Roth Capital Downgrades Sunnova Energy International (NYSE:NOVA) to Hold

Sunnova Energy International (NYSE:NOVA) was downgraded by equities researchers at Roth Capital from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research firms have also recently weighed in on NOVA. Robert W. Baird reaffirmed a “neutral” rating and set a $2.00 price target (down previously from $9.00) on shares of Sunnova Energy International in a report on Monday. TD Cowen began coverage on Sunnova Energy International in a report on Thursday, December 19th. They set a “hold” rating and a $5.00 target price on the stock. Roth Mkm cut Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Monday. Guggenheim cut Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Finally, Baird R W cut Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.59.

Sunnova Energy International Stock Performance

NOVA opened at $0.67 on Monday. The business’s 50 day moving average is $2.76 and its 200-day moving average is $5.52. The stock has a market cap of $83.84 million, a PE ratio of -0.20 and a beta of 2.28. 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 twelve month low of $0.47 and a twelve month high of $13.00.

Sunnova Energy International (NYSE:NOVA) last released 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). The business had revenue of $224.13 million for the quarter, compared to the consensus estimate 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 last year, the firm posted $0.37 EPS. On average, analysts predict that Sunnova Energy International will post -2.63 earnings per share for the current year.

Hedge Funds Weigh In On Sunnova Energy International

Institutional investors and hedge funds have recently modified their holdings of the stock. DRW Securities LLC bought a new stake in Sunnova Energy International in the third quarter worth $989,000. Erste Asset Management GmbH bought a new stake in Sunnova Energy International in the third quarter worth $76,550,000. Stratos Wealth Partners LTD. bought a new stake in Sunnova Energy International in the fourth quarter worth $114,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Sunnova Energy International by 190.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 744,686 shares of the company’s stock worth $7,253,000 after purchasing an additional 488,623 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Sunnova Energy International by 17.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 901,433 shares of the company’s stock worth $8,780,000 after purchasing an additional 134,065 shares in 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.