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

Sunnova Energy International (NYSE:NOVA) had its target price cut by equities researchers at Scotiabank from $20.00 to $10.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 137.81% from the stock’s previous close.

A number of other brokerages also recently commented on NOVA. KeyCorp downgraded shares of Sunnova Energy International from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, April 23rd. Susquehanna cut their target price on shares of Sunnova Energy International from $20.00 to $12.00 and set a “positive” rating for the company in a research note on Friday, April 5th. Morgan Stanley restated an “equal weight” rating and issued a $14.00 price objective (down previously from $24.00) on shares of Sunnova Energy International in a research note on Monday, March 4th. Janney Montgomery Scott raised shares of Sunnova Energy International from a “neutral” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Friday, March 22nd. Finally, Evercore ISI lowered their price objective on shares of Sunnova Energy International from $29.00 to $26.00 and set an “outperform” rating for the company in a research report on Friday, February 23rd. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Sunnova Energy International presently has an average rating of “Moderate Buy” and a consensus price target of $17.86.

Sunnova Energy International Trading Down 3.1 %

Sunnova Energy International stock opened at $4.21 on Monday. Sunnova Energy International has a 52-week low of $3.52 and a 52-week high of $24.56. The firm has a market capitalization of $520.75 million, a price-to-earnings ratio of -1.20 and a beta of 2.08. The firm has a 50-day moving average price of $5.35 and a two-hundred day moving average price of $9.23. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.58.

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

Insider Buying and Selling at Sunnova Energy International

In related news, Director Akbar Mohamed purchased 152,450 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were purchased at an average price of $6.92 per share, with a total value of $1,054,954.00. Following the completion of the purchase, the director now owns 236,139 shares in the company, valued at approximately $1,634,081.88. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Akbar Mohamed purchased 152,450 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were purchased at an average price of $6.92 per share, with a total value of $1,054,954.00. Following the completion of the purchase, the director now owns 236,139 shares in the company, valued at approximately $1,634,081.88. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul S. Mathews sold 9,500 shares of Sunnova Energy International stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $5.31, for a total transaction of $50,445.00. Following the completion of the sale, the insider now owns 14,007 shares in the company, valued at $74,377.17. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,580 shares of company stock valued at $137,382. 4.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sunnova Energy International

A number of institutional investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Sunnova Energy International by 2.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 45,491 shares of the company’s stock worth $663,000 after buying an additional 1,094 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Sunnova Energy International by 3.6% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 44,397 shares of the company’s stock valued at $465,000 after purchasing an additional 1,528 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Sunnova Energy International by 8.0% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 20,898 shares of the company’s stock valued at $325,000 after purchasing an additional 1,554 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Sunnova Energy International by 14.0% in the third quarter. Principal Financial Group Inc. now owns 12,893 shares of the company’s stock valued at $135,000 after purchasing an additional 1,584 shares during the last quarter. Finally, Manchester Capital Management LLC increased its holdings in shares of Sunnova Energy International by 2,959.7% in the fourth quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock valued at $29,000 after purchasing an additional 1,835 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.