Sunnova Energy International Inc. [NOVA] Is Currently 3.39 below its 200 Period Moving Avg: What Does This Mean?

Sunnova Energy International Inc. [NYSE: NOVA] stock went on an upward path that rose over 3.39% on Tuesday, amounting to a one-week price increase of more than 2.56%. The company report on January 10, 2023 that SolarEdge and Sunnova Expand Partnership to Include SolarEdge Home Battery in Sunnova’s Energy as a Service Portfolio.

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SolarEdge Technologies, Inc. (“SolarEdge”) (NASDAQ: SEDG), a global leader in smart energy technology, and Sunnova Energy International, Inc. (“Sunnova”) (NYSE: NOVA), a leading U.S. Energy as a Service (EaaS) provider, today announced the expansion of their long-standing partnership with the addition of the SolarEdge Home Battery to the Sunnova EaaS portfolio. The expansion of the partnership will enable Sunnova’s network of dealers to offer the SolarEdge Home Battery, in order to better meet homeowners’ demand for increased energy efficiency and resiliency – crucial in the current climate of energy price inflation and grid instability.

Over the last 12 months, NOVA stock dropped by -24.93%. The one-year Sunnova Energy International Inc. stock forecast points to a potential upside of 51.38. 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 $2.00 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 stock reached a trading volume of 3839470 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 $37.04 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.

Wells Fargo have made an estimate for Sunnova Energy International Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 06, 2023. While these analysts kept the previous recommendation, Citigroup raised their target price to Buy. The new note on the price target was released on December 15, 2022, representing the official price target for Sunnova Energy International Inc. stock. Previously, the target price had yet another raise to $33, while Janney analysts kept a Buy rating on NOVA stock.

The Average True Range (ATR) for Sunnova Energy International Inc. is set at 1.28, with the Price to Sales ratio for NOVA stock in the period of the last 12 months amounting to 4.69. The Price to Book ratio for the last quarter was 1.66, with the Price to Cash per share for the same quarter was set at 3.71.

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 2.56. With this latest performance, NOVA shares dropped by -11.72% in over the last four-week period, additionally sinking by -10.26% over the last 6 months – not to mention a drop of -24.93% 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 43.11, with the RSI for the last a single of trading hit 44.24, and the three-weeks RSI is set at 43.73 for Sunnova Energy International Inc. [NOVA]. The present Moving Average for the last 50 days of trading for this stock 20.36, while it was recorded at 17.68 for the last single week of trading, and 21.17 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 1.60 and a Current Ratio set at 2.00.

NOVA Stock EPS

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 Position Details

There are presently around $2,404 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 $182.77 million in NOVA stocks shares; and VANGUARD GROUP INC, currently with $171.78 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 February and at the time of the February reporting period, where 157 institutional holders increased their position in Sunnova Energy International Inc. [NYSE:NOVA] by around 24,231,729 shares. Additionally, 92 investors decreased positions by around 12,691,791 shares, while 26 investors held positions by with 96,555,419 shares. The mentioned changes placed institutional holdings at 133,478,939 shares, according to the latest SEC report filing. NOVA stock had 56 new institutional investments in for a total of 6,976,456 shares, while 28 institutional investors sold positions of 3,689,330 shares during the same period.

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