additional 2,162,379 shares during the last quarter. Amundi boosted its holdings in shares of Sunnova Energy International by 11.2% during the fourth quarter. Amundi now owns 4,385,286 shares of the company’s stock worth $14,988,000 after purchasing an additional 441,232 shares during the last quarter. Finally, Electron Capital Partners LLC boosted its holdings in shares of Sunnova Energy International by 1.0% during the fourth 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.

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.