Sunnova Energy International (NYSE:NOVA) Price Target Cut to $1.00 by Analysts at Piper Sandler

Sunnova Energy International (NYSE:NOVA) had its target price decreased by analysts at Piper Sandler from $4.50 to $1.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 65.02% from the stock’s previous close.

A number of other brokerages have also weighed in on NOVA. Robert W. Baird reaffirmed a “neutral” rating and issued a $2.00 price target (down previously from $9.00) on shares of Sunnova Energy International in a research note on Monday. BNP Paribas cut Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 target price for the company. in a report on Friday, November 8th. Truist Financial downgraded Sunnova Energy International from a “buy” rating to a “hold” rating in a report on Monday. Capital One Financial cut Sunnova Energy International from an “overweight” rating to an “equal weight” rating in a research note on Monday. Finally, Guggenheim cut shares of Sunnova Energy International from a “buy” rating to a “neutral” rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Sunnova Energy International has a consensus rating of “Hold” and an average price target of $5.39.

Sunnova Energy International Trading Down 10.2 %

NOVA traded down $0.07 during mid-day trading on Wednesday, hitting $0.61. The stock had a trading volume of 6,780,855 shares, compared to its average volume of 13,342,495. The stock’s fifty day simple moving average is $2.76 and its 200-day simple moving average is $5.52. The firm has a market capitalization of $75.72 million, a price-to-earnings ratio of -0.18 and a beta of 2.28. Sunnova Energy International has a 1-year low of $0.47 and a 1-year high of $13.00. 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 (NYSE:NOVA) last posted its earnings results on Monday, March 3rd. The company reported ($2.96) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $224.13 million for the quarter, compared to the consensus estimate of $235.85 million. During the same quarter in the prior year, the firm posted $0.37 earnings per share. As a group, research analysts forecast that Sunnova Energy International will post -2.63 EPS for the current fiscal year.

Institutional Trading of Sunnova Energy International

Hedge funds and other institutional investors have recently bought and sold shares of the business. Erste Asset Management GmbH bought a new position in shares of Sunnova Energy International during the third quarter worth approximately $76,550,000. Sylebra Capital LLC grew its holdings 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 purchasing an additional 6,926,399 shares in the last quarter. CenterBook Partners LP bought a new position in shares of Sunnova Energy International in the fourth quarter worth $8,565,000. Invesco Ltd. raised its stake in Sunnova Energy International by 55.2% in the fourth 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 in the last quarter. Finally, Capital Fund Management S.A. lifted its position in Sunnova Energy International by 456.4% during the fourth quarter. Capital Fund Management S.A. now owns 1,737,569 shares of the company’s stock worth $5,960,000 after purchasing an additional 1,425,281 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.