JPMorgan Chase & Co. Downgrades Sunnova Energy International (NYSE:NOVA) to Neutral

Sunnova Energy International (NYSE:NOVA) was downgraded by JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report issued on Monday, MarketBeat Ratings reports.

Several other equities research analysts also recently weighed in on the stock. The Goldman Sachs Group decreased their price target on shares of Sunnova Energy International from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, December 17th. Capital One Financial lowered Sunnova Energy International from an “overweight” rating to an “equal weight” rating in a research report on Monday. Piper Sandler cut their price target on Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating on the stock in a report on Friday, November 22nd. BNP Paribas lowered 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. Finally, Royal Bank of Canada downgraded shares of Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a research report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Sunnova Energy International currently has an average rating of “Hold” and a consensus price target of $6.59.

Sunnova Energy International Stock Up 13.1 %

Shares of Sunnova Energy International stock opened at $0.67 on Monday. The stock’s 50-day moving average is $2.76 and its 200 day moving average is $5.52. Sunnova Energy International has a one year low of $0.47 and a one year high of $13.00. The firm 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 current ratio of 0.86 and a quick ratio of 0.86.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings results on Monday, March 3rd. The company reported ($2.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($2.17). The business 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 earnings per share. Equities research analysts anticipate that Sunnova Energy International will post -2.63 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NOVA. Cibc World Markets Corp purchased a new stake in shares of Sunnova Energy International during the 4th quarter valued at $35,000. Crux Wealth Advisors purchased a new stake in Sunnova Energy International during the fourth quarter worth about $35,000. Two Sigma Advisers LP bought a new stake in Sunnova Energy International in the fourth quarter worth about $35,000. Integrated Wealth Concepts LLC bought a new stake in Sunnova Energy International in the fourth quarter worth about $40,000. Finally, Teza Capital Management LLC purchased a new position in Sunnova Energy International in the fourth quarter valued at about $48,000.

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.