Sunnova Energy International (NYSE:NOVA) Stock Rating Lowered by The Goldman Sachs Group

Sunnova Energy International (NYSE:NOVAGet Rating) was downgraded by investment analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, The Fly reports.

A number of other equities research analysts have also issued reports on the company. Raymond James dropped their price target on Sunnova Energy International from $50.00 to $32.00 and set a “strong-buy” rating for the company in a research report on Thursday, February 24th. Northland Securities began coverage on Sunnova Energy International in a research report on Wednesday, May 18th. They issued an “outperform” rating and a $30.00 price target for the company. B. Riley dropped their price target on Sunnova Energy International from $29.00 to $26.00 in a research report on Friday, April 29th. Robert W. Baird dropped their price target on Sunnova Energy International from $56.00 to $46.00 in a research report on Monday, February 28th. Finally, Piper Sandler decreased their price objective on Sunnova Energy International from $33.00 to $27.00 and set an “overweight” rating on the stock in a report on Tuesday, May 24th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Sunnova Energy International presently has an average rating of “Buy” and an average price target of $43.23.

NYSE:NOVA traded up $2.21 during trading hours on Monday, hitting $19.76. 144,138 shares of the stock were exchanged, compared to its average volume of 3,017,046. Sunnova Energy International has a 52-week low of $12.47 and a 52-week high of $46.40. The firm’s fifty day moving average price is $18.50 and its 200 day moving average price is $21.54. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 2.30. The company has a market cap of $2.27 billion, a P/E ratio of -15.81 and a beta of 2.27.

Sunnova Energy International (NYSE:NOVAGet Rating) last posted its quarterly earnings results on Wednesday, April 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.08. The business had revenue of $65.72 million during the quarter, compared to analyst estimates of $65.18 million. Sunnova Energy International had a negative return on equity of 9.95% and a negative net margin of 52.12%. During the same period in the prior year, the business earned ($0.31) earnings per share. Equities analysts expect that Sunnova Energy International will post -1.18 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in NOVA. Voya Investment Management LLC raised its stake in shares of Sunnova Energy International by 1.5% in the third quarter. Voya Investment Management LLC now owns 34,098 shares of the company’s stock valued at $1,123,000 after acquiring an additional 491 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Sunnova Energy International by 30.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,600 shares of the company’s stock valued at $51,000 after acquiring an additional 600 shares in the last quarter. Ensign Peak Advisors Inc raised its stake in shares of Sunnova Energy International by 3.4% in the first quarter. Ensign Peak Advisors Inc now owns 21,510 shares of the company’s stock valued at $496,000 after acquiring an additional 710 shares in the last quarter. ETF Managers Group LLC raised its stake in shares of Sunnova Energy International by 5.0% in the fourth quarter. ETF Managers Group LLC now owns 16,737 shares of the company’s stock valued at $460,000 after acquiring an additional 795 shares in the last quarter. Finally, Advisor Group Holdings Inc. raised its stake in shares of Sunnova Energy International by 23.4% in the first quarter. Advisor Group Holdings Inc. now owns 4,788 shares of the company’s stock valued at $387,000 after acquiring an additional 907 shares in the last quarter.

About Sunnova Energy International (Get Rating)

Sunnova Energy International Inc provides residential energy services 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 diagnostics services. As of December 31, 2021, it operated a fleet of residential solar energy systems with a generation capacity of approximately 1,140 megawatts serving over 195,000 customers.

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