Truist slashes price target on Sunnova Energy International Inc. [NOVA] – find out why.


Sunnova Energy International Inc. [NYSE: NOVA] traded at a high on 11/11/21, posting a 9.33 gain after which it closed the day’ session at $44.63. The company report on November 10, 2021 that Brinks Home and Sunnova Launch Exclusive Partnership to Sell Home Security and Energy Solutions.

Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA) and Brinks Home™ announced the launch of an exclusive partnership. The agreement will allow Sunnova to offer its customers options from the Brinks Home portfolio of smart home security solutions, and allow Brinks Home dealers and authorized representatives to offer their customers Sunnova’s suite of solar, battery, and energy services.

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The results of the trading session contributed to over 3331221 shares changing hands. Over the past one week, the price volatility of Sunnova Energy International Inc. stands at 6.34% while the volatility over the past one month is 5.69%.

The market cap for NOVA stock reached $5.15 billion, with 112.16 million shares outstanding and 89.78 million shares in the current float. Compared to the average trading volume of 1.82M shares, NOVA reached a trading volume of 3331221 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $56.33 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 1.70. 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.

Truist have made an estimate for Sunnova Energy International Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 15, 2021. While these analysts kept the previous recommendation, BMO Capital Markets raised their target price to Outperform. The new note on the price target was released on October 01, 2021, representing the official price target for Sunnova Energy International Inc. stock. Previously, the target price had yet another raise to $50, while Wolfe Research analysts kept a Outperform rating on NOVA stock.

The Average True Range (ATR) for Sunnova Energy International Inc. is set at 2.47, with the Price to Sales ratio for NOVA stock in the period of the last 12 months amounting to 23.98. The Price to Book ratio for the last quarter was 4.57, with the Price to Cash per share for the same quarter was set at 3.54.

How has NOVA stock performed recently?

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 3.38. With this latest performance, NOVA shares gained by 12.93% in over the last four-week period, additionally plugging by 55.23% over the last 6 months – not to mention a rise of 34.14% 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 62.31, with the RSI for the last a single of trading hit 63.32, and the three-weeks RSI is set at 61.21 for Sunnova Energy International Inc. [NOVA]. The present Moving Average for the last 50 days of trading for this stock 37.38, while it was recorded at 42.51 for the last single week of trading, and 36.76 for the last 200 days.

Sunnova Energy International Inc. [NOVA]: Deeper insight into the 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 2.20 and a Current Ratio set at 2.70.

Earnings analysis for Sunnova Energy International Inc. [NOVA]

With the latest financial reports released by the company, Sunnova Energy International Inc. posted -0.96/share EPS, while the average EPS was predicted by analysts to be reported at -0.31/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -209.70%. 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.

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Insider trade positions for Sunnova Energy International Inc. [NOVA]

There are presently around $5,209 million, 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 0.60% of the total institutional ownership; BLACKROCK INC., holding 12,037,967 shares of the stock with an approximate value of $537.25 million in NOVA stocks shares; and BNP PARIBAS ASSET MANAGEMENT HOLDING S.A., currently with $486.99 million in NOVA stock with ownership of nearly 2.77% 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 135 institutional holders increased their position in Sunnova Energy International Inc. [NYSE:NOVA] by around 17,562,466 shares. Additionally, 82 investors decreased positions by around 7,189,285 shares, while 22 investors held positions by with 91,952,772 shares. The mentioned changes placed institutional holdings at 116,704,523 shares, according to the latest SEC report filing. NOVA stock had 40 new institutional investments in for a total of 6,189,556 shares, while 31 institutional investors sold positions of 4,028,618 shares during the same period.