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

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

Several other research firms have also recently weighed in on NOVA. Morgan Stanley reiterated an “equal weight” rating and set a $14.00 price objective (down previously from $24.00) on shares of Sunnova Energy International in a research report on Monday, March 4th. KeyCorp lowered Sunnova Energy International from an “overweight” rating to a “sector weight” rating in a report on Tuesday, April 23rd. Truist Financial reissued a “buy” rating and set a $16.00 target price (down from $18.00) on shares of Sunnova Energy International in a report on Monday, February 26th. The Goldman Sachs Group reduced their target price on Sunnova Energy International from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, April 11th. Finally, Janney Montgomery Scott raised 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. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.14.

Sunnova Energy International Stock Performance

NOVA stock traded up $0.24 during trading hours 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. The firm has a market capitalization of $525.08 million, a P/E ratio of -1.21 and a beta of 2.08. The company has a 50-day simple moving average of $5.63 and a two-hundred day simple moving average of $9.31. Sunnova Energy International has a 12 month low of $3.52 and a 12 month high of $24.56.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings data on Wednesday, February 21st. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.04. The firm had revenue of $194.18 million for the quarter, compared to analysts’ expectations of $226.09 million. Sunnova Energy International had a negative return on equity of 13.26% and a negative net margin of 58.00%. On average, analysts forecast that Sunnova Energy International will post -2.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Sunnova Energy International

In other Sunnova Energy International news, insider Paul S. Mathews sold 9,500 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $5.31, for a total value of $50,445.00. Following the completion of the sale, the insider now owns 14,007 shares of the company’s stock, valued at $74,377.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Sunnova Energy International news, Director Akbar Mohamed acquired 152,450 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were 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 owns 236,139 shares in the company, valued at $1,634,081.88. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Paul S. Mathews sold 9,500 shares of the business’s stock in a transaction on Monday, March 11th. The stock was 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 23,580 shares of company stock valued at $137,382. Company insiders own 4.50% of the company’s stock.

Institutional Trading of Sunnova Energy International

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Sunnova Energy International during the first quarter worth about $25,000. Manchester Capital Management LLC grew its position in Sunnova Energy International by 2,959.7% during the fourth quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock worth $29,000 after buying an additional 1,835 shares in the last quarter. First Trust Direct Indexing L.P. purchased a new position in Sunnova Energy International during the first quarter worth about $66,000. Allspring Global Investments Holdings LLC grew its position in Sunnova Energy International by 158.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,036 shares of the company’s stock worth $74,000 after buying an additional 4,310 shares in the last quarter. Finally, NewEdge Wealth LLC purchased a new position in Sunnova Energy International during the third quarter worth about $125,000.

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.