Royal Bank of Canada Lowers Sunnova Energy International (NYSE:NOVA) Price Target to $0.75

Sunnova Energy International (NYSE:NOVA) had its price target trimmed by Royal Bank of Canada from $5.00 to $0.75 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a sector perform rating on the stock.

A number of other brokerages have also recently commented on NOVA. JPMorgan Chase & Co. cut Sunnova Energy International from an “overweight” rating to a “neutral” rating in a research note on Monday. Wolfe Research cut Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. The Goldman Sachs Group cut Sunnova Energy International from a “buy” rating to a “neutral” rating and lowered their price target for the company from $10.00 to $1.00 in a research note on Tuesday. Wells Fargo & Company cut Sunnova Energy International from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $4.00 to $0.50 in a research note on Tuesday. Finally, Roth Mkm cut Sunnova Energy International from a “buy” rating to a “neutral” rating in a research note on Monday. Two analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.39.

Sunnova Energy International Stock Performance

Sunnova Energy International stock opened at $0.52 on Tuesday. 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 $0.47 and a 1 year high of $13.00. The company has a market cap of $64.85 million, a PE ratio of -0.15 and a beta of 2.64. The company’s 50-day moving average is $2.63 and its two-hundred day moving average is $5.45.

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

Hedge Funds Weigh In On Sunnova Energy International

A number of large investors have recently bought and sold shares of NOVA. Cibc World Markets Corp acquired a new position in Sunnova Energy International during the 4th quarter worth approximately $35,000. Crux Wealth Advisors acquired a new stake in shares of Sunnova Energy International in the 4th quarter valued at approximately $35,000. Two Sigma Advisers LP acquired a new stake in shares of Sunnova Energy International in the 4th quarter valued at approximately $35,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Sunnova Energy International in the 4th quarter valued at approximately $40,000. Finally, Teza Capital Management LLC acquired a new stake in shares of Sunnova Energy International in the 4th quarter valued at approximately $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.