Sunnova Energy International (NYSE:NOVA) Rating Lowered to Neutral at Mizuho

Mizuho cut shares of Sunnova Energy International (NYSE:NOVA - Free Report) from an outperform rating to a neutral rating in a research report sent to investors on Wednesday, MarketBeat Ratings reports. Mizuho currently has $1.00 target price on the stock, down from their prior target price of $11.00.

Other equities research analysts have also recently issued research reports about the company. Susquehanna cut Sunnova Energy International from a "positive" rating to a "neutral" rating and decreased their price target for the company from $14.00 to $4.50 in a research note on Friday, January 10th. Baird R W lowered Sunnova Energy International from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Wells Fargo & Company lowered Sunnova Energy International from an "equal weight" rating to an "underweight" rating and dropped their target price for the company from $4.00 to $0.50 in a report on Tuesday, March 4th. Morgan Stanley dropped their price target on Sunnova Energy International from $12.00 to $6.00 and set an "equal weight" rating on the stock in a report on Friday, November 15th. Finally, Roth Mkm lowered Sunnova Energy International from a "buy" rating to a "neutral" rating in a report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Sunnova Energy International has a consensus rating of "Hold" and an average price target of $5.39.

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Sunnova Energy International Price Performance

Shares of NYSE:NOVA traded down $0.02 during midday trading 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. The business's fifty day simple moving average is $2.57 and its 200-day simple moving average is $5.36. 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 market capitalization of $62.85 million, a P/E ratio of -0.15 and a beta of 2.64. Sunnova Energy International has a fifty-two week low of $0.47 and a fifty-two week high of $13.00.

Sunnova Energy International (NYSE:NOVA - Get Free Report) last released its earnings results on Monday, March 3rd. The company reported ($2.96) EPS for the quarter, missing the consensus estimate of ($0.79) by ($2.17). The firm 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 quarter in the previous year, the firm posted $0.37 EPS. As a group, equities research analysts expect that Sunnova Energy International will post -2.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Erste Asset Management GmbH purchased a new position in shares of Sunnova Energy International in the 3rd quarter valued at approximately $76,550,000. Sylebra Capital LLC raised its holdings in Sunnova Energy International by 125.6% during the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company's stock worth $121,195,000 after purchasing an additional 6,926,399 shares during the last quarter. CenterBook Partners LP acquired a new position in Sunnova Energy International during the fourth quarter worth $8,565,000. Invesco Ltd. raised its holdings in shares of Sunnova Energy International by 55.2% in the fourth quarter. Invesco Ltd. now owns 6,082,399 shares of the company's stock worth $20,863,000 after acquiring an additional 2,162,379 shares during the last quarter. Finally, Capital Fund Management S.A. raised its holdings in shares of Sunnova Energy International by 456.4% in the fourth quarter. Capital Fund Management S.A. now owns 1,737,569 shares of the company's stock worth $5,960,000 after acquiring an additional 1,425,281 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.