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

Citigroup downgraded shares of Sunnova Energy International (NYSE:NOVA) from a strong-buy rating to a hold rating in a research report released on Thursday,Zacks.com reports.

A number of other brokerages also recently issued reports on NOVA. Barclays downgraded shares of Sunnova Energy International from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $9.00 to $1.00 in a report on Wednesday, March 5th. Royal Bank of Canada dropped their price objective on shares of Sunnova Energy International from $5.00 to $0.75 and set a “sector perform” rating on the stock in a report on Tuesday, March 4th. Mizuho downgraded shares of Sunnova Energy International from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $11.00 to $1.00 in a report on Wednesday, March 5th. Baird R W downgraded shares of Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Truist Financial downgraded shares of Sunnova Energy International from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $5.39.

Sunnova Energy International Stock Performance

Shares of NYSE NOVA opened at $0.32 on Thursday. The firm’s 50-day moving average price is $2.24 and its 200-day moving average price is $5.04. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26. The company has a market cap of $39.40 million, a PE ratio of -0.09 and a beta of 2.64. Sunnova Energy International has a 52-week low of $0.25 and a 52-week high of $13.00.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings results on Monday, March 3rd. The company reported ($2.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($2.17). The company had revenue of $224.13 million for the quarter, compared to analysts’ expectations 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 in the previous year, the business earned $0.37 EPS. As a group, analysts anticipate that Sunnova Energy International will post -2.63 EPS for the current year.

Institutional Trading of Sunnova Energy International

A number of large investors have recently made changes to their positions in the stock. Sunbelt Securities Inc. purchased a new stake in shares of Sunnova Energy International during the fourth quarter valued at $1,211,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Sunnova Energy International by 20.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 446,138 shares of the company’s stock valued at $1,530,000 after purchasing an additional 77,075 shares during the period. Westwood Holdings Group Inc. purchased a new stake in shares of Sunnova Energy International during the fourth quarter valued at $1,308,000. Twinbeech Capital LP purchased a new stake in shares of Sunnova Energy International during the fourth quarter valued at $89,000. Finally, Two Sigma Advisers LP purchased a new stake in Sunnova Energy International in the fourth quarter worth about $35,000.

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.