Royal Bank of Canada Downgrades Sunnova Energy International (NYSE:NOVA) to Sector Perform

Royal Bank of Canada downgraded shares of Sunnova Energy International (NYSE:NOVA - Free Report) from an outperform rating to a sector perform rating in a research report report published on Monday, Marketbeat Ratings reports.

A number of other research firms also recently issued reports on NOVA. Deutsche Bank Aktiengesellschaft reduced their price objective on Sunnova Energy International from $9.00 to $6.25 and set a "hold" rating on the stock in a research note on Friday, November 1st. BMO Capital Markets restated a "market perform" rating and set a $8.00 target price (down from $10.00) on shares of Sunnova Energy International in a research report on Friday, November 1st. Morgan Stanley reduced their price objective on Sunnova Energy International from $12.00 to $6.00 and set an "equal weight" rating on the stock in a research note on Friday, November 15th. Wolfe Research lowered shares of Sunnova Energy International from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 4th. Finally, Jefferies Financial Group initiated coverage on shares of Sunnova Energy International in a research note on Thursday, October 10th. They issued a "buy" rating and a $15.00 target price on the stock. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $10.73.

Sunnova Energy International Stock Performance

Shares of NYSE NOVA traded up $0.02 during trading on Monday, hitting $4.49. The company had a trading volume of 8,299,481 shares, compared to its average volume of 8,432,808. The stock has a 50 day simple moving average of $5.48 and a 200 day simple moving average of $6.96. The firm has a market capitalization of $561.03 million, a P/E ratio of -1.33 and a beta of 2.22. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86. Sunnova Energy International has a 12 month low of $2.99 and a 12 month high of $16.35.

Sunnova Energy International (NYSE:NOVA - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.45). Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The firm had revenue of $235.30 million for the quarter, compared to analysts' expectations of $238.23 million. During the same quarter last year, the firm posted ($0.53) EPS. The firm's quarterly revenue was up 18.6% compared to the same quarter last year. As a group, analysts anticipate that Sunnova Energy International will post -2.44 earnings per share for the current year.

Insider Buying and Selling at Sunnova Energy International

In other Sunnova Energy International news, CFO Eric Michael Williams purchased 13,800 shares of the business's stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average price of $3.60 per share, for a total transaction of $49,680.00. Following the purchase, the chief financial officer now directly owns 13,800 shares in the company, valued at approximately $49,680. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Akbar Mohamed bought 50,000 shares of the firm's stock in a transaction dated Monday, November 18th. The shares were acquired at an average price of $3.64 per share, for a total transaction of $182,000.00. Following the transaction, the director now directly owns 352,654 shares in the company, valued at approximately $1,283,660.56. This represents a 16.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 118,517 shares of company stock worth $439,605. Company insiders own 4.50% of the company's stock.

Institutional Investors Weigh In On Sunnova Energy International

Hedge funds have recently modified their holdings of the business. First Trust Direct Indexing L.P. grew its holdings in Sunnova Energy International by 11.6% in the 3rd 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 in the last quarter. Ballentine Partners LLC raised its position in shares of Sunnova Energy International by 15.9% during the 3rd quarter. Ballentine Partners LLC now owns 21,515 shares of the company's stock valued at $210,000 after buying an additional 2,956 shares during the period. International Assets Investment Management LLC lifted its holdings in 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 acquiring an additional 2,992 shares during the last quarter. Peapack Gladstone Financial Corp grew its position in Sunnova Energy International by 11.0% in the third quarter. Peapack Gladstone Financial Corp now owns 32,200 shares of the company's stock worth $314,000 after acquiring an additional 3,200 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Sunnova Energy International by 6.7% during the second quarter. The Manufacturers Life Insurance Company now owns 56,487 shares of the company's stock worth $315,000 after acquiring an additional 3,559 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.