Sunnova Energy International (NYSE:NOVA) Posts Earnings Results, Misses Estimates By $2.17 EPS

Sunnova Energy International (NYSE:NOVA - Get Free Report) issued its quarterly earnings data on Monday. The company reported ($2.96) earnings per share for the quarter, missing analysts' consensus estimates of ($0.79) by ($2.17), RTT News reports. The firm had revenue of $224.13 million during the quarter, compared to analyst estimates 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 firm posted $0.37 earnings per share.

Sunnova Energy International Stock Performance

Shares of NOVA stock traded down $0.02 during mid-day trading on Friday, hitting $0.50. 24,029,645 shares of the stock were exchanged, compared to its average volume of 15,046,004. The stock's fifty day simple moving average is $2.63 and its two-hundred day simple moving average is $5.45. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86. Sunnova Energy International has a 12-month low of $0.47 and a 12-month high of $13.00. The stock has a market capitalization of $62.85 million, a price-to-earnings ratio of -0.15 and a beta of 2.64.

Analyst Ratings Changes

A number of equities analysts recently commented on NOVA shares. Baird R W cut Sunnova Energy International from a "strong-buy" rating to a "hold" rating in a report on Monday. Truist Financial lowered shares of Sunnova Energy International from a "buy" rating to a "hold" rating in a research note on Monday. Piper Sandler cut their target price on shares of Sunnova Energy International from $4.50 to $1.00 and set a "neutral" rating on the stock in a research note on Wednesday. The Goldman Sachs Group lowered shares of Sunnova Energy International from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $10.00 to $1.00 in a report on Tuesday. Finally, Barclays downgraded shares of Sunnova Energy International from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $9.00 to $1.00 in a research note on Wednesday. Two analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $5.39.

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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.