Sunnova Energy International (NYSE:NOVA) Releases Earnings Results, Misses Expectations By $2.17 EPS

Sunnova Energy International (NYSE:NOVA) released its earnings results on Monday. The company reported ($2.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($2.17), RTT News reports. Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The company had revenue of $224.13 million during the quarter, compared to analysts’ expectations of $235.85 million. During the same period in the prior year, the company posted $0.37 earnings per share.

Sunnova Energy International Trading Down 65.9 %

Shares of NYSE:NOVA opened at $0.57 on Tuesday. The business’s fifty day simple moving average is $2.82 and its 200-day simple moving average is $5.58. Sunnova Energy International has a 12-month low of $0.48 and a 12-month high of $13.00. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26. The company has a market capitalization of $70.72 million, a PE ratio of -0.17 and a beta of 2.28.

Analysts Set New Price Targets

NOVA has been the subject of several research analyst reports. Morgan Stanley cut their price objective on Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating for the company in a report on Friday, November 15th. Barclays lowered their target price on shares of Sunnova Energy International from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Royal Bank of Canada downgraded Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a research report on Monday, December 9th. Wolfe Research downgraded Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company cut Sunnova Energy International from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $4.00 to $0.50 in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Sunnova Energy International has a consensus rating of “Hold” and a consensus target price of $7.78.

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.