Sunnova Energy International (NYSE:NOVA) Rating Lowered to Hold at Baird R W

Sunnova Energy International (NYSE:NOVA) was downgraded by stock analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. Capital One Financial downgraded Sunnova Energy International from an “overweight” rating to an “equal weight” rating in a research report on Monday. Robert W. Baird restated a “neutral” rating and issued a $2.00 target price (down previously from $9.00) on shares of Sunnova Energy International in a research report on Monday. JPMorgan Chase & Co. downgraded Sunnova Energy International from an “overweight” rating to a “neutral” rating in a research report on Monday. Guggenheim downgraded Sunnova Energy International from a “buy” rating to a “neutral” rating in a research report on Thursday, November 7th. Finally, BNP Paribas downgraded Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 target price on the stock. in a research report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $6.59.

Sunnova Energy International Stock Performance

Shares of Sunnova Energy International stock opened at $0.67 on Monday. Sunnova Energy International has a one year low of $0.47 and a one year high of $13.00. The company has a market cap of $83.84 million, a price-to-earnings ratio of -0.20 and a beta of 2.28. 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 business’s 50 day moving average price is $2.76 and its 200 day moving average price is $5.52.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings data 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 return on equity of 11.15% and a negative net margin of 51.02%. The company had revenue of $224.13 million for the quarter, compared to analysts’ expectations of $235.85 million. During the same quarter in the previous year, the business posted $0.37 EPS. On average, research analysts predict that Sunnova Energy International will post -2.63 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Sylebra Capital LLC boosted its position in shares of 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 acquiring an additional 6,926,399 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Sunnova Energy International in the 3rd quarter valued at about $76,550,000. Invesco Ltd. boosted its position 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 period. Amundi boosted its position 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 period. Finally, Electron Capital Partners LLC boosted its position 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 period.

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.