Sunnova Energy International (NYSE:NOVA) Downgraded to Underweight Rating by Wells Fargo & Company

Sunnova Energy International (NYSE:NOVA - Get Free Report) was downgraded by Wells Fargo & Company from an "equal weight" rating to an "underweight" rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. They currently have a $0.50 price objective on the stock, down from their previous price objective of $4.00. Wells Fargo & Company's target price indicates a potential downside of 0.60% from the company's current price.

Several other brokerages also recently commented on NOVA. Roth Mkm downgraded Sunnova Energy International from a "buy" rating to a "neutral" rating in a research report on Monday. Piper Sandler lowered their price target 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. Truist Financial downgraded Sunnova Energy International from a "buy" rating to a "hold" rating in a research note on Monday. Susquehanna cut shares of Sunnova Energy International from a "positive" rating to a "neutral" rating and reduced their price objective for the company from $14.00 to $4.50 in a research report on Friday, January 10th. Finally, TD Cowen assumed coverage on shares of Sunnova Energy International in a research report on Thursday, December 19th. They set a "hold" rating and a $5.00 target price for the company. Two 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 given a strong buy rating to the stock. According to data from MarketBeat, Sunnova Energy International has a consensus rating of "Hold" and a consensus price target of $5.39.

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Sunnova Energy International Stock Performance

Sunnova Energy International stock traded down $0.02 during midday trading on Tuesday, hitting $0.50. The stock had a trading volume of 24,029,645 shares, compared to its average volume of 15,046,004. Sunnova Energy International has a 52-week low of $0.47 and a 52-week high of $13.00. The company has a market capitalization of $62.85 million, a PE ratio of -0.15 and a beta of 2.64. The firm's fifty day moving average is $2.63 and its two-hundred day moving average is $5.45. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26.

Sunnova Energy International (NYSE:NOVA - Get Free Report) last announced its quarterly earnings data 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 return on equity of 11.15% and a negative net margin of 51.02%. The firm had revenue of $224.13 million during the quarter, compared to analysts' expectations of $235.85 million. During the same period last year, the company earned $0.37 earnings per share. On average, research analysts forecast that Sunnova Energy International will post -2.63 EPS for the current year.

Institutional Trading of Sunnova Energy International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Trust Direct Indexing L.P. grew its stake in shares of Sunnova Energy International by 11.6% during the third quarter. First Trust Direct Indexing L.P. now owns 19,373 shares of the company's stock valued at $189,000 after buying an additional 2,016 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Sunnova Energy International by 37,400.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,000 shares of the company's stock valued at $308,000 after acquiring an additional 2,992 shares during the period. Peapack Gladstone Financial Corp boosted its holdings in Sunnova Energy International by 11.0% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 32,200 shares of the company's stock valued at $314,000 after acquiring an additional 3,200 shares during the period. PFG Investments LLC grew its position in Sunnova Energy International by 37.0% in the 4th quarter. PFG Investments LLC now owns 18,345 shares of the company's stock valued at $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 worth $70,000 after purchasing an additional 5,662 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.