Sunnova Energy International Inc. [NYSE: NOVA] stock went on a downward path that fall over -0.99% on Tuesday, amounting to a one-week price increase of more than 4.97%. The company report on December 1, 2020 that Sunnova Announces Pricing of Primary and Secondary Offering of Shares of Common Stock.
Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA) announced the pricing of its underwritten public offering (the “Offering”) of 7,000,000 shares of Sunnova’s common stock, par value $0.0001 per share (the “common stock”), which consists of 3,500,000 shares of common stock offered by Sunnova and 3,500,000 shares of common stock offered by a fund affiliated with Newlight Partners (the “Selling Stockholder”) at a price to the public of $37.00 per share. Sunnova has granted the underwriters a 30-day option to purchase an additional 525,000 shares of common stock, and the Selling Stockholder has granted the underwriters a 30-day option to purchase an additional 525,000 shares of common stock.
The Offering is expected to settle and close on December 3, 2020, subject to the satisfaction of customary closing conditions.
Over the last 12 months, NOVA stock rose by 300.30%. The one-year Sunnova Energy International Inc. stock forecast points to a potential downside of -6.96. The average equity rating for NOVA stock is currently 1.80, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $3.55 billion, with 87.77 million shares outstanding and 61.72 million shares in the current float. Compared to the average trading volume of 2.00M shares, NOVA stock reached a trading volume of 6012929 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 3.07, with the Price to Sales ratio for NOVA stock in the period of the last 12 months amounting to 22.70. The Price to Book ratio for the last quarter was 4.87, with the Price to Cash per share for the same quarter was set at 0.96.
NOVA Stock Performance Analysis:
Sunnova Energy International Inc. [NOVA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.97. With this latest performance, NOVA shares gained by 66.71% in over the last four-week period, additionally plugging by 144.57% over the last 6 months – not to mention a rise of 300.30% 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 62.46, with the RSI for the last a single of trading hit 61.61, and the three-weeks RSI is set at 62.56 for Sunnova Energy International Inc. [NOVA]. The present Moving Average for the last 50 days of trading for this stock 30.57, while it was recorded at 41.59 for the last single week of trading, and 20.91 for the last 200 days.
Insight into Sunnova Energy International Inc. Fundamentals:
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.
NOVA Stock EPS
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.
Sunnova Energy International Inc. [NOVA] Insider Position Details
There are presently around $3,445 million, or 92.60% 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 $302.24 million in NOVA stocks shares; and BLACKROCK INC., currently with $155.85 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.