Sunnova Energy International (NYSE:NOVA) Downgraded by Citigroup to Hold

Sunnova Energy International (NYSE:NOVA) was downgraded by equities research analysts at Citigroup from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other equities analysts have also commented on the stock. Susquehanna lowered shares of Sunnova Energy International from a “positive” rating to a “neutral” rating and reduced their target price for the stock from $14.00 to $4.50 in a research report on Friday, January 10th. Guggenheim raised Sunnova Energy International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Royal Bank of Canada cut their price target on Sunnova Energy International from $5.00 to $0.75 and set a “sector perform” rating on the stock in a research note on Tuesday, March 4th. Morgan Stanley lowered their price objective on shares of Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating for the company in a research note on Friday, November 15th. Finally, Baird R W cut shares of Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, twenty-three have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $5.39.

Sunnova Energy International Price Performance

Shares of NOVA stock opened at $0.32 on Thursday. The stock has a 50 day moving average price of $2.24 and a 200 day moving average price of $5.04. Sunnova Energy International has a 52-week low of $0.25 and a 52-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. The firm has a market capitalization of $39.40 million, a P/E ratio of -0.09 and a beta of 2.64.

Sunnova Energy International (NYSE:NOVA) last released its earnings results 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 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 return on equity of 11.15% and a negative net margin of 51.02%. During the same quarter last year, the business posted $0.37 earnings per share. As a group, sell-side 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

Hedge funds have recently modified their holdings of the stock. Cibc World Markets Corp acquired a new stake in Sunnova Energy International in the 4th quarter worth approximately $35,000. Crux Wealth Advisors acquired a new position in Sunnova Energy International during the 4th quarter valued at approximately $35,000. Two Sigma Advisers LP acquired a new stake in shares of Sunnova Energy International during the fourth quarter worth $35,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Sunnova Energy International during the fourth quarter valued at $40,000. Finally, Teza Capital Management LLC acquired a new position in shares of Sunnova Energy International in the 4th quarter valued at $48,000.

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.