Truist lifts Sunnova Energy International Inc. [NOVA] price estimate. Who else is bullish?

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Sunnova Energy International Inc. [NYSE: NOVA] price surged by 1.60 percent to reach at $0.26. The company report on April 27, 2022 that Sunnova Reports First Quarter 2022 Financial Results.

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First Quarter 2022 and Recent Highlights.

Added 15,300 customers in the first quarter of 2022, bringing total customer count to 207,800 as of March 31, 2022;.

A sum of 4917812 shares traded at recent session while its average daily volume was at 2.97M shares. Sunnova Energy International Inc. shares reached a high of $17.58 and dropped to a low of $16.19 until finishing in the latest session at $16.51.

The one-year NOVA stock forecast points to a potential upside of 60.75. The average equity rating for NOVA stock is currently 1.80, trading closer to a bullish pattern in the stock market.

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 $42.06 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.

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 January 24, 2022. While these analysts kept the previous recommendation, Truist raised their target price to Buy. The new note on the price target was released on October 15, 2021, representing the official price target for Sunnova Energy International Inc. stock. Previously, the target price had yet another raise to $50, while BMO Capital Markets analysts kept a Outperform rating on NOVA stock.

The Average True Range (ATR) for Sunnova Energy International Inc. is set at 1.55, with the Price to Sales ratio for NOVA stock in the period of the last 12 months amounting to 8.89. The Price to Book ratio for the last quarter was 1.57, with the Price to Cash per share for the same quarter was set at 1.87.

NOVA Stock Performance Analysis:

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 -9.43. With this latest performance, NOVA shares dropped by -33.00% in over the last four-week period, additionally sinking by -57.85% over the last 6 months – not to mention a drop of -57.59% 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 32.18, with the RSI for the last a single of trading hit 27.43, and the three-weeks RSI is set at 36.36 for Sunnova Energy International Inc. [NOVA]. The present Moving Average for the last 50 days of trading for this stock 21.15, while it was recorded at 16.33 for the last single week of trading, and 29.79 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 -30.47 and a Gross Margin at +45.53. Sunnova Energy International Inc.’s Net Margin is presently recorded at -57.14.

Return on Equity for this stock declined to -12.90, with Return on Assets sitting at -3.04.

Sunnova Energy International Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 2.00.

Sunnova Energy International Inc. [NOVA] Insider Position Details

There are presently around $1,961 million, in the hands of institutional investors. The top three institutional holders of NOVA stocks are: BLACKROCK INC. with ownership of 16,269,269, which is approximately 35.15% of the company’s market cap and around 0.80% of the total institutional ownership; BNP PARIBAS ASSET MANAGEMENT HOLDING S.A., holding 12,706,717 shares of the stock with an approximate value of $206.48 million in NOVA stocks shares; and VANGUARD GROUP INC, currently with $140.03 million in NOVA stock with ownership of nearly 16.558% 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 133 institutional holders increased their position in Sunnova Energy International Inc. [NYSE:NOVA] by around 20,283,568 shares. Additionally, 100 investors decreased positions by around 17,936,282 shares, while 18 investors held positions by with 82,440,791 shares. The mentioned changes placed institutional holdings at 120,660,641 shares, according to the latest SEC report filing. NOVA stock had 38 new institutional investments in for a total of 2,487,132 shares, while 30 institutional investors sold positions of 3,648,177 shares during the same period.