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

Sunnova Energy International (NYSE:NOVA) had its price objective cut by Scotiabank from $20.00 to $10.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a sector outperform rating on the stock.

Several other equities analysts have also recently weighed in on the stock. Susquehanna dropped 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 research report on Friday, April 5th. Mizuho cut their target price on Sunnova Energy International from $21.00 to $17.00 and set a buy rating on the stock in a research report on Friday, April 19th. Wells Fargo & Company reissued an equal weight rating and issued a $6.00 price target (down from $11.00) on shares of Sunnova Energy International in a research report on Friday, April 19th. Morgan Stanley reaffirmed an equal weight rating and set a $14.00 price objective (down from $24.00) on shares of Sunnova Energy International in a report on Monday, March 4th. Finally, Evercore ISI lowered their target price on shares of Sunnova Energy International from $29.00 to $26.00 and set an outperform rating for the company in a report 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 company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $17.86.

Sunnova Energy International Trading Down 16.2 %

Shares of Sunnova Energy International stock opened at $3.53 on Monday. The stock has a market capitalization of $437.16 million, a PE ratio of -1.01 and a beta of 2.08. Sunnova Energy International has a 52 week low of $3.37 and a 52 week high of $24.56. The stock has a 50 day moving average price of $5.19 and a two-hundred day moving average price of $9.19. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.85 and a current ratio of 0.85.

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

Insider Activity

In related news, 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 value of $50,445.00. Following the completion of the transaction, the insider now directly owns 14,007 shares in the company, valued at approximately $74,377.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Sunnova Energy International news, insider Paul S. Mathews sold 9,500 shares of Sunnova Energy International stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $5.31, for a total transaction of $50,445.00. Following the completion of the transaction, the insider now owns 14,007 shares of the company’s stock, valued at approximately $74,377.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Akbar Mohamed purchased 152,450 shares of the stock in a transaction dated Wednesday, February 28th. The stock was purchased at an average cost of $6.92 per share, for a total transaction of $1,054,954.00. Following the completion of the acquisition, the director now owns 236,139 shares of the company’s stock, valued at approximately $1,634,081.88. The disclosure for this purchase can be found here. Insiders have 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 Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NOVA. Commonwealth Equity Services LLC boosted its stake in Sunnova Energy International by 34.0% during the third quarter. Commonwealth Equity Services LLC now owns 17,527 shares of the company’s stock valued at $184,000 after buying an additional 4,450 shares during the period. Raymond James & Associates increased its position in shares of Sunnova Energy International by 19.5% in the third quarter. Raymond James & Associates now owns 95,096 shares of the company’s stock worth $996,000 after purchasing an additional 15,503 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Sunnova Energy International by 3.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 66,485 shares of the company’s stock valued at $696,000 after purchasing an additional 1,962 shares in the last quarter. Mackenzie Financial Corp lifted its position in Sunnova Energy International by 37.2% during the third quarter. Mackenzie Financial Corp now owns 115,657 shares of the company’s stock valued at $1,211,000 after purchasing an additional 31,338 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Sunnova Energy International by 4.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 105,299 shares of the company’s stock worth $1,102,000 after buying an additional 4,411 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.