Sunnova Energy International Inc. [NYSE: NOVA] stock went on a downward path that fall over -5.39% on Thursday, amounting to a one-week price decrease of less than -4.43%. The company report on August 14, 2023 at 9:05 AM that Sunnova Announces Pricing of Offering of Shares of Common Stock.
Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA) today announced the pricing of its underwritten public offering (the “Offering”) of 5,100,000 shares of Sunnova’s common stock, par value $0.0001 per share (the “common stock”), at a price to the public of $14.75 per share. Sunnova has granted the underwriters a 30-day option to purchase an additional 765,000 shares of common stock.
The Offering is expected to settle and close on August 16, 2023, subject to the satisfaction of customary closing conditions.
Over the last 12 months, NOVA stock dropped by -47.86%. The one-year Sunnova Energy International Inc. stock forecast points to a potential upside of 56.99. The average equity rating for NOVA stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $1.60 billion, with 116.24 million shares outstanding and 112.81 million shares in the current float. Compared to the average trading volume of 3.95M shares, NOVA stock reached a trading volume of 3454363 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 $30.62 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.
BMO Capital Markets have made an estimate for Sunnova Energy International Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on July 21, 2023.
The Average True Range (ATR) for Sunnova Energy International Inc. is set at 0.91, with the Price to Sales ratio for NOVA stock in the period of the last 12 months amounting to 2.37. The Price to Book ratio for the last quarter was 1.10, with the Price to Cash per share for the same quarter was set at 1.55.
NOVA Stock Performance Analysis:
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 -4.43. With this latest performance, NOVA shares dropped by -15.20% in over the last four-week period, additionally sinking by -27.56% over the last 6 months – not to mention a drop of -47.86% 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 37.01, with the RSI for the last a single of trading hit 36.63, and the three-weeks RSI is set at 38.30 for Sunnova Energy International Inc. [NOVA]. The present Moving Average for the last 50 days of trading for this stock 17.01, while it was recorded at 13.82 for the last single week of trading, and 17.68 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 1.00 and a Current Ratio set at 1.30.
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] Institutonal Ownership Details
The top three institutional holders of NOVA stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in NOVA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in NOVA stock with ownership which is approximately 5.7381%.