Sunnova Energy International (NYSE:NOVA) Stock Rating Lowered by Janney Montgomery Scott

Sunnova Energy International (NYSE:NOVA - Get Free Report) was downgraded by equities researchers at Janney Montgomery Scott from a "buy" rating to a "neutral" rating in a note issued to investors on Tuesday, MarketBeat Ratings reports. They presently have a $1.00 price target on the stock. Janney Montgomery Scott's price objective points to a potential upside of 98.81% from the company's previous close.

NOVA has been the topic of a number of other research reports. Robert W. Baird reiterated a "neutral" rating and set a $2.00 target price (down previously from $9.00) on shares of Sunnova Energy International in a report on Monday, March 3rd. Piper Sandler reduced their target price on Sunnova Energy International from $8.00 to $4.50 and set a "neutral" rating on the stock in a report on Friday, November 22nd. Jefferies Financial Group downgraded 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 report on Friday, February 7th. Roth Mkm downgraded Sunnova Energy International from a "buy" rating to a "neutral" rating in a report on Monday, March 3rd. Finally, UBS Group downgraded Sunnova Energy International from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $5.00 to $0.65 in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus 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. Sunnova Energy International has a 12-month low of $0.47 and a 12-month high of $13.00. 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. The company has a 50 day moving average price of $2.63 and a 200-day moving average price of $5.45.

Sunnova Energy International (NYSE:NOVA - Get Free Report) 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). Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The business had revenue of $224.13 million for the quarter, compared to analysts' expectations of $235.85 million. During the same quarter in the prior year, the firm earned $0.37 EPS. 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

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