Scotiabank Trims Sunnova Energy International (NYSE:NOVA) Target Price to $10.00

Sunnova Energy International (NYSE:NOVA) had its target price lowered by equities research analysts at Scotiabank from $20.00 to $10.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 135.85% from the company’s current price.

Other equities research analysts have also issued research reports about the company. KeyCorp lowered Sunnova Energy International from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, April 23rd. Evercore ISI lowered their price objective on Sunnova Energy International from $29.00 to $26.00 and set an “outperform” rating for the company in a research note on Friday, February 23rd. Mizuho lowered their price objective on Sunnova Energy International from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Janney Montgomery Scott upgraded Sunnova Energy International from a “neutral” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Friday, March 22nd. Finally, Northland Securities restated a “market perform” rating and set a $9.00 price objective (down previously from $12.00) on shares of Sunnova Energy International in a research note on Friday, February 23rd. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Sunnova Energy International has a consensus rating of “Moderate Buy” and an average target price of $18.14.

Sunnova Energy International Trading Up 6.0 %

NYSE:NOVA traded up $0.24 on Monday, hitting $4.24. 3,702,243 shares of the stock were exchanged, compared to its average volume of 8,994,967. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.58. Sunnova Energy International has a fifty-two week low of $3.52 and a fifty-two week high of $24.56. The stock has a market cap of $525.08 million, a PE ratio of -1.21 and a beta of 2.08. The stock has a fifty day moving average of $5.63 and a 200-day moving average of $9.31.

Sunnova Energy International (NYSE:NOVA) last posted its earnings results on Wednesday, February 21st. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.04. Sunnova Energy International had a negative return on equity of 13.26% and a negative net margin of 58.00%. The business had revenue of $194.18 million during the quarter, compared to analyst estimates of $226.09 million. As a group, equities analysts expect that Sunnova Energy International will post -2.37 earnings per share for the current fiscal year.

Insider Transactions at Sunnova Energy International

In other Sunnova Energy International news, Director Akbar Mohamed bought 152,450 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was acquired at an average price of $6.92 per share, with a total value of $1,054,954.00. Following the completion of the transaction, the director now directly owns 236,139 shares in the company, valued at approximately $1,634,081.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Akbar Mohamed acquired 152,450 shares of Sunnova Energy International stock in a transaction that occurred on Wednesday, February 28th. The stock was purchased at an average price of $6.92 per share, with a total value of $1,054,954.00. Following the completion of the transaction, the director now owns 236,139 shares in the company, valued at $1,634,081.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jack O. Lynch III sold 12,994 shares of Sunnova Energy International stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $6.21, for a total value of $80,692.74. The disclosure for this sale can be found here. Insiders sold a total of 23,580 shares of company stock valued at $137,382 over the last quarter. Company insiders own 4.50% of the company’s stock.

Institutional Trading of Sunnova Energy International

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Sunnova Energy International by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 10,486,392 shares of the company’s stock worth $159,917,000 after buying an additional 215,905 shares during the last quarter. Electron Capital Partners LLC increased its stake in shares of Sunnova Energy International by 42.9% in the third quarter. Electron Capital Partners LLC now owns 5,308,684 shares of the company’s stock worth $55,582,000 after purchasing an additional 1,593,098 shares during the period. Van ECK Associates Corp increased its stake in shares of Sunnova Energy International by 124.4% in the fourth quarter. Van ECK Associates Corp now owns 1,563,320 shares of the company’s stock worth $23,841,000 after purchasing an additional 866,705 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Sunnova Energy International by 57.6% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,324,957 shares of the company’s stock worth $13,872,000 after purchasing an additional 484,150 shares during the period. Finally, Guinness Asset Management LTD increased its stake in shares of Sunnova Energy International by 5.9% in the third quarter. Guinness Asset Management LTD now owns 1,240,355 shares of the company’s stock worth $12,981,000 after purchasing an additional 69,539 shares during the period.

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.