Sunnova Energy International (NYSE:NOVA) Rating Lowered to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Sunnova Energy International (NYSE:NOVA) from an overweight rating to a neutral rating in a research report released on Monday morning, Marketbeat.com reports.

Other equities analysts have also issued reports about the company. Robert W. Baird restated a “neutral” rating and set a $2.00 target price (down from $9.00) on shares of Sunnova Energy International in a report on Monday. Morgan Stanley dropped their price objective on Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Friday, November 15th. Royal Bank of Canada lowered Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a research note on Monday, December 9th. Guggenheim lowered Sunnova Energy International from a “buy” rating to a “neutral” rating in a research note on Thursday, November 7th. Finally, Piper Sandler dropped their price objective on Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating on the stock in a research note on Friday, November 22nd. Two analysts have rated the stock with a sell rating, twenty-three have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $5.39.

Sunnova Energy International Price Performance

NYSE NOVA opened at $0.55 on Monday. Sunnova Energy International has a fifty-two week low of $0.47 and a fifty-two week high of $13.00. The stock’s 50-day moving average is $2.70 and its two-hundred day moving average is $5.49. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $68.22 million, a P/E ratio of -0.16 and a beta of 2.64.

Sunnova Energy International (NYSE:NOVA) last posted its earnings results on Monday, March 3rd. The company reported ($2.96) earnings per share for the quarter, missing the consensus estimate of ($0.79) by ($2.17). Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The company had revenue of $224.13 million for the quarter, compared to the consensus estimate of $235.85 million. During the same quarter last year, the business earned $0.37 earnings per share. On average, analysts anticipate that Sunnova Energy International will post -2.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sunnova Energy International

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. First Trust Direct Indexing L.P. increased its stake in Sunnova Energy International by 11.6% in the third quarter. First Trust Direct Indexing L.P. now owns 19,373 shares of the company’s stock valued at $189,000 after purchasing an additional 2,016 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Sunnova Energy International by 37,400.0% during the third quarter. International Assets Investment Management LLC now owns 3,000 shares of the company’s stock worth $308,000 after acquiring an additional 2,992 shares in the last quarter. Peapack Gladstone Financial Corp increased its position in shares of Sunnova Energy International by 11.0% during the third quarter. Peapack Gladstone Financial Corp now owns 32,200 shares of the company’s stock worth $314,000 after acquiring an additional 3,200 shares in the last quarter. PFG Investments LLC increased its position in shares of Sunnova Energy International by 37.0% during the fourth quarter. PFG Investments LLC now owns 18,345 shares of the company’s stock worth $63,000 after acquiring an additional 4,955 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its position in shares of Sunnova Energy International by 38.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 20,490 shares of the company’s stock worth $70,000 after acquiring an additional 5,662 shares in 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.