BMO Capital Markets Cuts Sunnova Energy International (NYSE:NOVA) Price Target to $0.85

Sunnova Energy International (NYSE:NOVA) had its price objective decreased by BMO Capital Markets from $4.00 to $0.85 in a research note published on Tuesday,Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

Other equities research analysts have also issued research reports about the stock. Capital One Financial lowered shares of Sunnova Energy International from an “overweight” rating to an “equal weight” rating in a report on Monday. Susquehanna downgraded shares of Sunnova Energy International from a “positive” rating to a “neutral” rating and decreased their price target for the company from $14.00 to $4.50 in a research note on Friday, January 10th. Morgan Stanley dropped their price objective on Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Friday, November 15th. Barclays decreased their target price on Sunnova Energy International from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Finally, Piper Sandler dropped their price target on Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating on the stock in a research report on Friday, November 22nd. Two analysts have rated the stock with a sell rating, twenty-three have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $5.39.

Sunnova Energy International Trading Down 6.3 %

Shares of NYSE NOVA opened at $0.52 on Tuesday. Sunnova Energy International has a fifty-two week low of $0.47 and a fifty-two week high of $13.00. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $64.85 million, a price-to-earnings ratio of -0.15 and a beta of 2.64. The business’s 50 day moving average price is $2.63 and its 200-day moving average price is $5.45.

Sunnova Energy International (NYSE:NOVA) last released its earnings results 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 return on equity of 11.15% and a negative net margin of 51.02%. The business had revenue of $224.13 million during the quarter, compared to analysts’ expectations of $235.85 million. During the same quarter in the previous year, the business earned $0.37 EPS. On average, sell-side analysts expect that Sunnova Energy International will post -2.63 earnings per share for the current year.

Institutional Trading of Sunnova Energy International

A number of institutional investors have recently bought and sold shares of NOVA. DRW Securities LLC acquired a new position in Sunnova Energy International during the 3rd quarter valued at approximately $989,000. Erste Asset Management GmbH acquired a new position in shares of Sunnova Energy International in the 3rd quarter valued at $76,550,000. Stratos Wealth Partners LTD. purchased a new position in Sunnova Energy International in the 4th quarter worth $114,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Sunnova Energy International by 190.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 744,686 shares of the company’s stock worth $7,253,000 after acquiring an additional 488,623 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Sunnova Energy International by 17.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 901,433 shares of the company’s stock worth $8,780,000 after acquiring an additional 134,065 shares during the period.

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.