Sunnova Energy International Inc. [NOVA] Revenue clocked in at $653.70 million, down -16.71% YTD: What’s Next?

Sunnova Energy International Inc. [NYSE: NOVA] loss -8.20% or -1.34 points to close at $15.00 with a heavy trading volume of 6893085 shares. The company report on May 3, 2023 at 5:00 PM that Sunnova and Amica Insurance Collaborate to Bring Innovative Energy Services and Insurance Products to Homeowners.

Amica Insurance and Sunnova to Offer Cross-Marketing Opportunities to Both Customer Bases Across the U.S.

Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA), a leading U.S. Energy as a Service (EaaS) provider, announced today it is teaming up with Amica Insurance (Amica), a leader in auto, home, and life insurance, to expand the reach of Sunnova’s clean, affordable, and reliable energy services.

It opened the trading session at $16.41, the shares rose to $16.56 and dropped to $14.16, the range by which the price of stock traded the whole day. The daily chart for NOVA points out that the company has recorded -19.79% loss over the past six months. However, it is still -20.39% lower than its most recent low trading price.

If we look at the average trading volume of 4.49M shares, NOVA reached to a volume of 6893085 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $33.96 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 1.39, with the Price to Sales ratio for NOVA stock in the period of the last 12 months amounting to 2.67. The Price to Book ratio for the last quarter was 1.35, with the Price to Cash per share for the same quarter was set at 1.81.

Trading performance analysis for NOVA stock

Sunnova Energy International Inc. [NOVA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -17.49. With this latest performance, NOVA shares dropped by -3.29% in over the last four-week period, additionally sinking by -19.79% over the last 6 months – not to mention a drop of -19.01% 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 42.84, with the RSI for the last a single of trading hit 37.85, and the three-weeks RSI is set at 44.88 for Sunnova Energy International Inc. [NOVA]. The present Moving Average for the last 50 days of trading for this stock 16.06, while it was recorded at 16.56 for the last single week of trading, and 20.22 for the last 200 days.

Sunnova Energy International Inc. [NOVA]: A deeper dive into fundamental analysis

Sunnova Energy International Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.60.

Sunnova Energy International Inc. [NOVA]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at Sunnova Energy International Inc. [NOVA]

There are presently around $2,113 million, or 124.99% of NOVA stock, 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 $198.18 million in NOVA stocks shares; and VANGUARD GROUP INC, currently with $158.14 million in NOVA stock with ownership of nearly 1.468% of the company’s market capitalization.

119 institutional holders increased their position in Sunnova Energy International Inc. [NYSE:NOVA] by around 15,154,828 shares. Additionally, 125 investors decreased positions by around 19,634,936 shares, while 32 investors held positions by with 94,511,759 shares. The mentioned changes placed institutional holdings at 129,301,523 shares, according to the latest SEC report filing. NOVA stock had 30 new institutional investments in for a total of 1,425,318 shares, while 42 institutional investors sold positions of 4,688,853 shares during the same period.