The Goldman Sachs Group Cuts Sunnova Energy International (NYSE:NOVA) Price Target to $0.50

Sunnova Energy International (NYSE:NOVA) had its price target reduced by investment analysts at The Goldman Sachs Group from $1.00 to $0.50 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 43.31% from the stock’s current price.

NOVA has been the subject of several other research reports. Roth Capital lowered Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. TD Cowen initiated coverage on Sunnova Energy International in a research note on Thursday, December 19th. They set a “hold” rating and a $5.00 price target for the company. BMO Capital Markets lowered their price objective on shares of Sunnova Energy International from $4.00 to $0.85 and set a “market perform” rating on the stock in a research note on Tuesday, March 4th. Capital One Financial lowered shares of Sunnova Energy International from an “overweight” rating to an “equal weight” rating in a research report on Monday, March 3rd. Finally, Wells Fargo & Company downgraded shares of Sunnova Energy International from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $4.00 to $0.50 in a research report on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Sunnova Energy International currently has an average rating of “Hold” and an average price target of $5.37.

Sunnova Energy International Stock Performance

NOVA traded up $0.02 during midday trading on Wednesday, hitting $0.35. 14,263,790 shares of the company traded hands, compared to its average volume of 10,930,870. The company’s 50-day moving average is $1.48 and its 200 day moving average is $4.07. 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 firm has a market capitalization of $43.64 million, a PE ratio of -0.10 and a beta of 2.64. Sunnova Energy International has a 52 week low of $0.25 and a 52 week high of $13.00.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($2.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.79) by ($2.17). Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The company had revenue of $224.13 million for the quarter, compared to the consensus estimate of $235.85 million. During the same quarter last year, the company earned $0.37 EPS. On average, research analysts expect that Sunnova Energy International will post -2.63 EPS for the current year.

Institutional Trading of Sunnova Energy International

Several hedge funds have recently bought and sold shares of the stock. Sylebra Capital LLC increased its holdings in shares of Sunnova Energy International by 125.6% in the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock worth $121,195,000 after purchasing an additional 6,926,399 shares during the last quarter. CenterBook Partners LP purchased a new position in Sunnova Energy International during the 4th quarter valued at approximately $8,565,000. Invesco Ltd. increased its stake in 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 acquiring an additional 2,162,379 shares during the last quarter. Capital Fund Management S.A. raised its holdings in shares of Sunnova Energy International by 456.4% during the 4th quarter. Capital Fund Management S.A. now owns 1,737,569 shares of the company’s stock worth $5,960,000 after acquiring an additional 1,425,281 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new position in shares of Sunnova Energy International during the 4th quarter valued at approximately $3,879,000.

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.