Sunnova Energy International Inc. [NOVA] fell -10.74% so far this year. What now?


Sunnova Energy International Inc. [NYSE: NOVA] traded at a high on 07/28/22, posting a 27.93 gain after which it closed the day’ session at $24.92. The company report on July 27, 2022 that Sunnova Reports Second Quarter 2022 Financial Results.

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Second Quarter 2022 Highlights.

Added 17,300 customers in the second quarter of 2022, bringing total customer count to 225,000 as of June 30, 2022;.

The results of the trading session contributed to over 15692801 shares changing hands. Over the past one week, the price volatility of Sunnova Energy International Inc. stands at 9.21% while the volatility over the past one month is 8.23%.

The market cap for NOVA stock reached $2.95 billion, with 113.50 million shares outstanding and 100.83 million shares in the current float. Compared to the average trading volume of 2.80M shares, NOVA reached a trading volume of 15692801 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 $37.42 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.

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 2.01, with the Price to Sales ratio for NOVA stock in the period of the last 12 months amounting to 11.07. The Price to Book ratio for the last quarter was 2.29, with the Price to Cash per share for the same quarter was set at 1.76.

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 26.88. With this latest performance, NOVA shares gained by 33.40% in over the last four-week period, additionally plugging by 32.13% over the last 6 months – not to mention a drop of -29.90% 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 67.95, with the RSI for the last a single of trading hit 75.04, and the three-weeks RSI is set at 63.27 for Sunnova Energy International Inc. [NOVA]. The present Moving Average for the last 50 days of trading for this stock 19.67, while it was recorded at 20.17 for the last single week of trading, and 24.82 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 -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.

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

There are presently around $2,879 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 $311.56 million in NOVA stocks shares; and VANGUARD GROUP INC, currently with $218.09 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 132 institutional holders increased their position in Sunnova Energy International Inc. [NYSE:NOVA] by around 12,167,267 shares. Additionally, 112 investors decreased positions by around 13,367,661 shares, while 23 investors held positions by with 90,008,148 shares. The mentioned changes placed institutional holdings at 115,543,076 shares, according to the latest SEC report filing. NOVA stock had 47 new institutional investments in for a total of 4,804,238 shares, while 36 institutional investors sold positions of 3,309,940 shares during the same period.