Sunnova Energy International (NYSE:NOVA) Rating Lowered to Neutral at The Goldman Sachs Group

Sunnova Energy International (NYSE:NOVA - Get Free Report) was downgraded by analysts at The Goldman Sachs Group from a "buy" rating to a "neutral" rating in a research report issued on Tuesday, Marketbeat Ratings reports. They currently have a $1.00 price target on the stock, down from their prior price target of $10.00. The Goldman Sachs Group's target price points to a potential upside of 98.81% from the company's previous close.

Several other research firms have also commented on NOVA. Jefferies Financial Group lowered Sunnova Energy International from a "buy" rating to a "hold" rating and dropped their target price for the company from $9.00 to $2.00 in a report on Friday, February 7th. Roth Mkm downgraded Sunnova Energy International from a "buy" rating to a "neutral" rating in a report on Monday. Wolfe Research cut Sunnova Energy International from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 4th. Piper Sandler dropped their price target on shares of Sunnova Energy International from $8.00 to $4.50 and set a "neutral" rating on the stock in a research note on Friday, November 22nd. Finally, BNP Paribas cut shares of Sunnova Energy International from a "neutral" rating to an "underperform" rating and set a $3.50 price objective on the stock. in a report on Friday, November 8th. Two 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $5.39.

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Sunnova Energy International Stock Down 3.3 %

Shares of Sunnova Energy International stock traded down $0.02 on Tuesday, reaching $0.50. 24,029,645 shares of the company were exchanged, compared to its average volume of 15,046,004. The stock's 50 day moving average price is $2.63 and its 200-day moving average price is $5.45. 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 has a 1-year low of $0.47 and a 1-year high of $13.00. The company has a market cap of $62.85 million, a P/E ratio of -0.15 and a beta of 2.64.

Sunnova Energy International (NYSE:NOVA - Get Free Report) last posted its quarterly 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). Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The firm had revenue of $224.13 million for the quarter, compared to analyst estimates of $235.85 million. During the same quarter last year, the firm earned $0.37 EPS. As a group, equities analysts forecast that Sunnova Energy International will post -2.63 EPS for the current year.

Institutional Trading of Sunnova Energy International

Institutional investors have recently added to or reduced their stakes in the stock. First Trust Direct Indexing L.P. increased its holdings in Sunnova Energy International by 11.6% in the third 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. International Assets Investment Management LLC increased its stake in Sunnova Energy International by 37,400.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,000 shares of the company's stock valued at $308,000 after purchasing an additional 2,992 shares in the last quarter. Peapack Gladstone Financial Corp raised its holdings in Sunnova Energy International by 11.0% during the third quarter. Peapack Gladstone Financial Corp now owns 32,200 shares of the company's stock worth $314,000 after purchasing an additional 3,200 shares during the last quarter. PFG Investments LLC raised its holdings in Sunnova Energy International by 37.0% during the fourth quarter. PFG Investments LLC now owns 18,345 shares of the company's stock worth $63,000 after purchasing an additional 4,955 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its position in Sunnova Energy International by 38.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 20,490 shares of the company's stock worth $70,000 after purchasing an additional 5,662 shares in 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.