Sunnova Energy International (NYSE:NOVA) Shares Down 3%

Sunnova Energy International Inc. (NYSE:NOVA)’s stock price was down 3% during mid-day trading on Monday . The stock traded as low as $5.36 and last traded at $5.41. Approximately 623,671 shares traded hands during trading, a decline of 93% from the average daily volume of 8,519,095 shares. The stock had previously closed at $5.58.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NOVA. Mizuho lowered their price objective on Sunnova Energy International from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. The Goldman Sachs Group reduced their target price on Sunnova Energy International from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, April 11th. Wells Fargo & Company reissued an “equal weight” rating and issued a $6.00 target price (down previously from $11.00) on shares of Sunnova Energy International in a research note on Friday, April 19th. Scotiabank reduced their target price on Sunnova Energy International from $20.00 to $10.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 29th. Finally, Morgan Stanley reduced their target price on Sunnova Energy International from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Friday, June 14th. Eight analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.73.

Sunnova Energy International Stock Down 2.7 %

The company’s fifty day moving average price is $4.80 and its 200-day moving average price is $7.62. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 3.41.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.57) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.22. Sunnova Energy International had a negative net margin of 56.52% and a negative return on equity of 12.10%. The company had revenue of $160.90 million during the quarter, compared to analyst estimates of $193.78 million. During the same period in the previous year, the business earned ($0.70) EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Sell-side analysts predict that Sunnova Energy International Inc. will post -1.85 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NOVA. Westwood Holdings Group Inc. lifted its holdings in shares of Sunnova Energy International by 3,168.8% in the 1st quarter. Westwood Holdings Group Inc. now owns 574,127 shares of the company’s stock valued at $3,519,000 after acquiring an additional 556,563 shares during the last quarter. Swedbank AB bought a new position in shares of Sunnova Energy International in the 1st quarter valued at about $2,086,000. Yaupon Capital Management LP lifted its holdings in shares of Sunnova Energy International by 7.4% in the 1st quarter. Yaupon Capital Management LP now owns 299,392 shares of the company’s stock valued at $1,835,000 after acquiring an additional 20,725 shares during the last quarter. Tidal Investments LLC bought a new position in shares of Sunnova Energy International in the 1st quarter valued at about $291,000. Finally, Caxton Associates LP bought a new position in shares of Sunnova Energy International in the 1st quarter valued at about $62,000.

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.