Sunnova Energy International (NYSE:NOVA) Rating Lowered to Underweight at Wells Fargo & Company

Sunnova Energy International (NYSE:NOVA) was downgraded by equities researchers at Wells Fargo & Company from an “equal weight” rating to an “underweight” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports. They presently have a $0.50 target price on the stock, down from their previous target price of $4.00. Wells Fargo & Company‘s price objective points to a potential downside of 16.44% from the company’s current price.

A number of other research firms have also weighed in on NOVA. Susquehanna lowered shares of Sunnova Energy International from a “positive” rating to a “neutral” rating and lowered their price objective for the company from $14.00 to $4.50 in a research report on Friday, January 10th. BNP Paribas downgraded shares of Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 target price on the stock. in a report on Friday, November 8th. JPMorgan Chase & Co. lowered shares of Sunnova Energy International from an “overweight” rating to a “neutral” rating in a research note on Monday. TD Cowen assumed coverage on shares of Sunnova Energy International in a research report on Thursday, December 19th. They issued a “hold” rating and a $5.00 price objective for the company. Finally, Royal Bank of Canada cut Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a research report on Monday, December 9th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Sunnova Energy International has an average rating of “Hold” and an average target price of $7.78.

Sunnova Energy International Stock Down 64.0 %

Sunnova Energy International stock opened at $0.60 on Tuesday. The stock has a market capitalization of $74.77 million, a price-to-earnings ratio of -0.18 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. The stock has a 50 day moving average of $2.82 and a two-hundred day moving average of $5.58. Sunnova Energy International has a twelve month low of $0.48 and a twelve month high of $13.00.

Hedge Funds Weigh In On Sunnova Energy International

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