Sunnova Energy International Inc. [NYSE: NOVA] stock went on a downward path that fall over -2.48% on Tuesday, amounting to a one-week price increase of more than 0.87%. The company report on March 30, 2023 that Sunnova Announces First Quarter 2023 Earnings Release Date and Conference Call.
Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA), a leading Energy as a Service (EaaS) provider, announced today it will release its first quarter 2023 results after the markets close on April 26, 2023, to be followed by a conference call to discuss the results at 8:00 a.m. Eastern Time on April 27, 2023.
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The conference call can be accessed live over the phone by dialing 833-470-1428, or for international callers, 929-526-1599. The access code for the live call is 730539.
Over the last 12 months, NOVA stock dropped by -16.68%. The one-year Sunnova Energy International Inc. stock forecast points to a potential upside of 52.77. 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 $1.93 billion, with 114.92 million shares outstanding and 105.35 million shares in the current float. Compared to the average trading volume of 3.97M shares, NOVA stock reached a trading volume of 3798134 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 $34.17 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.
Morgan Stanley have made an estimate for Sunnova Energy International Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on April 03, 2023. While these analysts kept the previous recommendation, Scotiabank raised their target price to Sector Outperform. The new note on the price target was released on March 02, 2023, representing the official price target for Sunnova Energy International Inc. stock. Previously, the target price had yet another drop from $25 to $24, while Wells Fargo kept a Overweight rating on NOVA stock.
The Average True Range (ATR) for Sunnova Energy International Inc. is set at 1.25, with the Price to Sales ratio for NOVA stock in the period of the last 12 months amounting to 3.46. The Price to Book ratio for the last quarter was 1.46, with the Price to Cash per share for the same quarter was set at 3.01.
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 0.87. With this latest performance, NOVA shares gained by 24.83% in over the last four-week period, additionally sinking by -3.81% over the last 6 months – not to mention a drop of -16.68% 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 53.47, with the RSI for the last a single of trading hit 56.62, and the three-weeks RSI is set at 50.94 for Sunnova Energy International Inc. [NOVA]. The present Moving Average for the last 50 days of trading for this stock 16.22, while it was recorded at 16.13 for the last single week of trading, and 20.38 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 -17.77 and a Gross Margin at +33.46. Sunnova Energy International Inc.’s Net Margin is presently recorded at -28.98.
Return on Total Capital for NOVA is now -1.62, given the latest momentum, and Return on Invested Capital for the company is -2.99. Return on Equity for this stock declined to -13.13, with Return on Assets sitting at -2.34. When it comes to the capital structure of this company, Sunnova Energy International Inc. [NOVA] has a Total Debt to Total Equity ratio set at 426.46. Additionally, NOVA Total Debt to Total Capital is recorded at 81.01, with Total Debt to Total Assets ending up at 65.12. Long-Term Debt to Equity for the company is recorded at 409.36, with the Long-Term Debt to Total Capital now at 77.76.
Reflecting on the efficiency of the workforce at the company, Sunnova Energy International Inc. [NOVA] managed to generate an average of -$137,802 per employee. Receivables Turnover for the company is 2.25 with a Total Asset Turnover recorded at a value of 0.08.Sunnova Energy International Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.70.
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 $2,142 million, in the hands of institutional investors. The top three institutional holders of NOVA stocks are: BLACKROCK INC. with ownership of 16,056,102, which is approximately 1.005% of the company’s market cap and around 0.70% of the total institutional ownership; BNP PARIBAS ASSET MANAGEMENT HOLDING S.A., holding 12,128,254 shares of the stock with an approximate value of $200.72 million in NOVA stocks shares; and VANGUARD GROUP INC, currently with $160.17 million in NOVA stock with ownership of nearly 1.468% of the company’s market capitalization.
Positions in Sunnova Energy International Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 130 institutional holders increased their position in Sunnova Energy International Inc. [NYSE:NOVA] by around 15,324,057 shares. Additionally, 113 investors decreased positions by around 19,584,076 shares, while 32 investors held positions by with 94,508,200 shares. The mentioned changes placed institutional holdings at 129,416,333 shares, according to the latest SEC report filing. NOVA stock had 32 new institutional investments in for a total of 1,536,644 shares, while 38 institutional investors sold positions of 4,398,340 shares during the same period.