Sunnova Energy International (NYSE:NOVA) Downgraded by The Goldman Sachs Group

The Goldman Sachs Group lowered shares of Sunnova Energy International (NYSE:NOVAGet Rating) from a buy rating to a neutral rating in a report issued on Monday, MarketBeat Ratings reports. The Goldman Sachs Group currently has $24.00 target price on the stock, down from their previous target price of $31.00.

Several other analysts also recently issued reports on the stock. Raymond James lowered their price objective on shares of 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. Piper Sandler lowered their price objective on shares of Sunnova Energy International from $33.00 to $27.00 and set an overweight rating for the company in a research report on Tuesday, May 24th. Robert W. Baird decreased their price target on shares of Sunnova Energy International from $56.00 to $46.00 in a research report on Monday, February 28th. Northland Securities initiated coverage on shares of Sunnova Energy International in a research report on Wednesday, May 18th. They set an outperform rating and a $30.00 price target for the company. Finally, B. Riley decreased their price target on shares of Sunnova Energy International from $29.00 to $26.00 in a research report on Friday, April 29th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Sunnova Energy International currently has an average rating of Buy and a consensus price target of $41.86.

NYSE NOVA opened at $19.23 on Monday. Sunnova Energy International has a one year low of $12.47 and a one year high of $46.40. The company’s 50 day moving average price is $18.42 and its 200 day moving average price is $21.51. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.63 and a current ratio of 1.63. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of -15.38 and a beta of 2.27.

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

A number of institutional investors have recently added to or reduced their stakes in the business. Walleye Capital LLC acquired a new position in Sunnova Energy International in the first quarter worth $1,147,000. Advisors Asset Management Inc. boosted its holdings in Sunnova Energy International by 58.3% in the first quarter. Advisors Asset Management Inc. now owns 21,620 shares of the company’s stock worth $499,000 after purchasing an additional 7,960 shares during the period. Polarity Investment Partners LP acquired a new position in Sunnova Energy International in the first quarter worth $1,039,000. Summit Partners Public Asset Management LLC boosted its holdings in Sunnova Energy International by 8,193.0% in the first quarter. Summit Partners Public Asset Management LLC now owns 1,717,822 shares of the company’s stock worth $39,613,000 after purchasing an additional 1,697,108 shares during the period. Finally, Sagefield Capital LP boosted its holdings in Sunnova Energy International by 118.2% in the first quarter. Sagefield Capital LP now owns 8,040 shares of the company’s stock worth $185,000 after purchasing an additional 4,355 shares during the period.

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.

Recommended Stories

Analyst Recommendations for Sunnova Energy International (NYSE:NOVA)

Receive News & Ratings for Sunnova Energy International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sunnova Energy International and related companies with MarketBeat.com's FREE daily email newsletter.