Sunnova Energy International (NYSE:NOVA) Price Target Cut to $10.00 by Analysts at Scotiabank

Sunnova Energy International (NYSE:NOVA - Get Free Report) had its target price dropped by investment analysts at Scotiabank from $20.00 to $10.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a "sector outperform" rating on the stock. Scotiabank's price target points to a potential upside of 130.41% from the stock's previous close.

A number of other brokerages have also recently issued reports on NOVA. Mizuho cut their target price on shares of Sunnova Energy International from $21.00 to $17.00 and set a "buy" rating on the stock in a report on Friday, April 19th. Northland Securities reissued a "market perform" rating and issued a $9.00 target price (down previously from $12.00) on shares of Sunnova Energy International in a report on Friday, February 23rd. Wells Fargo & Company reissued an "equal weight" rating and issued a $6.00 target price (down previously from $11.00) on shares of Sunnova Energy International in a report on Friday, April 19th. B. Riley cut their price target on Sunnova Energy International from $21.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, April 22nd. Finally, Janney Montgomery Scott raised Sunnova Energy International from a "neutral" rating to a "buy" rating and set a $12.00 price target on the stock in a report on Friday, March 22nd. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Sunnova Energy International currently has an average rating of "Moderate Buy" and a consensus price target of $18.14.

Sunnova Energy International Stock Up 8.5 %

Shares of NOVA stock traded up $0.34 during trading hours on Monday, hitting $4.34. 6,037,449 shares of the company were exchanged, compared to its average volume of 9,028,096. 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 has a one year low of $3.52 and a one year high of $24.56. The business's 50-day simple moving average is $5.63 and its two-hundred day simple moving average is $9.31. The stock has a market capitalization of $537.47 million, a price-to-earnings ratio of -1.23 and a beta of 2.08.

Sunnova Energy International (NYSE:NOVA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The company reported ($0.20) EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $226.09 million. Sell-side analysts predict that Sunnova Energy International will post -2.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other Sunnova Energy International 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 transaction, the insider now owns 14,007 shares in the company, valued at $74,377.17. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Akbar Mohamed acquired 152,450 shares of the firm's 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 purchase, the director now owns 236,139 shares of the company's stock, valued at approximately $1,634,081.88. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $50,445.00. Following the completion of the transaction, the insider now directly owns 14,007 shares of the company's stock, valued at approximately $74,377.17. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,580 shares of company stock worth $137,382. 4.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Sunnova Energy International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Sunnova Energy International by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 10,486,392 shares of the company's stock worth $159,917,000 after purchasing an additional 215,905 shares during the period. Electron Capital Partners LLC boosted its stake in shares of Sunnova Energy International by 42.9% during the 3rd quarter. Electron Capital Partners LLC now owns 5,308,684 shares of the company's stock valued at $55,582,000 after buying an additional 1,593,098 shares during the period. Van ECK Associates Corp boosted its stake in shares of Sunnova Energy International by 124.4% during the 4th quarter. Van ECK Associates Corp now owns 1,563,320 shares of the company's stock valued at $23,841,000 after buying an additional 866,705 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Sunnova Energy International by 57.6% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,324,957 shares of the company's stock valued at $13,872,000 after buying an additional 484,150 shares during the period. Finally, Guinness Asset Management LTD boosted its stake in shares of Sunnova Energy International by 5.9% during the 3rd quarter. Guinness Asset Management LTD now owns 1,240,355 shares of the company's stock valued at $12,981,000 after buying 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.