Sunnova Energy International (NYSE:NOVA) Rating Lowered to “Underperform” at BNP Paribas

Sunnova Energy International (NYSE:NOVA) was downgraded by research analysts at BNP Paribas from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. They currently have a $3.50 price objective on the stock. BNP Paribas’ target price points to a potential downside of 3.98% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Piper Sandler increased their target price on shares of Sunnova Energy International from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Guggenheim downgraded Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Thursday. BMO Capital Markets reiterated a “market perform” rating and issued a $8.00 price target (down previously from $10.00) on shares of Sunnova Energy International in a report on Friday, November 1st. Susquehanna upped their price objective on shares of Sunnova Energy International from $12.00 to $14.00 and gave the stock a “positive” rating in a report on Friday, August 2nd. Finally, Citigroup cut their target price on shares of Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Sunnova Energy International presently has an average rating of “Moderate Buy” and an average price target of $11.23.

Sunnova Energy International Trading Up 6.6 %

NYSE NOVA opened at $3.65 on Friday. The stock has a 50-day moving average of $8.37 and a 200-day moving average of $6.92. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26. Sunnova Energy International has a 1-year low of $3.25 and a 1-year high of $16.35. The firm has a market cap of $455.44 million, a PE ratio of -1.09 and a beta of 2.26.

Sunnova Energy International (NYSE:NOVA) last issued its earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.45). Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The firm had revenue of $235.30 million during the quarter, compared to the consensus estimate of $238.23 million. During the same quarter in the prior year, the business posted ($0.53) EPS. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. As a group, sell-side analysts forecast that Sunnova Energy International will post -2.27 EPS for the current year.

Insider Transactions at Sunnova Energy International

In other Sunnova Energy International news, insider William J. Berger sold 77,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $11.31, for a total transaction of $870,870.00. Following the completion of the sale, the insider now directly owns 409,045 shares in the company, valued at approximately $4,626,298.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.50% of the company’s stock.

Institutional Trading of Sunnova Energy International

Several institutional investors have recently added to or reduced their stakes in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Sunnova Energy International by 56.7% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 14,142,487 shares of the company’s stock valued at $78,915,000 after purchasing an additional 5,118,552 shares in the last quarter. Vanguard Group Inc. raised its position in Sunnova Energy International by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 10,568,045 shares of the company’s stock worth $64,782,000 after buying an additional 81,653 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in Sunnova Energy International by 9.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock valued at $71,097,000 after acquiring an additional 611,452 shares during the period. Sylebra Capital LLC bought a new position in Sunnova Energy International during the 2nd quarter valued at about $30,783,000. Finally, Electron Capital Partners LLC boosted its holdings in shares of Sunnova Energy International by 24.5% during the 2nd quarter. Electron Capital Partners LLC now owns 3,004,938 shares of the company’s stock valued at $16,768,000 after acquiring an additional 591,514 shares during the last quarter.

Sunnova Energy International Company Profile

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.