Barclays Lowers Sunnova Energy International (NYSE:NOVA) Price Target to $12.00

Sunnova Energy International (NYSE:NOVA) had its price target lowered by Barclays from $18.00 to $12.00 in a research note released on Tuesday, Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other brokerages also recently commented on NOVA. BMO Capital Markets cut their target price on shares of Sunnova Energy International from $10.00 to $6.00 and set a market perform rating on the stock in a research note on Friday, May 3rd. Piper Sandler downgraded shares of Sunnova Energy International from an overweight rating to a neutral rating and dropped their price target for the stock from $9.00 to $4.50 in a research note on Tuesday, May 21st. Morgan Stanley dropped their price target on shares of Sunnova Energy International from $14.00 to $10.00 and set an equal weight rating on the stock in a research note on Friday, June 14th. Susquehanna lifted their price target on shares of Sunnova Energy International from $10.00 to $12.00 and gave the stock a positive rating in a research note on Monday, July 15th. Finally, Evercore ISI dropped their price target on shares of Sunnova Energy International from $26.00 to $17.00 and set an outperform rating on the stock in a research note on Friday, May 3rd. Eight equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Sunnova Energy International presently has an average rating of Moderate Buy and a consensus price target of $15.04.

Sunnova Energy International Stock Performance

NYSE:NOVA opened at $8.04 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 3.41. The company has a market cap of $996.80 million, a P/E ratio of -2.39 and a beta of 2.19. Sunnova Energy International has a fifty-two week low of $3.37 and a fifty-two week high of $19.56. The firm’s 50 day moving average is $5.79 and its two-hundred day moving average is $6.62.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.57) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.22. The company had revenue of $160.90 million for the quarter, compared to the consensus estimate of $193.78 million. Sunnova Energy International had a negative net margin of 56.52% and a negative return on equity of 12.10%. Sunnova Energy International’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.70) earnings per share. Analysts expect that Sunnova Energy International will post -1.89 EPS for the current year.

Hedge Funds Weigh In On Sunnova Energy International

A number of hedge funds and other institutional investors have recently bought and sold shares of NOVA. Vanguard Group Inc. raised its holdings in shares of Sunnova Energy International by 0.8% during the first quarter. Vanguard Group Inc. now owns 10,568,045 shares of the company’s stock valued at $64,782,000 after buying an additional 81,653 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Sunnova Energy International by 124.4% during the fourth quarter. Van ECK Associates Corp now owns 1,563,320 shares of the company’s stock valued at $23,841,000 after buying an additional 866,705 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Sunnova Energy International by 7.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 842,130 shares of the company’s stock valued at $12,842,000 after buying an additional 61,953 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of Sunnova Energy International by 3,168.8% during the first quarter. Westwood Holdings Group Inc. now owns 574,127 shares of the company’s stock valued at $3,519,000 after buying an additional 556,563 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of Sunnova Energy International during the fourth quarter valued at approximately $6,930,000.

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.