Sunnova Energy International (NYSE:NOVA) Rating Lowered to Sector Perform at Royal Bank of Canada

Sunnova Energy International (NYSE:NOVA) was downgraded by analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports.

Several other research analysts also recently issued reports on the company. BNP Paribas downgraded Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 price target for the company. in a research note on Friday, November 8th. Robert W. Baird reduced their price target on shares of Sunnova Energy International from $18.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. BMO Capital Markets reissued a “market perform” rating and set a $8.00 price objective (down from $10.00) on shares of Sunnova Energy International in a research note on Friday, November 1st. Piper Sandler cut their price objective on Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating for the company in a research report on Friday, November 22nd. Finally, Citigroup lowered their target price on Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. 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. Based on data from MarketBeat, Sunnova Energy International has a consensus rating of “Hold” and an average target price of $10.73.

Sunnova Energy International Stock Performance

NYSE NOVA opened at $4.47 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26. The business’s 50 day moving average is $5.48 and its two-hundred day moving average is $6.96. The stock has a market capitalization of $558.53 million, a price-to-earnings ratio of -1.33 and a beta of 2.22. Sunnova Energy International has a 12-month low of $2.99 and a 12-month high of $16.35.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.45). Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The business had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $238.23 million. During the same quarter in the previous year, the company posted ($0.53) EPS. The company’s revenue was up 18.6% compared to the same quarter last year. Research analysts expect that Sunnova Energy International will post -2.44 EPS for the current year.

Insider Transactions at Sunnova Energy International

In other Sunnova Energy International news, Director Akbar Mohamed purchased 54,717 shares of Sunnova Energy International stock in a transaction on Friday, November 15th. The shares were purchased at an average cost of $3.80 per share, with a total value of $207,924.60. Following the completion of the transaction, the director now directly owns 302,654 shares in the company, valued at approximately $1,150,085.20. This represents a 22.07 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Eric Michael Williams acquired 13,800 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was acquired at an average cost of $3.60 per share, with a total value of $49,680.00. Following the transaction, the chief financial officer now directly owns 13,800 shares of the company’s stock, valued at approximately $49,680. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 118,517 shares of company stock worth $439,605 in the last ninety days. Insiders own 4.50% of the company’s stock.

Institutional Trading of Sunnova Energy International

Several large investors have recently bought and sold shares of the company. Presidio Capital Management LLC acquired a new position in shares of Sunnova Energy International in the second quarter worth about $67,000. nVerses Capital LLC raised its position in shares of Sunnova Energy International by 237.8% in the 2nd quarter. nVerses Capital LLC now owns 12,500 shares of the company’s stock valued at $70,000 after purchasing an additional 8,800 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Sunnova Energy International in the 2nd quarter valued at approximately $78,000. AE Wealth Management LLC purchased a new position in shares of Sunnova Energy International during the 2nd quarter valued at approximately $81,000. Finally, GAMMA Investing LLC grew its position in shares of Sunnova Energy International by 736.3% during the third quarter. GAMMA Investing LLC now owns 8,756 shares of the company’s stock worth $85,000 after buying an additional 7,709 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.