Sunnova Energy International (NYSE:NOVA) Lowered to “Equal Weight” Rating by Barclays

Barclays cut shares of Sunnova Energy International (NYSE:NOVA) from an overweight rating to an equal weight rating in a research note published on Wednesday morning, Marketbeat Ratings reports. Barclays currently has $1.00 target price on the stock, down from their prior target price of $9.00.

A number of other brokerages have also recently commented on NOVA. Jefferies Financial Group cut Sunnova Energy International from a “buy” rating to a “hold” rating and lowered their target price for the company from $9.00 to $2.00 in a report on Friday, February 7th. Capital One Financial cut Sunnova Energy International from an “overweight” rating to an “equal weight” rating in a report on Monday. UBS Group cut Sunnova Energy International from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $5.00 to $0.65 in a research note on Tuesday. BMO Capital Markets decreased their price objective on Sunnova Energy International from $4.00 to $0.85 and set a “market perform” rating for the company in a research note on Tuesday. Finally, Truist Financial cut Sunnova Energy International from a “buy” rating to a “hold” rating in a research note on Monday. Two analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $5.39.

Sunnova Energy International Stock Down 19.1 %

Shares of NYSE:NOVA opened at $0.55 on Wednesday. The business has a 50-day moving average price of $2.70 and a 200 day moving average price of $5.49. Sunnova Energy International has a 12-month low of $0.47 and a 12-month high of $13.00. The company has a market capitalization of $68.22 million, a price-to-earnings ratio of -0.16 and a beta of 2.64. 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 (NYSE:NOVA) last announced its earnings results on Monday, March 3rd. The company reported ($2.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($2.17). Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The firm had revenue of $224.13 million for the quarter, compared to analysts’ expectations of $235.85 million. During the same quarter last year, the business earned $0.37 earnings per share. Sell-side analysts expect that Sunnova Energy International will post -2.63 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NOVA. Erste Asset Management GmbH acquired a new position in Sunnova Energy International during the third quarter worth approximately $76,550,000. Sylebra Capital LLC increased its position in Sunnova Energy International by 125.6% during the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock worth $121,195,000 after buying an additional 6,926,399 shares during the period. CenterBook Partners LP acquired a new position in Sunnova Energy International during the fourth quarter worth approximately $8,565,000. Invesco Ltd. increased its position in Sunnova Energy International by 55.2% during the fourth quarter. Invesco Ltd. now owns 6,082,399 shares of the company’s stock worth $20,863,000 after buying an additional 2,162,379 shares during the period. Finally, Capital Fund Management S.A. increased its position in Sunnova Energy International by 456.4% during the fourth quarter. Capital Fund Management S.A. now owns 1,737,569 shares of the company’s stock worth $5,960,000 after buying an additional 1,425,281 shares during the period.

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.