Sunnova Energy International (NYSE:NOVA) Lowered to “Underweight” Rating by Wells Fargo & Company

Sunnova Energy International (NYSE:NOVA) was downgraded by investment analysts at Wells Fargo & Company from an “equal weight” rating to an “underweight” rating in a report issued on Tuesday, Marketbeat.com reports. They currently have a $0.50 price objective on the stock, down from their previous price objective of $4.00. Wells Fargo & Company‘s target price points to a potential downside of 16.44% from the company’s current price.

Other analysts have also issued reports about the stock. Capital One Financial lowered shares of Sunnova Energy International from an “overweight” rating to an “equal weight” rating in a research note on Monday. Truist Financial downgraded shares of Sunnova Energy International from a “buy” rating to a “hold” rating in a research note on Monday. Morgan Stanley decreased their price target on shares of Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating for the company in a research report on Friday, November 15th. The Goldman Sachs Group cut their price objective on Sunnova Energy International from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, December 17th. Finally, BNP Paribas lowered Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 target price for the company. in a report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sunnova Energy International has a consensus rating of “Hold” and a consensus price target of $7.78.

Sunnova Energy International Trading Down 64.0 %

Shares of NYSE NOVA opened at $0.60 on Tuesday. The stock has a fifty day simple moving average of $2.82 and a 200-day simple moving average of $5.58. Sunnova Energy International has a twelve month low of $0.48 and a twelve 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 stock has a market capitalization of $74.77 million, a PE ratio of -0.18 and a beta of 2.28.

Institutional Trading of Sunnova Energy International

Several institutional investors and hedge funds have recently made changes to their positions in the company. DRW Securities LLC acquired a new position in Sunnova Energy International during the third quarter worth approximately $989,000. Erste Asset Management GmbH purchased a new position in shares of Sunnova Energy International during the third quarter worth approximately $76,550,000. Stratos Wealth Partners LTD. acquired a new position in shares of Sunnova Energy International in the 4th quarter valued at $114,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Sunnova Energy International by 190.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 744,686 shares of the company’s stock valued at $7,253,000 after acquiring an additional 488,623 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Sunnova Energy International by 17.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 901,433 shares of the company’s stock valued at $8,780,000 after purchasing an additional 134,065 shares during 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.