Sunnova Energy International (NYSE:NOVA) Lowered to “Neutral” Rating by Guggenheim

Guggenheim downgraded shares of Sunnova Energy International (NYSE:NOVA) from a buy rating to a neutral rating in a research note published on Thursday morning, Marketbeat reports.

Other research analysts have also issued research reports about the company. Scotiabank increased their target price on Sunnova Energy International from $10.00 to $14.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 6th. Barclays reduced their target price on Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Robert W. Baird dropped their price target on Sunnova Energy International from $18.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft decreased their price target on Sunnova Energy International from $9.00 to $6.25 and set a “hold” rating on the stock in a report on Friday, November 1st. Finally, Citigroup reduced their target price on Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.23.

Sunnova Energy International Stock Performance

Shares of NYSE NOVA traded down $0.58 during trading on Thursday, reaching $3.07. 11,301,826 shares of the stock traded hands, compared to its average volume of 8,089,416. Sunnova Energy International has a 52-week low of $2.99 and a 52-week high of $16.35. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86. The company has a 50-day moving average of $8.23 and a 200-day moving average of $6.90. The stock has a market capitalization of $383.60 million, a P/E ratio of -0.95 and a beta of 2.26.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.45). Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The company had revenue of $235.30 million for the quarter, compared to the consensus estimate of $238.23 million. During the same quarter in the previous year, the firm posted ($0.53) earnings per share. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. Analysts forecast that Sunnova Energy International will post -2.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other Sunnova Energy International news, insider William J. Berger sold 77,000 shares of Sunnova Energy International stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $11.31, for a total value of $870,870.00. Following the transaction, the insider now directly owns 409,045 shares of the company’s stock, valued at $4,626,298.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.50% of the stock is owned by corporate insiders.

Institutional Trading of Sunnova Energy International

A number of hedge funds and other institutional investors have recently bought and sold shares of NOVA. Quest Partners LLC lifted its stake in shares of Sunnova Energy International by 101,695.5% during the 3rd quarter. Quest Partners LLC now owns 67,185 shares of the company’s stock worth $654,000 after acquiring an additional 67,119 shares during the last quarter. Mizuho Markets Americas LLC boosted its position in shares of Sunnova Energy International by 53.7% in the 3rd quarter. Mizuho Markets Americas LLC now owns 282,805 shares of the company’s stock worth $2,755,000 after purchasing an additional 98,800 shares in the last quarter. GSA Capital Partners LLP lifted its position in Sunnova Energy International by 28.4% during the 3rd quarter. GSA Capital Partners LLP now owns 130,741 shares of the company’s stock worth $1,273,000 after acquiring an additional 28,931 shares during the period. First Trust Direct Indexing L.P. lifted its position in Sunnova Energy International by 11.6% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 19,373 shares of the company’s stock worth $189,000 after acquiring an additional 2,016 shares during the period. Finally, PFG Investments LLC acquired a new position in shares of Sunnova Energy International in the 3rd quarter valued at about $130,000.

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.