Sunnova Energy International (NYSE:NOVA) Rating Lowered to Underperform at BNP Paribas

Sunnova Energy International (NYSE:NOVA) was downgraded by BNP Paribas from a “neutral” rating to an “underperform” rating in a report issued on Friday, MarketBeat reports. They currently have a $3.50 target price on the stock. BNP Paribas’ price target would indicate a potential upside of 11.46% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. Royal Bank of Canada boosted their target price on Sunnova Energy International from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Wolfe Research downgraded shares of Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Jefferies Financial Group initiated coverage on shares of Sunnova Energy International in a research note on Thursday, October 10th. They set a “buy” rating and a $15.00 price target for the company. BMO Capital Markets reissued 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. Finally, Morgan Stanley boosted their target price on Sunnova Energy International from $11.00 to $13.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Sunnova Energy International currently has an average rating of “Moderate Buy” and a consensus target price of $11.23.

Sunnova Energy International Price Performance

Shares of NOVA stock traded down $0.51 on Friday, reaching $3.14. The company’s stock had a trading volume of 23,859,689 shares, compared to its average volume of 11,228,331. The company has a market capitalization of $392.34 million, a price-to-earnings ratio of -0.94 and a beta of 2.26. The stock’s fifty day simple moving average is $8.07 and its 200-day simple moving average is $6.92. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26. Sunnova Energy International has a 1 year low of $2.99 and a 1 year high of $16.35.

Sunnova Energy International (NYSE:NOVA) last announced its earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.45). The business had revenue of $235.30 million for the quarter, compared to analysts’ expectations of $238.23 million. Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.53) earnings per share. Analysts forecast that Sunnova Energy International will post -2.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider William J. Berger sold 77,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $11.31, for a total value of $870,870.00. Following the sale, the insider now directly owns 409,045 shares in the company, valued at approximately $4,626,298.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.50% of the stock is currently owned by company insiders.

Institutional Trading of Sunnova Energy International

A number of institutional investors have recently made changes to their positions in NOVA. First Affirmative Financial Network grew its holdings in shares of Sunnova Energy International by 12.9% during the second quarter. First Affirmative Financial Network now owns 14,829 shares of the company’s stock valued at $83,000 after buying an additional 1,691 shares during the last quarter. First Trust Direct Indexing L.P. lifted its stake in Sunnova Energy International by 11.6% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 19,373 shares of the company’s stock valued at $189,000 after acquiring an additional 2,016 shares during the period. Ballentine Partners LLC boosted its holdings in shares of Sunnova Energy International by 15.9% in the 3rd quarter. Ballentine Partners LLC now owns 21,515 shares of the company’s stock valued at $210,000 after acquiring an additional 2,956 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of 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 acquiring an additional 2,992 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Sunnova Energy International by 6.7% during the second quarter. The Manufacturers Life Insurance Company now owns 56,487 shares of the company’s stock worth $315,000 after purchasing an additional 3,559 shares during 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.