Sunnova Energy International Inc. [NYSE: NOVA] jumped around 2.38 points on Wednesday, while shares priced at $27.64 at the close of the session, up 9.42%. The company report on September 1, 2022 that Sunnova Submits Application to Develop First-of-its-Kind Solar “Micro-Utility” in California.
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Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA), a leading U.S. Energy as a Service (EaaS) provider, announced it has applied to the California Public Utilities Commission (“CPUC”) to develop a first-of-its-kind solar and storage focused “micro-utility” in California.
Sunnova Energy International Inc. stock is now -1.00% down from its year-to-date (YTD) trading value. NOVA Stock saw the intraday high of $28.0283 and lowest of $25.24 per share. The company’s 52-week high price is 46.40, which means current price is +121.65% above from all time high which was touched on 08/08/22.
Compared to the average trading volume of 3.24M shares, NOVA reached a trading volume of 4273927 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 $38.95 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.
Barclays have made an estimate for Sunnova Energy International Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on August 05, 2022. While these analysts kept the previous recommendation, Piper Sandler dropped their target price from $27 to $23. The new note on the price target was released on July 19, 2022, representing the official price target for Sunnova Energy International Inc. stock. Previously, the target price had yet another raise to $22, while Wells Fargo analysts kept a Equal Weight rating on NOVA stock. On June 21, 2022, analysts decreased their price target for NOVA shares from 31 to 24.
The Average True Range (ATR) for Sunnova Energy International Inc. is set at 1.86, with the Price to Sales ratio for NOVA stock in the period of the last 12 months amounting to 9.34. The Price to Book ratio for the last quarter was 2.44, with the Price to Cash per share for the same quarter was set at 1.78.
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 10.60. With this latest performance, NOVA shares gained by 0.22% in over the last four-week period, additionally plugging by 13.79% over the last 6 months – not to mention a drop of -22.60% 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 60.41, with the RSI for the last a single of trading hit 64.21, and the three-weeks RSI is set at 58.80 for Sunnova Energy International Inc. [NOVA]. The present Moving Average for the last 50 days of trading for this stock 23.30, while it was recorded at 25.25 for the last single week of trading, and 22.73 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 1.30 and a Current Ratio set at 1.70.
Insider trade positions for Sunnova Energy International Inc. [NOVA]
There are presently around $3,397 million, in the hands of institutional investors. The top three institutional holders of NOVA stocks are: BLACKROCK INC. with ownership of 16,925,084, which is approximately 2.387% of the company’s market cap and around 0.80% of the total institutional ownership; BNP PARIBAS ASSET MANAGEMENT HOLDING S.A., holding 12,829,678 shares of the stock with an approximate value of $354.61 million in NOVA stocks shares; and VANGUARD GROUP INC, currently with $260.46 million in NOVA stock with ownership of nearly 7.676% 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 143 institutional holders increased their position in Sunnova Energy International Inc. [NYSE:NOVA] by around 15,231,522 shares. Additionally, 88 investors decreased positions by around 7,720,661 shares, while 24 investors held positions by with 99,942,389 shares. The mentioned changes placed institutional holdings at 122,894,572 shares, according to the latest SEC report filing. NOVA stock had 28 new institutional investments in for a total of 1,428,427 shares, while 30 institutional investors sold positions of 2,642,071 shares during the same period.