Sunnova Energy International Inc. [NYSE: NOVA] stock went on an upward path that rose over 6.82% on Thursday, amounting to a one-week price increase of more than 11.97%. The company report on June 14, 2021 that Sunnova Prices Securitization of Residential Solar and Battery Systems.
Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA), announced the pricing of its latest securitization of leases and power purchases agreements.
“We are pleased to report the pricing of a ground-breaking securitization of third party owned (“TPO”) solar and storage assets,” said Robert Lane, Chief Financial Officer of Sunnova. “We were able to achieve our tightest spread over the interest rate benchmark to date for a TPO solar and storage asset securitization, reflecting the high-quality assets in the pool. Further, this is the solar sector’s first ever securitization re-financing collateral from a pre-existing securitization. Finally, we have structured this transaction to align the debt service of the assets more closely with their cash flows, which in turn allows us to bring more cash to the corporate level and bring us closer to our goal of issuing a bullet-maturity green bond.”.
Over the last 12 months, NOVA stock rose by 99.78%. The one-year Sunnova Energy International Inc. stock forecast points to a potential upside of 33.85. 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 $3.97 billion, with 106.36 million shares outstanding and 89.01 million shares in the current float. Compared to the average trading volume of 2.43M shares, NOVA stock reached a trading volume of 3235787 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 $53.73 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.
Guggenheim have made an estimate for Sunnova Energy International Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 03, 2021. While these analysts kept the previous recommendation, Evercore ISI raised their target price to Outperform. The new note on the price target was released on April 20, 2021, representing the official price target for Sunnova Energy International Inc. stock. Previously, the target price had yet another raise from $48 to $56, while Credit Suisse kept a Outperform rating on NOVA stock.
The Average True Range (ATR) for Sunnova Energy International Inc. is set at 2.13, with the Price to Sales ratio for NOVA stock in the period of the last 12 months amounting to 23.04. The Price to Book ratio for the last quarter was 3.69, with the Price to Cash per share for the same quarter was set at 1.35.
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 11.97. With this latest performance, NOVA shares gained by 33.96% in over the last four-week period, additionally sinking by -17.29% over the last 6 months – not to mention a rise of 99.78% 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 67.86, with the RSI for the last a single of trading hit 80.03, and the three-weeks RSI is set at 59.61 for Sunnova Energy International Inc. [NOVA]. The present Moving Average for the last 50 days of trading for this stock 32.33, while it was recorded at 32.95 for the last single week of trading, and 36.10 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 -22.25 and a Gross Margin at +53.34. Sunnova Energy International Inc.’s Net Margin is presently recorded at -156.87.
Return on Total Capital for NOVA is now -1.28, given the latest momentum, and Return on Invested Capital for the company is -10.32. Return on Equity for this stock declined to -31.58, with Return on Assets sitting at -8.31. 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 215.03. Additionally, NOVA Total Debt to Total Capital is recorded at 68.26, with Total Debt to Total Assets ending up at 57.04. Long-Term Debt to Equity for the company is recorded at 203.25, with the Long-Term Debt to Total Capital now at 64.52.
Reflecting on the efficiency of the workforce at the company, Sunnova Energy International Inc. [NOVA] managed to generate an average of -$640,315 per employee. Receivables Turnover for the company is 3.49 with a Total Asset Turnover recorded at a value of 0.05.Sunnova Energy International Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 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 -0.31/share EPS, while the average EPS was predicted by analysts to be reported at -0.19/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -63.20%. 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 $3,678 million, or 97.00% of NOVA stock, in the hands of institutional investors. The top three institutional holders of NOVA stocks are: ECP CONTROLCO, LLC with ownership of 16,911,664, which is approximately 0% of the company’s market cap and around 0.50% of the total institutional ownership; BLACKROCK INC., holding 12,673,336 shares of the stock with an approximate value of $450.41 million in NOVA stocks shares; and VANGUARD GROUP INC, currently with $241.3 million in NOVA stock with ownership of nearly 46.007% of the company’s market capitalization.
Positions in Sunnova Energy International Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 136 institutional holders increased their position in Sunnova Energy International Inc. [NYSE:NOVA] by around 22,153,144 shares. Additionally, 94 investors decreased positions by around 12,949,888 shares, while 16 investors held positions by with 68,384,865 shares. The mentioned changes placed institutional holdings at 103,487,897 shares, according to the latest SEC report filing. NOVA stock had 45 new institutional investments in for a total of 2,020,211 shares, while 37 institutional investors sold positions of 4,412,307 shares during the same period.