Sunnova Energy International Inc. [NOVA] Stock trading around $22.68 per share: What’s Next?

Sunnova Energy International Inc. [NYSE: NOVA] traded at a low on 12/15/22, posting a -1.78 loss after which it closed the day’ session at $22.68. The company report on December 5, 2022 that Savant Teams with Sunnova to Deliver Smart Power Solutions.

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Sunnova selects Savant as their preferred provider of load management technology and smart energy software for the Sunnova Adaptive Home®.

Savant Systems, Inc., a leader in smart home and smart power, has announced an agreement with Sunnova Energy International, Inc. (“Sunnova”) (NYSE: NOVA), a leading U.S. Energy as a Service (EaaS) provider, to add Savant’s intelligent load management and control solution to Sunnova’s Energy as a Service offerings for customers across the U.S., beginning Q1 of 2023.

The results of the trading session contributed to over 2974578 shares changing hands. Over the past one week, the price volatility of Sunnova Energy International Inc. stands at 6.41% while the volatility over the past one month is 6.51%.

The market cap for NOVA stock reached $2.63 billion, with 114.82 million shares outstanding and 105.35 million shares in the current float. Compared to the average trading volume of 3.29M shares, NOVA reached a trading volume of 2974578 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 $37.41 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.

Citigroup have made an estimate for Sunnova Energy International Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 15, 2022. While these analysts kept the previous recommendation, Janney raised their target price to Buy. The new note on the price target was released on December 01, 2022, representing the official price target for Sunnova Energy International Inc. stock. Previously, the target price had yet another raise to $36, while Deutsche Bank analysts kept a Buy rating on NOVA stock.

The Average True Range (ATR) for Sunnova Energy International Inc. is set at 1.60, with the Price to Sales ratio for NOVA stock in the period of the last 12 months amounting to 6.16. The Price to Book ratio for the last quarter was 2.09, with the Price to Cash per share for the same quarter was set at 3.56.

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 11.18. With this latest performance, NOVA shares dropped by -2.58% in over the last four-week period, additionally plugging by 29.23% over the last 6 months – not to mention a drop of -25.93% 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 55.46, with the RSI for the last a single of trading hit 57.47, and the three-weeks RSI is set at 53.95 for Sunnova Energy International Inc. [NOVA]. The present Moving Average for the last 50 days of trading for this stock 20.22, while it was recorded at 21.90 for the last single week of trading, and 21.58 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 1.60 and a Current Ratio set at 2.00.

Earnings analysis for Sunnova Energy International Inc. [NOVA]

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%.

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

There are presently around $3,046 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 0.70% 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 $230.16 million in NOVA stocks shares; and VANGUARD GROUP INC, currently with $216.32 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 160 institutional holders increased their position in Sunnova Energy International Inc. [NYSE:NOVA] by around 24,367,277 shares. Additionally, 93 investors decreased positions by around 12,692,075 shares, while 26 investors held positions by with 97,228,894 shares. The mentioned changes placed institutional holdings at 134,288,246 shares, according to the latest SEC report filing. NOVA stock had 57 new institutional investments in for a total of 6,976,474 shares, while 29 institutional investors sold positions of 3,689,614 shares during the same period.


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