Sunnova Energy International (NYSE:NOVA) Releases Quarterly Earnings Results, Misses Expectations By $2.17 EPS

Sunnova Energy International (NYSE:NOVA) released its earnings results on Monday. The company reported ($2.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($2.17), RTT News reports. The company had revenue of $224.13 million for the quarter, compared to analyst estimates of $235.85 million. Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. During the same quarter in the previous year, the firm earned $0.37 EPS.

Sunnova Energy International Stock Down 65.9 %

NYSE:NOVA opened at $0.57 on Tuesday. The firm’s 50-day moving average price is $2.82 and its 200-day moving average price is $5.58. The company has a market capitalization of $70.72 million, a PE ratio of -0.17 and a beta of 2.28. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86. Sunnova Energy International has a 1-year low of $0.48 and a 1-year high of $13.00.

Analyst Ratings Changes

Several analysts have recently commented on NOVA shares. Jefferies Financial Group downgraded Sunnova Energy International from a “buy” rating to a “hold” rating and reduced their target price for the company from $9.00 to $2.00 in a research note on Friday, February 7th. Royal Bank of Canada downgraded Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a research note on Monday, December 9th. UBS Group downgraded Sunnova Energy International from a “buy” rating to a “neutral” rating and cut their price target for the company from $5.00 to $0.65 in a research note on Tuesday. Barclays cut their price target on shares of Sunnova Energy International from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Finally, Guggenheim cut Sunnova Energy International from a “buy” rating to a “neutral” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $7.78.

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.