Sunnova Energy International (NYSE:NOVA) Lowered to Hold Rating by Baird R W

Baird R W cut shares of Sunnova Energy International (NYSE:NOVA - Free Report) from a strong-buy rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

Several other research analysts also recently issued reports on NOVA. The Goldman Sachs Group downgraded shares of Sunnova Energy International from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $10.00 to $1.00 in a report on Tuesday, March 4th. UBS Group downgraded Sunnova Energy International from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $5.00 to $0.65 in a research report on Tuesday, March 4th. TD Cowen initiated coverage on Sunnova Energy International in a report on Thursday, December 19th. They set a "hold" rating and a $5.00 price objective on the stock. Barclays cut their target price on Sunnova Energy International from $10.00 to $9.00 and set an "overweight" rating for the company in a research note on Wednesday, January 29th. Finally, Susquehanna downgraded shares of Sunnova Energy International from a "positive" rating to a "neutral" rating and decreased their price target for the stock from $14.00 to $4.50 in a research note on Friday, January 10th. Two research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Sunnova Energy International presently has a consensus rating of "Hold" and a consensus price target of $5.39.

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Sunnova Energy International Stock Performance

NYSE:NOVA traded down $0.02 during midday trading on Monday, reaching $0.50. The stock had a trading volume of 24,029,645 shares, compared to its average volume of 15,046,004. The stock has a market capitalization of $62.85 million, a P/E ratio of -0.15 and a beta of 2.64. The firm's fifty day simple moving average is $2.57 and its 200-day simple moving average is $5.36. Sunnova Energy International has a 1-year low of $0.47 and a 1-year high of $13.00. 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 (NYSE:NOVA - Get Free Report) last announced its earnings results on Monday, March 3rd. The company reported ($2.96) earnings per share for the quarter, missing the consensus estimate of ($0.79) by ($2.17). The business had revenue of $224.13 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the company earned $0.37 EPS. On average, equities research analysts forecast that Sunnova Energy International will post -2.63 EPS for the current fiscal year.

Institutional Trading of Sunnova Energy International

Institutional investors and hedge funds have recently modified their holdings of the stock. Creative Planning purchased a new stake in Sunnova Energy International in the 3rd quarter valued at $107,000. 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 valued at $308,000 after purchasing an additional 2,992 shares during the last quarter. 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 valued at $189,000 after purchasing an additional 2,016 shares during the last quarter. GSA Capital Partners LLP lifted its position in shares of Sunnova Energy International by 28.4% during the third quarter. GSA Capital Partners LLP now owns 130,741 shares of the company's stock valued at $1,273,000 after purchasing an additional 28,931 shares in the last quarter. Finally, Mizuho Markets Americas LLC boosted its holdings in Sunnova Energy International by 53.7% during the third quarter. Mizuho Markets Americas LLC now owns 282,805 shares of the company's stock worth $2,755,000 after purchasing an additional 98,800 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.