Sunnova Energy International (NYSE:NOVA) Releases 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 the consensus estimate of ($0.79) by ($2.17), RTT News reports. The company had revenue of $224.13 million for the quarter, compared to the consensus estimate of $235.85 million. Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. During the same quarter in the previous year, the company posted $0.37 EPS.

Sunnova Energy International Stock Performance

Shares of NOVA traded down $0.11 during mid-day trading on Tuesday, hitting $0.49. 6,605,130 shares of the company’s stock were exchanged, compared to its average volume of 12,219,880. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26. Sunnova Energy International has a 52 week low of $0.47 and a 52 week high of $13.00. The stock’s 50-day simple moving average is $2.82 and its 200-day simple moving average is $5.58. The firm has a market cap of $60.60 million, a price-to-earnings ratio of -0.14 and a beta of 2.28.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company cut Sunnova Energy International from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $4.00 to $0.50 in a research note on Tuesday. Wolfe Research lowered shares of Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. The Goldman Sachs Group downgraded shares of Sunnova Energy International from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $10.00 to $1.00 in a research report on Tuesday. Susquehanna cut shares of Sunnova Energy International from a “positive” rating to a “neutral” rating and dropped their target price for the company from $14.00 to $4.50 in a report on Friday, January 10th. Finally, Capital One Financial downgraded shares of Sunnova Energy International from an “overweight” rating to an “equal weight” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.