Sunnova Energy International Inc. [NOVA] is -52.54% lower this YTD. Is it still time to buy?


Sunnova Energy International Inc. [NYSE: NOVA] loss -12.66% or -1.92 points to close at $13.25 with a heavy trading volume of 4243495 shares. The company report on May 3, 2022 that Sunnova Announces Fixed Discount for Solar to Combat Utility Rate Volatility.

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Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA), one of the leading U.S. residential energy service providers, announced today it will be launching an energy plan that will offer new customers a fixed percentage discount to prevailing utility prices and a 25-year market-based rate, all to offer price confidence to consumers regardless of volatile energy costs.

“For the first time, homeowners will be able to lock in a fixed discount to their local utilities’ electricity rates and charges for a full 25 years,” said Michael Grasso, EVP, Chief Marketing and Growth Officer. “When customers select this new energy plan, Sunnova will set the rate for solar energy at a fixed discount to the local utility’s price, then each year we will confirm or adjust the customer’s pricing to account for any changes. This is another great option from Sunnova that offers consumers the best and most flexible set of services for their individual energy needs.”.

It opened the trading session at $15.02, the shares rose to $15.02 and dropped to $13.18, the range by which the price of stock traded the whole day. The daily chart for NOVA points out that the company has recorded -68.73% loss over the past six months. However, it is still 4.68% lower than its most recent low trading price.

If we look at the average trading volume of 2.89M shares, NOVA reached to a volume of 4243495 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 $41.31 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 May 02, 2022. While these analysts kept the previous recommendation, Truist dropped their target price from $53 to $32. The new note on the price target was released on January 24, 2022, representing the official price target for Sunnova Energy International Inc. stock. Previously, the target price had yet another raise to $50, while Truist analysts kept a Buy rating on NOVA stock.

The Average True Range (ATR) for Sunnova Energy International Inc. is set at 1.62, with the Price to Sales ratio for NOVA stock in the period of the last 12 months amounting to 6.01. The Price to Book ratio for the last quarter was 1.22, with the Price to Cash per share for the same quarter was set at 1.73.

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 -32.47. With this latest performance, NOVA shares dropped by -40.50% in over the last four-week period, additionally sinking by -68.73% over the last 6 months – not to mention a drop of -48.96% 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 28.36, with the RSI for the last a single of trading hit 23.14, and the three-weeks RSI is set at 32.53 for Sunnova Energy International Inc. [NOVA]. The present Moving Average for the last 50 days of trading for this stock 21.06, while it was recorded at 16.23 for the last single week of trading, and 28.92 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 -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 1.20 and a Current Ratio set at 1.60.

An analysis of insider ownership at Sunnova Energy International Inc. [NOVA]

There are presently around $1,846 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 $192.76 million in NOVA stocks shares; and VANGUARD GROUP INC, currently with $130.72 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 141 institutional holders increased their position in Sunnova Energy International Inc. [NYSE:NOVA] by around 21,157,871 shares. Additionally, 100 investors decreased positions by around 18,834,853 shares, while 17 investors held positions by with 81,671,955 shares. The mentioned changes placed institutional holdings at 121,664,679 shares, according to the latest SEC report filing. NOVA stock had 41 new institutional investments in for a total of 3,406,726 shares, while 37 institutional investors sold positions of 4,377,911 shares during the same period.