Sunnova Energy International Inc. [NYSE: NOVA] stock went on an upward path that rose over 0.40% on Wednesday, amounting to a one-week price increase of more than 1.00%. The company report on July 13, 2022 that Navajo Nation Community Gains Energy Independence Through Solar + Storage from Sunnova and Generac.
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Hard Rock Chapter House in Navajo Nation is Now Powered by Clean, Resilient and Affordable Energy.
Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA), Generac Power Systems, Inc. (“Generac”) (NYSE: GNRC), and San Francisco based non-profit, Empowered by Light (EBL), have partnered to bring resilient and clean energy to the Hard Rock Chapter House in the Navajo Nation with a free solar + battery storage system and 25 years of Sunnova’s industry leading service.
Over the last 12 months, NOVA stock dropped by -42.43%. The one-year Sunnova Energy International Inc. stock forecast points to a potential upside of 46.71. The average equity rating for NOVA stock is currently 1.90, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $2.43 billion, with 113.50 million shares outstanding and 100.83 million shares in the current float. Compared to the average trading volume of 2.96M shares, NOVA stock reached a trading volume of 3346299 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 $37.83 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 1.90. 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.
Piper Sandler have made an estimate for Sunnova Energy International Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 19, 2022. While these analysts kept the previous recommendation, Wells Fargo raised their target price to Equal Weight. The new note on the price target was released on June 29, 2022, representing the official price target for Sunnova Energy International Inc. stock. Previously, the target price had yet another drop from $31 to $24, while Goldman kept a Neutral rating on NOVA stock.
The Average True Range (ATR) for Sunnova Energy International Inc. is set at 1.72, with the Price to Sales ratio for NOVA stock in the period of the last 12 months amounting to 9.14. The Price to Book ratio for the last quarter was 1.85, with the Price to Cash per share for the same quarter was set at 1.73.
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 1.00. With this latest performance, NOVA shares gained by 2.02% in over the last four-week period, additionally sinking by -10.36% over the last 6 months – not to mention a drop of -42.43% 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 52.25, with the RSI for the last a single of trading hit 53.37, and the three-weeks RSI is set at 51.64 for Sunnova Energy International Inc. [NOVA]. The present Moving Average for the last 50 days of trading for this stock 19.03, while it was recorded at 19.74 for the last single week of trading, and 25.22 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 1.20 and a Current Ratio set at 1.60.
Sunnova Energy International Inc. [NOVA] Insider Position Details
There are presently around $2,324 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 $252.05 million in NOVA stocks shares; and VANGUARD GROUP INC, currently with $176.43 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 July and at the time of the July reporting period, where 130 institutional holders increased their position in Sunnova Energy International Inc. [NYSE:NOVA] by around 11,930,143 shares. Additionally, 110 investors decreased positions by around 13,544,256 shares, while 22 investors held positions by with 89,815,034 shares. The mentioned changes placed institutional holdings at 115,289,433 shares, according to the latest SEC report filing. NOVA stock had 43 new institutional investments in for a total of 4,567,102 shares, while 35 institutional investors sold positions of 3,297,833 shares during the same period.