Sunnova Energy International Inc. [NOVA] Stock trading around $23.79 per share: What’s Next?

Sunnova Energy International Inc. [NYSE: NOVA] surged by $0.37 during the normal trading session on Thursday and reaching a high of $24.11 during the day while it closed the day at $23.79. The company report on November 3, 2022 that Sunnova Announces Analyst Day on November 17th.

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Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA), a leading Energy as a Service (EaaS) provider, today announced that it will host an Analyst Day on Thursday, November 17, 2022 from 8:30 am to 12:30 pm CST in Houston, Texas, and the in-person portion will be open to invited research analysts and investors. During Analyst Day, observations may be made regarding the company’s financial performance and outlook, as well as other forward looking matters.

The event will feature presentations from founder and Chief Executive Officer, John Berger, and other members of Sunnova’s executive leadership team, followed by a live Q&A. The event will highlight Sunnova’s leadership as an Energy as a Service company, current vision, strategy, growth initiatives and focus on future software solutions.

Sunnova Energy International Inc. stock has also gained 3.30% of its value over the past 7 days. However, NOVA stock has declined by -5.33% in the 3 months of the year. Over the past six months meanwhile, it has gained 36.80% and lost -14.79% year-on date.

The market cap for NOVA stock reached $2.84 billion, with 114.82 million shares outstanding and 105.03 million shares in the current float. Compared to the average trading volume of 3.46M shares, NOVA reached a trading volume of 4206115 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $36.25 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 2.00. 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.

Deutsche Bank have made an estimate for Sunnova Energy International Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 15, 2022. The new note on the price target was released on October 20, 2022, representing the official price target for Sunnova Energy International Inc. stock. Previously, the target price had yet another raise to $38, while Susquehanna analysts kept a Positive rating on NOVA stock.

The Average True Range (ATR) for Sunnova Energy International Inc. is set at 1.90, with the Price to Sales ratio for NOVA stock in the period of the last 12 months amounting to 6.64. The Price to Book ratio for the last quarter was 2.19, with the Price to Cash per share for the same quarter was set at 3.46.

NOVA stock trade performance evaluation

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 3.30. With this latest performance, NOVA shares gained by 49.62% in over the last four-week period, additionally plugging by 36.80% over the last 6 months – not to mention a drop of -40.92% 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 64.32, with the RSI for the last a single of trading hit 71.40, and the three-weeks RSI is set at 59.22 for Sunnova Energy International Inc. [NOVA]. The present Moving Average for the last 50 days of trading for this stock 21.51, while it was recorded at 22.94 for the last single week of trading, and 21.18 for the last 200 days.

Sunnova Energy International Inc. [NOVA]: An insightful look at the core 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 1.60 and a Current Ratio set at 2.00.

Earnings per share (EPS) analysis for Sunnova Energy International Inc. [NOVA] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NOVA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Sunnova Energy International Inc. go to -14.00%.

Sunnova Energy International Inc. [NOVA]: Insider Ownership positions

There are presently around $3,195 million, in the hands of institutional investors. The top three institutional holders of NOVA stocks are: BLACKROCK INC. with ownership of 15,896,310, which is approximately -6.078% of the company’s market cap and around 0.80% of the total institutional ownership; BNP PARIBAS ASSET MANAGEMENT HOLDING S.A., holding 10,148,357 shares of the stock with an approximate value of $241.43 million in NOVA stocks shares; and VANGUARD GROUP INC, currently with $226.91 million in NOVA stock with ownership of nearly 1.215% of the company’s market capitalization.

Positions in Sunnova Energy International Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 161 institutional holders increased their position in Sunnova Energy International Inc. [NYSE:NOVA] by around 24,390,824 shares. Additionally, 92 investors decreased positions by around 12,690,525 shares, while 26 investors held positions by with 97,207,532 shares. The mentioned changes placed institutional holdings at 134,288,881 shares, according to the latest SEC report filing. NOVA stock had 58 new institutional investments in for a total of 6,980,029 shares, while 29 institutional investors sold positions of 3,689,614 shares during the same period.


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