Sunnova Energy International (NYSE:NOVA) Downgraded by Capital One Financial to Equal Weight

Capital One Financial cut shares of Sunnova Energy International (NYSE:NOVA - Free Report) from an overweight rating to an equal weight rating in a research report sent to investors on Monday morning, Marketbeat.com reports.

A number of other analysts also recently issued reports on NOVA. JPMorgan Chase & Co. lowered their price target on Sunnova Energy International from $14.00 to $11.00 and set an "overweight" rating for the company in a research report on Thursday, January 23rd. Robert W. Baird lowered their price target on Sunnova Energy International from $12.00 to $9.00 and set an "outperform" rating for the company in a research report on Wednesday, December 18th. The Goldman Sachs Group reduced their target price on Sunnova Energy International from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Tuesday, December 17th. Morgan Stanley reduced their target price on Sunnova Energy International from $12.00 to $6.00 and set an "equal weight" rating on the stock in a research note on Friday, November 15th. Finally, Jefferies Financial Group lowered Sunnova Energy International from a "buy" rating to a "hold" rating and reduced 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-three have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $5.39.

Sunnova Energy International Price Performance

Shares of NYSE NOVA traded down $0.13 during midday trading on Monday, reaching $0.55. 44,673,433 shares of the stock traded hands, compared to its average volume of 14,266,023. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $68.22 million, a PE ratio of -0.16 and a beta of 2.64. Sunnova Energy International has a one year low of $0.47 and a one year high of $13.00. The company's 50 day moving average is $2.70 and its 200 day moving average is $5.49.

Sunnova Energy International (NYSE:NOVA - Get Free Report) last issued 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 during the quarter, compared to the consensus estimate of $235.85 million. Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. During the same quarter in the prior year, the business earned $0.37 earnings per share. On average, equities research analysts anticipate that Sunnova Energy International will post -2.63 earnings per share for the current year.

Hedge Funds Weigh In On Sunnova Energy International

Hedge funds have recently bought and sold shares of the stock. First Trust Direct Indexing L.P. raised its holdings in shares of Sunnova Energy International by 11.6% in the third quarter. First Trust Direct Indexing L.P. now owns 19,373 shares of the company's stock worth $189,000 after acquiring an additional 2,016 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Sunnova Energy International by 37,400.0% in the third quarter. International Assets Investment Management LLC now owns 3,000 shares of the company's stock worth $308,000 after acquiring an additional 2,992 shares during 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 raised its holdings 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 worth $63,000 after acquiring an additional 4,955 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in Sunnova Energy International by 38.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 20,490 shares of the company's stock valued at $70,000 after purchasing 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.