Sunnova Energy International (NYSE:NOVA) Downgraded to "Hold" Rating by Truist Financial

Truist Financial lowered shares of Sunnova Energy International (NYSE:NOVA - Free Report) from a buy rating to a hold rating in a research report sent to investors on Monday morning, MarketBeat.com reports.

A number of other research analysts have also weighed in on the company. Wolfe Research lowered Sunnova Energy International from a "strong-buy" rating to a "hold" rating in a research report on Monday, November 4th. Barclays lowered their price target on Sunnova Energy International from $10.00 to $9.00 and set an "overweight" rating for the company in a research report on Wednesday, January 29th. JPMorgan Chase & Co. lowered shares of Sunnova Energy International from an "overweight" rating to a "neutral" rating in a research note on Monday. 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. Finally, Piper Sandler reduced their price target on shares of Sunnova Energy International from $8.00 to $4.50 and set a "neutral" rating for the company in a research report on Friday, November 22nd. Two analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $5.39.

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Sunnova Energy International Stock Down 2.9 %

Shares of NYSE NOVA traded down $0.02 during mid-day trading on Monday, hitting $0.51. 14,780,114 shares of the stock traded hands, compared to its average volume of 14,831,512. The company has a market cap of $63.10 million, a price-to-earnings ratio of -0.15 and a beta of 2.64. The stock has a fifty day moving average price of $2.63 and a 200-day moving average price of $5.45. Sunnova Energy International has a 52 week low of $0.47 and a 52 week high of $13.00. 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 (NYSE:NOVA - Get Free Report) last posted 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 business had revenue of $224.13 million for the quarter, compared to the consensus estimate of $235.85 million. During the same period in the previous year, the firm earned $0.37 EPS. Research analysts anticipate that Sunnova Energy International will post -2.63 EPS for the current year.

Hedge Funds Weigh In On Sunnova Energy International

A number of large investors have recently bought and sold shares of NOVA. DRW Securities LLC acquired a new stake in Sunnova Energy International in the third quarter valued at $989,000. Erste Asset Management GmbH acquired a new position in shares of Sunnova Energy International in the third quarter valued at approximately $76,550,000. Stratos Wealth Partners LTD. purchased a new stake in Sunnova Energy International in the 4th quarter worth approximately $114,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Sunnova Energy International by 190.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 744,686 shares of the company's stock valued at $7,253,000 after acquiring an additional 488,623 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Sunnova Energy International by 17.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 901,433 shares of the company's stock worth $8,780,000 after purchasing an additional 134,065 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.