Piper Sandler Issues Pessimistic Forecast for Sunnova Energy International (NYSE:NOVA) Stock Price

Sunnova Energy International (NYSE:NOVA - Get Free Report) had its target price lowered by Piper Sandler from $4.50 to $1.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Piper Sandler's price target points to a potential upside of 98.81% from the company's previous close.

Other research analysts have also recently issued reports about the company. Royal Bank of Canada decreased their target price on Sunnova Energy International from $5.00 to $0.75 and set a "sector perform" rating for the company in a research note on Tuesday, March 4th. Mizuho cut Sunnova Energy International from an "outperform" rating to a "neutral" rating and reduced their price objective for the stock from $11.00 to $1.00 in a research report on Wednesday. Roth Capital cut Sunnova Energy International from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. The Goldman Sachs Group cut Sunnova Energy International from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $10.00 to $1.00 in a research report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. cut Sunnova Energy International from an "overweight" rating to a "neutral" rating in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Sunnova Energy International currently has an average rating of "Hold" and a consensus price target of $5.39.

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Sunnova Energy International Trading Down 3.3 %

NYSE:NOVA traded down $0.02 on Wednesday, reaching $0.50. The company's stock had a trading volume of 24,029,645 shares, compared to its average volume of 15,046,004. 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 quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $62.85 million, a PE ratio of -0.15 and a beta of 2.64. The business's 50-day moving average price is $2.57 and its two-hundred day moving average price is $5.36.

Sunnova Energy International (NYSE:NOVA - Get Free Report) last posted its 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 during the quarter, compared to analyst estimates of $235.85 million. During the same period in the previous year, the firm posted $0.37 earnings per share. Equities research analysts anticipate that Sunnova Energy International will post -2.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Cibc World Markets Corp purchased a new stake in Sunnova Energy International during the fourth quarter valued at about $35,000. Crux Wealth Advisors purchased a new stake in Sunnova Energy International in the fourth quarter worth about $35,000. Two Sigma Advisers LP purchased a new stake in Sunnova Energy International in the fourth quarter worth about $35,000. Integrated Wealth Concepts LLC purchased a new position in shares of Sunnova Energy International during the fourth quarter valued at approximately $40,000. Finally, Teza Capital Management LLC purchased a new position in shares of Sunnova Energy International during the fourth quarter valued at approximately $48,000.

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.