Sunnova Energy International Inc. [NOVA] moved down -10.28: Why It’s Important

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Sunnova Energy International Inc. [NYSE: NOVA] loss -10.28% or -2.01 points to close at $17.55 with a heavy trading volume of 3182372 shares. The company report on June 14, 2022 that Sunnova and Montgomery County Green Bank Team Up to Make Solar More Accessible for Homeowners.


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Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA), a leading U.S. residential energy service provider, and Montgomery County Green Bank (MCGB), a nonprofit dedicated to accelerating energy efficiency, renewable energy, and clean energy investment, have partnered to help low-to-moderate income (LMI) households in Montgomery County, Maryland, transition to affordable, clean energy solutions by going solar with Sunnova.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220614005813/en/.

It opened the trading session at $18.62, the shares rose to $19.35 and dropped to $17.22, the range by which the price of stock traded the whole day. The daily chart for NOVA points out that the company has recorded -42.68% loss over the past six months. However, it is still -40.74% lower than its most recent low trading price.

If we look at the average trading volume of 2.80M shares, NOVA reached to a volume of 3182372 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 $40.29 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.

Northland Capital have made an estimate for Sunnova Energy International Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on May 18, 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 May 02, 2022, representing the official price target for Sunnova Energy International Inc. stock. Previously, the target price had yet another drop from $53 to $32, while Truist kept a Buy rating on NOVA stock.

The Average True Range (ATR) for Sunnova Energy International Inc. is set at 1.73, with the Price to Sales ratio for NOVA stock in the period of the last 12 months amounting to 7.75. The Price to Book ratio for the last quarter was 1.61, with the Price to Cash per share for the same quarter was set at 1.77.

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 -21.34. With this latest performance, NOVA shares gained by 8.07% in over the last four-week period, additionally sinking by -42.68% over the last 6 months – not to mention a drop of -50.62% 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 42.40, with the RSI for the last a single of trading hit 37.17, and the three-weeks RSI is set at 44.69 for Sunnova Energy International Inc. [NOVA]. The present Moving Average for the last 50 days of trading for this stock 18.73, while it was recorded at 19.24 for the last single week of trading, and 26.86 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 $2,097 million, in the hands of institutional investors. The top three institutional holders of NOVA stocks are: BLACKROCK INC. with ownership of 16,530,455, which is approximately 1.605% of the company’s market cap and around 0.80% of the total institutional ownership; BNP PARIBAS ASSET MANAGEMENT HOLDING S.A., holding 12,502,299 shares of the stock with an approximate value of $219.41 million in NOVA stocks shares; and VANGUARD GROUP INC, currently with $153.59 million in NOVA stock with ownership of nearly 1.558% 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 135 institutional holders increased their position in Sunnova Energy International Inc. [NYSE:NOVA] by around 12,727,641 shares. Additionally, 106 investors decreased positions by around 13,509,866 shares, while 21 investors held positions by with 93,275,824 shares. The mentioned changes placed institutional holdings at 119,513,331 shares, according to the latest SEC report filing. NOVA stock had 44 new institutional investments in for a total of 4,592,081 shares, while 34 institutional investors sold positions of 3,273,529 shares during the same period.

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