Piper Sandler Has Lowered Expectations for Sunnova Energy International (NYSE:NOVA) Stock Price

Sunnova Energy International (NYSE:NOVA) had its price objective lowered by stock analysts at Piper Sandler from $4.50 to $1.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 92.68% from the company’s previous close.

A number of other brokerages also recently weighed in on NOVA. Roth Mkm downgraded Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Monday. Mizuho downgraded Sunnova Energy International from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $11.00 to $1.00 in a report on Wednesday. Wells Fargo & Company downgraded Sunnova Energy International from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $4.00 to $0.50 in a report on Tuesday. Baird R W downgraded Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Janney Montgomery Scott downgraded Sunnova Energy International from a “buy” rating to a “neutral” rating and set a $1.00 price objective on the stock. in a report on Tuesday. Two analysts have rated the stock with a sell rating, twenty-three have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $5.39.

Sunnova Energy International Trading Down 6.3 %

Shares of NOVA stock opened at $0.52 on Wednesday. The stock’s fifty day moving average price is $2.63 and its two-hundred day moving average price is $5.45. The company has a market cap of $64.85 million, a PE ratio of -0.15 and a beta of 2.64. Sunnova Energy International has a fifty-two week low of $0.47 and a fifty-two week high of $13.00. 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 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). 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 period in the prior year, the business posted $0.37 EPS. Equities analysts predict that Sunnova Energy International will post -2.63 EPS for the current fiscal year.

Institutional Trading of Sunnova Energy International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NOVA. Sunbelt Securities Inc. bought a new stake in Sunnova Energy International during the 4th quarter worth approximately $1,211,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Sunnova Energy International by 20.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 446,138 shares of the company’s stock worth $1,530,000 after purchasing an additional 77,075 shares in the last quarter. Westwood Holdings Group Inc. bought a new stake in Sunnova Energy International during the 4th quarter worth approximately $1,308,000. Twinbeech Capital LP bought a new stake in Sunnova Energy International during the 4th quarter worth approximately $89,000. Finally, Two Sigma Advisers LP bought a new stake in Sunnova Energy International during the 4th quarter worth approximately $35,000.

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.