BNP Paribas Downgrades Sunnova Energy International (NYSE:NOVA) to Underperform

Sunnova Energy International (NYSE:NOVA) was downgraded by equities research analysts at BNP Paribas from a “neutral” rating to an “underperform” rating in a report released on Friday, MarketBeat.com reports. They presently have a $3.50 price objective on the stock. BNP Paribas’ price objective indicates a potential downside of 3.98% from the company’s current price.

Several other analysts have also issued reports on the stock. Susquehanna boosted their target price on shares of Sunnova Energy International from $12.00 to $14.00 and gave the company a “positive” rating in a research report on Friday, August 2nd. Jefferies Financial Group initiated coverage on shares of Sunnova Energy International in a research note on Thursday, October 10th. They set a “buy” rating and a $15.00 price target on the stock. Morgan Stanley upped their price objective on Sunnova Energy International from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 21st. Wells Fargo & Company lifted their target price on Sunnova Energy International from $6.00 to $9.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada boosted their price target on Sunnova Energy International from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Sunnova Energy International presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.23.

Sunnova Energy International Stock Performance

Shares of NOVA opened at $3.65 on Friday. The firm has a market capitalization of $455.44 million, a P/E ratio of -1.09 and a beta of 2.26. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86. Sunnova Energy International has a one year low of $3.25 and a one year high of $16.35. The business has a fifty day moving average of $8.37 and a 200 day moving average of $6.92.

Sunnova Energy International (NYSE:NOVA) last announced 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 analysts’ expectations of $238.23 million. During the same period in the previous year, the business posted ($0.53) earnings per share. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. As a group, sell-side analysts anticipate 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 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 transaction, the insider now owns 409,045 shares of the company’s stock, valued at $4,626,298.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Sunnova Energy International by 56.7% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 14,142,487 shares of the company’s stock worth $78,915,000 after purchasing an additional 5,118,552 shares during the last quarter. Vanguard Group Inc. lifted its position in Sunnova Energy International by 0.8% during the first quarter. Vanguard Group Inc. now owns 10,568,045 shares of the company’s stock valued at $64,782,000 after purchasing an additional 81,653 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of Sunnova Energy International by 9.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock worth $71,097,000 after buying an additional 611,452 shares in the last quarter. Sylebra Capital LLC bought a new stake in shares of Sunnova Energy International in the 2nd quarter worth about $30,783,000. Finally, Electron Capital Partners LLC raised its position 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 buying an additional 591,514 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.