BNP Paribas Downgrades Sunnova Energy International (NYSE:NOVA) to Underperform

BNP Paribas lowered shares of Sunnova Energy International (NYSE:NOVA - Free Report) from a neutral rating to an underperform rating in a research report sent to investors on Friday morning, Marketbeat reports. The brokerage currently has $3.50 price objective on the stock.

Several other research firms have also recently issued reports on NOVA. The Goldman Sachs Group lifted their price objective on Sunnova Energy International from $10.00 to $13.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Wolfe Research downgraded Sunnova Energy International from a "strong-buy" rating to a "hold" rating in a research note on Monday. Morgan Stanley lifted their target price on shares of Sunnova Energy International from $11.00 to $13.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 21st. BMO Capital Markets reiterated a "market perform" rating and issued a $8.00 target price (down from $10.00) on shares of Sunnova Energy International in a research report on Friday, November 1st. Finally, Barclays decreased their target price on shares of Sunnova Energy International from $12.00 to $10.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $11.23.

Sunnova Energy International Price Performance

NOVA stock traded down $0.51 during mid-day trading on Friday, reaching $3.14. 22,160,221 shares of the company's stock were exchanged, compared to its average volume of 8,139,455. The company has a market cap of $392.34 million, a price-to-earnings ratio of -0.93 and a beta of 2.26. Sunnova Energy International has a 12-month low of $2.99 and a 12-month high of $16.35. The stock's 50 day moving average is $8.23 and its 200 day moving average is $6.90. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86.

Sunnova Energy International (NYSE:NOVA - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.45). The company had revenue of $235.30 million during the quarter, compared to analyst estimates of $238.23 million. Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. Sunnova Energy International's revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.53) EPS. On average, research analysts expect that Sunnova Energy International will post -2.27 EPS for the current year.

Insider Buying and Selling at Sunnova Energy International

In other news, insider William J. Berger sold 77,000 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $11.31, for a total transaction of $870,870.00. Following the completion of the transaction, the insider now directly owns 409,045 shares of the company's stock, valued at $4,626,298.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sunnova Energy International

Large investors have recently added to or reduced their stakes in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Sunnova Energy International by 56.7% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 14,142,487 shares of the company's stock worth $78,915,000 after acquiring an additional 5,118,552 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Sunnova Energy International by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 10,568,045 shares of the company's stock valued at $64,782,000 after buying an additional 81,653 shares during the period. Handelsbanken Fonder AB increased its holdings in shares of Sunnova Energy International by 9.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company's stock worth $71,097,000 after buying an additional 611,452 shares during the last quarter. Sylebra Capital LLC purchased a new position in shares of Sunnova Energy International in the 2nd quarter worth $30,783,000. Finally, Electron Capital Partners LLC raised its holdings in shares of Sunnova Energy International by 24.5% in the 2nd quarter. Electron Capital Partners LLC now owns 3,004,938 shares of the company's stock worth $16,768,000 after purchasing an additional 591,514 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.