Sunnova Energy International Inc [NYSE: NOVA] slipped around -1.13 points on Friday, while shares priced at $7.44 at the close of the session, down -13.19%. The company report on February 21, 2024 at 4:05 PM that Sunnova Reports Fourth Quarter and Full Year 2023 Financial Results.
Fourth Quarter 2023 and Recent Highlights.
Deployed over 34,000 customers in the fourth quarter; bringing total customer count to 419,200 as of December 31, 2023;.
Compared to the average trading volume of 6.21M shares, NOVA reached a trading volume of 20889501 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 $19.71 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 1.42. 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.
Northland Capital 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 February 23, 2024. While these analysts kept the previous recommendation, Truist raised their target price from $10 to $18. The new note on the price target was released on January 23, 2024, representing the official price target for Sunnova Energy International Inc stock. Previously, the target price had yet another raise from $13 to $26, while Piper Sandler kept a Overweight rating on NOVA stock.
The Average True Range (ATR) for Sunnova Energy International Inc is set at 1.17, with the Price to Sales ratio for NOVA stock in the period of the last 12 months amounting to 1.26. The Price to Book ratio for the last quarter was 0.60, with the Price to Cash per share for the same quarter was set at 2.25.
How has NOVA stock performed recently?
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 -37.58. With this latest performance, NOVA shares dropped by -27.70% in over the last four-week period, additionally sinking by -43.89% over the last 6 months – not to mention a drop of -55.95% 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 33.51, with the RSI for the last a single of trading hit 28.48, and the three-weeks RSI is set at 36.87 for Sunnova Energy International Inc [NOVA]. The present Moving Average for the last 50 days of trading for this stock 11.98, while it was recorded at 10.04 for the last single week of trading, and 13.64 for the last 200 days.
Sunnova Energy International Inc [NOVA]: Deeper insight into the fundamentals
Sunnova Energy International Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.72 and a Current Ratio set at 0.85.
Earnings analysis for Sunnova Energy International Inc [NOVA]
With the latest financial reports released by the company, Sunnova Energy International Inc posted -0.7/share EPS, while the average EPS was predicted by analysts to be reported at -0.65/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -7.70%. 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]
The top three institutional holders of NOVA stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in NOVA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in NOVA stock with ownership which is approximately 5.8325%.
