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 rating of “Hold” from the twenty-six analysts that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, twenty-two have given a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $4.36.

A number of research analysts have weighed in on the company. Mizuho lowered Sunnova Energy International from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $11.00 to $1.00 in a research note on Wednesday, March 5th. Janney Montgomery Scott lowered Sunnova Energy International from a “buy” rating to a “neutral” rating and set a $1.00 price target on the stock. in a research note on Tuesday, March 4th. Wells Fargo & Company lowered Sunnova Energy International from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $4.00 to $0.50 in a research note on Tuesday, March 4th. JPMorgan Chase & Co. downgraded Sunnova Energy International from an “overweight” rating to a “neutral” rating in a report on Monday, March 3rd. Finally, Truist Financial downgraded Sunnova Energy International from a “buy” rating to a “hold” rating in a report on Monday, March 3rd.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Cibc World Markets Corp acquired a new position in shares of Sunnova Energy International during the fourth quarter valued at approximately $35,000. Two Sigma Advisers LP acquired a new position in shares of Sunnova Energy International during the fourth quarter valued at approximately $35,000. Crux Wealth Advisors acquired a new position in shares of Sunnova Energy International during the fourth quarter valued at approximately $35,000. Integrated Wealth Concepts LLC acquired a new position in shares of Sunnova Energy International during the fourth quarter valued at approximately $40,000. Finally, Teza Capital Management LLC acquired a new position in shares of Sunnova Energy International during the fourth quarter valued at approximately $48,000.

Sunnova Energy International Price Performance

NOVA stock opened at $0.22 on Friday. Sunnova Energy International has a 1 year low of $0.15 and a 1 year high of $13.00. The firm has a market cap of $27.40 million, a P/E ratio of -0.07 and a beta of 3.01. The stock’s 50 day moving average price is $0.27 and its 200 day moving average price is $2.33. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings results 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). Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The business had revenue of $224.13 million for the quarter, compared to analysts’ expectations of $235.85 million. During the same period in the prior year, the company earned $0.37 EPS. On average, sell-side analysts expect that Sunnova Energy International will post -2.63 earnings per share for the current fiscal year.

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.