Sunnova Energy International (NYSE:NOVA) Rating Lowered to “Neutral” at Mizuho

Mizuho lowered shares of Sunnova Energy International (NYSE:NOVA) from an outperform rating to a neutral rating in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. They currently have $1.00 price target on the stock, down from their previous price target of $11.00.

Several other research firms also recently issued reports on NOVA. Piper Sandler cut their price objective on Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating on the stock in a report on Friday, November 22nd. TD Cowen began coverage on Sunnova Energy International in a report on Thursday, December 19th. They issued a “hold” rating and a $5.00 price objective on the stock. Susquehanna downgraded Sunnova Energy International from a “positive” rating to a “neutral” rating and cut their price target for the stock from $14.00 to $4.50 in a report on Friday, January 10th. BNP Paribas lowered Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 price target on the stock. in a research report on Friday, November 8th. Finally, Jefferies Financial Group lowered Sunnova Energy International from a “buy” rating to a “hold” rating and reduced their price target for the company from $9.00 to $2.00 in a research report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Sunnova Energy International currently has a consensus rating of “Hold” and a consensus price target of $5.39.

Sunnova Energy International Price Performance

NYSE:NOVA opened at $0.50 on Wednesday. Sunnova Energy International has a 52 week low of $0.47 and a 52 week high of $13.00. 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 company has a market capitalization of $62.85 million, a P/E ratio of -0.15 and a beta of 2.64. The stock’s fifty day moving average is $2.63 and its two-hundred day moving average is $5.45.

Sunnova Energy International (NYSE:NOVA) last posted its earnings results on Monday, March 3rd. The company reported ($2.96) EPS 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 business had revenue of $224.13 million during the quarter, compared to analysts’ expectations of $235.85 million. During the same quarter in the prior year, the firm earned $0.37 EPS. Equities analysts expect that Sunnova Energy International will post -2.63 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Sylebra Capital LLC grew its stake in Sunnova Energy International by 125.6% during the 3rd quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock worth $121,195,000 after buying an additional 6,926,399 shares during the last quarter. Erste Asset Management GmbH purchased a new position in Sunnova Energy International during the 3rd quarter worth approximately $76,550,000. Invesco Ltd. grew its stake in shares of Sunnova Energy International by 55.2% in the 4th quarter. Invesco Ltd. now owns 6,082,399 shares of the company’s stock valued at $20,863,000 after purchasing an additional 2,162,379 shares during the last quarter. Amundi grew its stake in shares of Sunnova Energy International by 11.2% in the 4th quarter. Amundi now owns 4,385,286 shares of the company’s stock valued at $14,988,000 after purchasing an additional 441,232 shares during the last quarter. Finally, Electron Capital Partners LLC grew its stake in shares of Sunnova Energy International by 1.0% in the 4th quarter. Electron Capital Partners LLC now owns 3,447,218 shares of the company’s stock valued at $11,824,000 after purchasing an additional 35,233 shares during the last quarter.

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.