Royal Bank of Canada Has Lowered Expectations for Sunnova Energy International (NYSE:NOVA) Stock Price

Sunnova Energy International (NYSE:NOVA - Free Report) had its price target cut by Royal Bank of Canada from $5.00 to $0.75 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a sector perform rating on the stock.

A number of other research firms have also weighed in on NOVA. Wolfe Research lowered Sunnova Energy International from a "strong-buy" rating to a "hold" rating in a research report on Monday, November 4th. The Goldman Sachs Group lowered Sunnova Energy International from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $10.00 to $1.00 in a research report on Tuesday. BNP Paribas downgraded shares of Sunnova Energy International from a "neutral" rating to an "underperform" rating and set a $3.50 price objective on the stock. in a research report on Friday, November 8th. Capital One Financial lowered shares of Sunnova Energy International from an "overweight" rating to an "equal weight" rating in a research note on Monday, March 3rd. Finally, Jefferies Financial Group downgraded shares of Sunnova Energy International from a "buy" rating to a "hold" rating and dropped their target price for the stock from $9.00 to $2.00 in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $5.39.

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Sunnova Energy International Trading Down 3.3 %

NYSE:NOVA traded down $0.02 during mid-day trading on Tuesday, reaching $0.50. 24,029,645 shares of the company's stock traded hands, compared to its average volume of 15,046,004. The company has a 50 day moving average price of $2.63 and a 200-day moving average price of $5.45. The firm has a market capitalization of $62.85 million, a price-to-earnings ratio of -0.15 and a beta of 2.64. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86. Sunnova Energy International has a 12-month low of $0.47 and a 12-month high of $13.00.

Sunnova Energy International (NYSE:NOVA - Get Free Report) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($2.96) EPS for the quarter, missing the consensus estimate of ($0.79) by ($2.17). Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The company had revenue of $224.13 million during the quarter, compared to the consensus estimate of $235.85 million. During the same quarter last year, the company posted $0.37 earnings per share. On average, sell-side analysts predict that Sunnova Energy International will post -2.63 earnings per share for the current year.

Institutional Trading of Sunnova Energy International

Institutional investors have recently added to or reduced their stakes in the stock. First Trust Direct Indexing L.P. raised its position in shares of Sunnova Energy International by 11.6% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 19,373 shares of the company's stock worth $189,000 after purchasing an additional 2,016 shares during the last quarter. International Assets Investment Management LLC increased its position in Sunnova Energy International by 37,400.0% during the third quarter. International Assets Investment Management LLC now owns 3,000 shares of the company's stock worth $308,000 after buying an additional 2,992 shares in the last quarter. Peapack Gladstone Financial Corp raised its holdings in shares of Sunnova Energy International by 11.0% in the third quarter. Peapack Gladstone Financial Corp now owns 32,200 shares of the company's stock worth $314,000 after acquiring an additional 3,200 shares during the last quarter. PFG Investments LLC lifted its position in shares of Sunnova Energy International by 37.0% in the fourth quarter. PFG Investments LLC now owns 18,345 shares of the company's stock valued at $63,000 after acquiring an additional 4,955 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of Sunnova Energy International by 38.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 20,490 shares of the company's stock valued at $70,000 after acquiring an additional 5,662 shares during 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.