Sunnova Energy International (NYSE:NOVA) Lowered to “Neutral” Rating by UBS Group

Sunnova Energy International (NYSE:NOVA) was downgraded by analysts at UBS Group from a “buy” rating to a “neutral” rating in a research note issued on Tuesday, Marketbeat.com reports. They currently have a $0.65 price objective on the stock, down from their previous price objective of $5.00. UBS Group’s price target indicates a potential upside of 8.62% from the company’s current price.

A number of other research firms also recently issued reports on NOVA. Guggenheim downgraded Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Barclays decreased their price target on shares of Sunnova Energy International from $10.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Wolfe Research lowered shares of Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. Morgan Stanley decreased their target price on shares of Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating for the company in a research report on Friday, November 15th. Finally, The Goldman Sachs Group cut their price target on shares of Sunnova Energy International from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, December 17th. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.78.

Sunnova Energy International Price Performance

Shares of NYSE NOVA opened at $0.60 on Tuesday. The company has a fifty day moving average price of $2.82 and a 200 day moving average price of $5.58. Sunnova Energy International has a 1-year low of $0.48 and a 1-year high of $13.00. The firm has a market cap of $74.77 million, a PE ratio of -0.18 and a beta of 2.28. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26.

Institutional Trading of Sunnova Energy International

A number of hedge funds have recently modified their holdings of the stock. DRW Securities LLC acquired a new position in Sunnova Energy International in the 3rd quarter valued at about $989,000. Erste Asset Management GmbH bought a new stake in shares of Sunnova Energy International during the third quarter worth approximately $76,550,000. Stratos Wealth Partners LTD. acquired a new position in shares of Sunnova Energy International in the fourth quarter valued at approximately $114,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Sunnova Energy International by 190.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 744,686 shares of the company’s stock worth $7,253,000 after purchasing an additional 488,623 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Sunnova Energy International by 17.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 901,433 shares of the company’s stock worth $8,780,000 after purchasing an additional 134,065 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.