Sunnova Energy International (NYSE:NOVA) Downgraded by UBS Group to “Neutral”

UBS Group lowered shares of Sunnova Energy International (NYSE:NOVA) from a buy rating to a neutral rating in a research note released on Tuesday morning, Marketbeat Ratings reports. UBS Group currently has $0.65 price target on the stock, down from their prior price target of $5.00.

NOVA has been the topic of a number of other reports. Capital One Financial downgraded shares of Sunnova Energy International from an “overweight” rating to an “equal weight” rating in a research report on Monday. Guggenheim downgraded shares of Sunnova Energy International from a “buy” rating to a “neutral” rating in a research report on Thursday, November 7th. BNP Paribas downgraded shares of Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 price target on the stock. in a research report on Friday, November 8th. Morgan Stanley dropped their price target on shares of Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Friday, November 15th. Finally, The Goldman Sachs Group dropped their price target on shares of Sunnova Energy International from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, December 17th. Two analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $5.39.

Sunnova Energy International Trading Down 6.3 %

Sunnova Energy International stock opened at $0.52 on Tuesday. The firm’s 50-day moving average is $2.63 and its 200-day moving average is $5.45. 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 has a 1 year low of $0.47 and a 1 year high of $13.00. The company has a market cap of $64.85 million, a P/E ratio of -0.15 and a beta of 2.64.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($2.96) earnings per share for the quarter, missing the consensus estimate of ($0.79) by ($2.17). The firm had revenue of $224.13 million during 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 quarter in the prior year, the business earned $0.37 earnings per share. On average, equities analysts expect that Sunnova Energy International will post -2.63 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. DRW Securities LLC purchased a new position in Sunnova Energy International during the third quarter valued at approximately $989,000. Erste Asset Management GmbH purchased a new position in Sunnova Energy International during the third quarter valued at approximately $76,550,000. Stratos Wealth Partners LTD. purchased a new position in Sunnova Energy International during the fourth quarter valued at approximately $114,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Sunnova Energy International by 190.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 744,686 shares of the company’s stock valued at $7,253,000 after purchasing an additional 488,623 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Sunnova Energy International by 17.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 901,433 shares of the company’s stock valued at $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.