Sunnova Energy International (NYSE:NOVA – Get Rating) was downgraded by equities research analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a report released on Monday, The Fly reports.
A number of other analysts also recently issued reports on NOVA. Raymond James dropped their price target on Sunnova Energy International from $50.00 to $32.00 and set a “strong-buy” rating for the company in a research report on Thursday, February 24th. Robert W. Baird dropped their target price on Sunnova Energy International from $56.00 to $46.00 in a research report on Monday, February 28th. B. Riley lowered their price objective on Sunnova Energy International from $29.00 to $26.00 in a research report on Friday, April 29th. Piper Sandler lowered their price objective on Sunnova Energy International from $33.00 to $27.00 and set an “overweight” rating for the company in a research report on Tuesday, May 24th. Finally, Northland Securities assumed coverage on Sunnova Energy International in a research report on Wednesday, May 18th. They issued an “outperform” rating and a $30.00 price objective for the company. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $43.23.
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NOVA traded up $2.21 during trading hours on Monday, hitting $19.76. The stock had a trading volume of 144,138 shares, compared to its average volume of 3,017,046. The company’s fifty day simple moving average is $18.50 and its 200 day simple moving average is $21.54. Sunnova Energy International has a 1 year low of $12.47 and a 1 year high of $46.40. The stock has a market cap of $2.27 billion, a PE ratio of -15.81 and a beta of 2.27. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 2.30.
Sunnova Energy International (NYSE:NOVA – Get Rating) last posted its earnings results on Wednesday, April 27th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.08. The business had revenue of $65.72 million during the quarter, compared to analyst estimates of $65.18 million. Sunnova Energy International had a negative return on equity of 9.95% and a negative net margin of 52.12%. During the same quarter in the previous year, the firm earned ($0.31) EPS. As a group, equities analysts expect that Sunnova Energy International will post -1.18 EPS for the current year.
Hedge funds have recently bought and sold shares of the business. Man Group plc lifted its holdings in Sunnova Energy International by 163.1% in the third quarter. Man Group plc now owns 124,055 shares of the company’s stock valued at $4,086,000 after acquiring an additional 76,900 shares during the period. Alliancebernstein L.P. lifted its holdings in Sunnova Energy International by 7.4% in the fourth quarter. Alliancebernstein L.P. now owns 807,490 shares of the company’s stock valued at $22,545,000 after acquiring an additional 55,575 shares during the period. First Republic Investment Management Inc. increased its position in Sunnova Energy International by 55.9% in the fourth quarter. First Republic Investment Management Inc. now owns 12,136 shares of the company’s stock worth $339,000 after buying an additional 4,351 shares in the last quarter. AGF Investments Inc. increased its position in Sunnova Energy International by 44.4% in the fourth quarter. AGF Investments Inc. now owns 325,000 shares of the company’s stock worth $9,074,000 after buying an additional 100,000 shares in the last quarter. Finally, Raymond James & Associates increased its position in Sunnova Energy International by 15.9% in the fourth quarter. Raymond James & Associates now owns 14,659 shares of the company’s stock worth $409,000 after buying an additional 2,010 shares in the last quarter.
About Sunnova Energy International (Get Rating)
Sunnova Energy International Inc provides residential energy services 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 diagnostics services. As of December 31, 2021, it operated a fleet of residential solar energy systems with a generation capacity of approximately 1,140 megawatts serving over 195,000 customers.
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