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

Sunnova Energy International (NYSE:NOVA) had its price objective trimmed by Scotiabank from $20.00 to $10.00 in a report issued on Monday morning, Benzinga reports. The firm currently has a sector outperform rating on the stock.

A number of other equities research analysts have also issued reports on NOVA. B. Riley cut their price target on Sunnova Energy International from $21.00 to $15.00 and set a buy rating for the company in a research note on Monday, April 22nd. Susquehanna cut their target price on Sunnova Energy International from $20.00 to $12.00 and set a positive rating for the company in a research report on Friday, April 5th. The Goldman Sachs Group lowered their price target 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. KeyCorp downgraded Sunnova Energy International from an overweight rating to a sector weight rating in a research note on Tuesday, April 23rd. Finally, Evercore ISI reduced their price objective on shares of Sunnova Energy International from $29.00 to $26.00 and set an outperform rating on the stock in a research report on Friday, February 23rd. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $18.14.

Sunnova Energy International Stock Up 8.5 %

Shares of NYSE:NOVA opened at $4.34 on Monday. The stock has a 50 day moving average of $5.49 and a 200 day moving average of $9.27. Sunnova Energy International has a 12-month low of $3.52 and a 12-month high of $24.56. 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 (NYSE:NOVA) last issued its quarterly earnings results on Wednesday, February 21st. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate 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 fiscal year.

Insider Buying and Selling at Sunnova Energy International

In related news, insider Paul S. Mathews sold 9,500 shares of the firm’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 sale, the insider now directly owns 14,007 shares in the company, valued at $74,377.17. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Sunnova Energy International news, insider Jack O. Lynch III sold 12,994 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $6.21, for a total value of $80,692.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul S. Mathews sold 9,500 shares of the company’s 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 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. Insiders have sold a total of 23,580 shares of company stock worth $137,382 over the last ninety days. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Sunnova Energy International

A number of institutional investors and hedge funds have recently modified their holdings of NOVA. Manchester Capital Management LLC lifted its holdings in Sunnova Energy International by 2,959.7% during the 4th quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock valued at $29,000 after buying an additional 1,835 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Sunnova Energy International during the first quarter worth approximately $25,000. Allspring Global Investments Holdings LLC raised its stake in shares of 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 valued at $74,000 after acquiring an additional 4,310 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Sunnova Energy International in the fourth quarter valued at approximately $157,000. Finally, Ballentine Partners LLC purchased a new stake in shares of Sunnova Energy International in the fourth quarter valued at approximately $161,000.

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.