Sunnova Energy International (NYSE:NOVA) PT Lowered to $10.00 at Morgan Stanley

Sunnova Energy International (NYSE:NOVA) had its price objective trimmed by Morgan Stanley from $14.00 to $10.00 in a report released on Friday, Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other research firms have also recently weighed in on NOVA. Susquehanna lowered their price target on shares of Sunnova Energy International from $20.00 to $12.00 and set a positive rating on the stock in a report on Friday, April 5th. Robert W. Baird lowered their price target on shares of Sunnova Energy International from $14.00 to $12.00 and set an outperform rating on the stock in a report on Friday, May 3rd. BMO Capital Markets lowered their price target on shares of Sunnova Energy International from $10.00 to $6.00 and set a market perform rating on the stock in a report on Friday, May 3rd. Mizuho lowered their price target on shares of Sunnova Energy International from $21.00 to $17.00 and set a buy rating on the stock in a report on Friday, April 19th. Finally, B. Riley lowered their price target on shares of Sunnova Energy International from $21.00 to $15.00 and set a buy rating on the stock in a report on Monday, April 22nd. Eight analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $15.73.

Sunnova Energy International Price Performance

Shares of NYSE NOVA opened at $5.33 on Friday. The firm has a market cap of $660.81 million, a PE ratio of -1.58 and a beta of 2.19. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 3.41. Sunnova Energy International has a 1-year low of $3.37 and a 1-year high of $24.56. The company has a fifty day moving average price of $4.51 and a 200 day moving average price of $8.04.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.57) EPS for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.22. Sunnova Energy International had a negative net margin of 56.52% and a negative return on equity of 12.10%. The company had revenue of $160.90 million during the quarter, compared to the consensus estimate of $193.78 million. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.70) EPS. Research analysts predict that Sunnova Energy International will post -1.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sunnova Energy International

Several large investors have recently modified their holdings of NOVA. Swiss National Bank raised its stake in shares of Sunnova Energy International by 2.0% during the third quarter. Swiss National Bank now owns 230,100 shares of the company’s stock valued at $2,409,000 after acquiring an additional 4,600 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Sunnova Energy International by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 780,177 shares of the company’s stock valued at $8,168,000 after acquiring an additional 31,010 shares during the last quarter. Rhumbline Advisers raised its stake in Sunnova Energy International by 1.8% during the third quarter. Rhumbline Advisers now owns 179,585 shares of the company’s stock worth $1,880,000 after buying an additional 3,144 shares during the last quarter. Wolverine Asset Management LLC raised its stake in Sunnova Energy International by 471.0% during the third quarter. Wolverine Asset Management LLC now owns 239,530 shares of the company’s stock worth $2,508,000 after buying an additional 197,579 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new position in Sunnova Energy International during the third quarter worth $593,000.

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.