Sunnova Energy International Inc. [NYSE: NOVA] loss -6.37% or -2.24 points to close at $32.90 with a heavy trading volume of 1821789 shares. The company report on October 29, 2020 that Sunnova Reports Strong Third Quarter 2020 Results, Reaffirms 2020 Guidance, and Initiates 2021 Guidance.
Third Quarter 2020 Highlights.
Increased total customer count to 98,600 as of September 30, 2020;.
It opened the trading session at $35.64, the shares rose to $36.20 and dropped to $32.84, the range by which the price of stock traded the whole day. The daily chart for NOVA points out that the company has recorded 142.45% gains over the past six months. However, it is still -437.58% lower than its most recent low trading price.
If we look at the average trading volume of 1.86M shares, NOVA reached to a volume of 1821789 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Sunnova Energy International Inc. [NOVA]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NOVA shares is $37.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NOVA stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Piper Sandler have made an estimate for Sunnova Energy International Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on October 07, 2020. While these analysts kept the previous recommendation, JP Morgan raised their target price from $29 to $34. The new note on the price target was released on September 30, 2020, representing the official price target for Sunnova Energy International Inc. stock. Previously, the target price had yet another raise to $30, while B. Riley FBR analysts kept a Buy rating on NOVA stock.
The Average True Range (ATR) for Sunnova Energy International Inc. is set at 2.55, with the Price to Sales ratio for NOVA stock in the period of the last 12 months amounting to 19.51. The Price to Book ratio for the last quarter was 4.00, with the Price to Cash per share for the same quarter was set at 0.91.
Trading performance analysis for NOVA stock
Sunnova Energy International Inc. [NOVA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.11. With this latest performance, NOVA shares gained by 6.92% in over the last four-week period, additionally plugging by 142.45% over the last 6 months – not to mention a rise of 210.08% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NOVA stock in for the last two-week period is set at 58.71, with the RSI for the last a single of trading hit 57.76, and the three-weeks RSI is set at 58.32 for Sunnova Energy International Inc. [NOVA]. The present Moving Average for the last 50 days of trading for this stock 28.31, while it was recorded at 33.43 for the last single week of trading, and 19.95 for the last 200 days.
Sunnova Energy International Inc. [NOVA]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Sunnova Energy International Inc. [NOVA] shares currently have an operating margin of -17.01 and a Gross Margin at +58.43. Sunnova Energy International Inc.’s Net Margin is presently recorded at -109.73.
Return on Total Capital for NOVA is now -1.17, given the latest momentum, and Return on Invested Capital for the company is -8.44. Return on Equity for this stock declined to -25.17, with Return on Assets sitting at -6.95. When it comes to the capital structure of this company, Sunnova Energy International Inc. [NOVA] has a Total Debt to Total Equity ratio set at 225.07. Additionally, NOVA Total Debt to Total Capital is recorded at 69.24, with Total Debt to Total Assets ending up at 58.46. Long-Term Debt to Equity for the company is recorded at 209.90, with the Long-Term Debt to Total Capital now at 64.57.
Reflecting on the efficiency of the workforce at the company, Sunnova Energy International Inc. [NOVA] managed to generate an average of -$445,528 per employee. Receivables Turnover for the company is 4.99 with a Total Asset Turnover recorded at a value of 0.06.Sunnova Energy International Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.70.
Sunnova Energy International Inc. [NOVA]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Sunnova Energy International Inc. posted 0.03/share EPS, while the average EPS was predicted by analysts to be reported at -0.2/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 115.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NOVA.
An analysis of insider ownership at Sunnova Energy International Inc. [NOVA]
There are presently around $2,826 million, or 91.30% of NOVA stock, in the hands of institutional investors. The top three institutional holders of NOVA stocks are: ECP CONTROLCO, LLC with ownership of 24,911,664, which is approximately -35.046% of the company’s market cap and around 0.30% of the total institutional ownership; NEWLIGHT PARTNERS LP, holding 7,535,161 shares of the stock with an approximate value of $247.91 million in NOVA stocks shares; and BLACKROCK INC., currently with $127.84 million in NOVA stock with ownership of nearly 107.686% of the company’s market capitalization.
Positions in Sunnova Energy International Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 122 institutional holders increased their position in Sunnova Energy International Inc. [NYSE:NOVA] by around 25,503,644 shares. Additionally, 24 investors decreased positions by around 19,359,688 shares, while 6 investors held positions by with 41,035,482 shares. The mentioned changes placed institutional holdings at 85,898,814 shares, according to the latest SEC report filing. NOVA stock had 65 new institutional investments in for a total of 13,657,618 shares, while 8 institutional investors sold positions of 239,717 shares during the same period.