Sunnova Energy International (NYSE:NOVA) Upgraded to "Strong-Buy" at Guggenheim

Sunnova Energy International (NYSE:NOVA - Get Free Report) was upgraded by Guggenheim from a "hold" rating to a "strong-buy" rating in a research report issued on Wednesday,Zacks.com reports.

NOVA has been the topic of several other reports. Mizuho cut Sunnova Energy International from an "outperform" rating to a "neutral" rating and dropped their price objective for the company from $11.00 to $1.00 in a research note on Wednesday, March 5th. BNP Paribas lowered shares of Sunnova Energy International from a "neutral" rating to an "underperform" rating and set a $3.50 price target on the stock. in a research report on Friday, November 8th. Royal Bank of Canada reduced their price objective on shares of Sunnova Energy International from $5.00 to $0.75 and set a "sector perform" rating for the company in a research report on Tuesday, March 4th. Piper Sandler dropped their target price on shares of Sunnova Energy International from $4.50 to $1.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 5th. Finally, UBS Group downgraded Sunnova Energy International from a "buy" rating to a "neutral" rating and cut their price target for the stock from $5.00 to $0.65 in a research note on Tuesday, March 4th. 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 given a strong buy rating to the stock. According to MarketBeat, Sunnova Energy International has an average rating of "Hold" and a consensus price target of $5.39.

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Sunnova Energy International Stock Up 15.4 %

Shares of NYSE NOVA traded up $0.08 during midday trading on Wednesday, hitting $0.58. 27,509,748 shares of the stock traded hands, compared to its average volume of 15,277,836. Sunnova Energy International has a one year low of $0.47 and a one year high of $13.00. The business has a 50 day moving average price of $2.57 and a two-hundred day moving average price of $5.33. 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 company has a market cap of $72.17 million, a PE ratio of -0.17 and a beta of 2.64.

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 for the quarter, missing the consensus estimate of ($0.79) by ($2.17). The business had revenue of $224.13 million during 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 period in the previous year, the business posted $0.37 EPS. On average, equities analysts predict that Sunnova Energy International will post -2.63 EPS for the current year.

Institutional Investors Weigh In On Sunnova Energy International

Hedge funds have recently added to or reduced their stakes in the business. Erste Asset Management GmbH acquired a new stake in shares of Sunnova Energy International in the third quarter valued at about $76,550,000. Sylebra Capital LLC grew its position in Sunnova Energy International by 125.6% in the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company's stock worth $121,195,000 after acquiring an additional 6,926,399 shares during the period. CenterBook Partners LP acquired a new stake in shares of Sunnova Energy International during the 4th quarter worth about $8,565,000. Invesco Ltd. lifted its position in Sunnova Energy International by 55.2% in the fourth quarter. Invesco Ltd. now owns 6,082,399 shares of the company's stock valued at $20,863,000 after buying an additional 2,162,379 shares during the last quarter. Finally, Capital Fund Management S.A. raised its stake in shares of Sunnova Energy International by 456.4% in the 4th quarter. Capital Fund Management S.A. now owns 1,737,569 shares of the company's stock valued at $5,960,000 after acquiring an additional 1,425,281 shares during the period.

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.