Sunnova Energy International (NYSE:NOVA) Downgraded to Neutral Rating by Mizuho

Mizuho cut shares of Sunnova Energy International (NYSE:NOVA) from an outperform rating to a neutral rating in a research note issued to investors on Wednesday, MarketBeat reports. Mizuho currently has $1.00 price target on the stock, down from their previous price target of $11.00.

A number of other research analysts also recently commented on the company. Robert W. Baird reaffirmed a “neutral” rating and set a $2.00 target price (down previously from $9.00) on shares of Sunnova Energy International in a report on Monday. Piper Sandler cut their price target on Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating on the stock in a report on Friday, November 22nd. Roth Capital downgraded Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a report on Monday. JPMorgan Chase & Co. downgraded Sunnova Energy International from an “overweight” rating to a “neutral” rating in a report on Monday. Finally, Guggenheim downgraded Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $5.39.

Sunnova Energy International Trading Down 19.1 %

NYSE:NOVA opened at $0.55 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26. The business’s 50 day moving average is $2.70 and its two-hundred day moving average is $5.49. Sunnova Energy International has a 52 week low of $0.47 and a 52 week high of $13.00. The company has a market cap of $68.22 million, a PE ratio of -0.16 and a beta of 2.64.

Sunnova Energy International (NYSE:NOVA) last released its earnings results on Monday, March 3rd. The company reported ($2.96) EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $235.85 million. During the same period in the prior year, the business earned $0.37 EPS. On average, analysts predict that Sunnova Energy International will post -2.63 EPS for the current year.

Institutional Trading of Sunnova Energy International

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sylebra Capital LLC raised its stake in shares of Sunnova Energy International by 125.6% in the 3rd quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock worth $121,195,000 after buying an additional 6,926,399 shares in the last quarter. Erste Asset Management GmbH bought a new stake in shares of Sunnova Energy International in the 3rd quarter worth $76,550,000. Invesco Ltd. raised its stake in shares of Sunnova Energy International by 55.2% in the 4th quarter. Invesco Ltd. now owns 6,082,399 shares of the company’s stock worth $20,863,000 after buying an additional 2,162,379 shares in the last quarter. Amundi raised its stake in shares of Sunnova Energy International by 11.2% in the 4th quarter. Amundi now owns 4,385,286 shares of the company’s stock worth $14,988,000 after buying an additional 441,232 shares in the last quarter. Finally, Electron Capital Partners LLC raised its stake in shares of Sunnova Energy International by 1.0% in the 4th quarter. Electron Capital Partners LLC now owns 3,447,218 shares of the company’s stock worth $11,824,000 after buying an additional 35,233 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.