Sunnova Energy International Inc. (NYSE:NOVA) finished Thursday with a subtraction of -$0.44 to close at $12.82, a downside of -3.32 percent. An average of 4,330,800 shares of common stock have been traded in the last five days. There was a fall of -$0.68 in the past week, and it reached a new high 8 times over the past 12 months. The last 20 days have seen an average of 4,717,460 shares traded, while the 50-day average volume stands at 4,244,374.
NOVA stock has decreased by -37.46% in the last month. The company shares reached their 1-month lowest point of $12.56 on 08/24/23. With the stock rallying to its 52-week high on 07/18/23, shares of the company touched a low of $12.46 and a high of $29.13 in 52 weeks. It has reached a new high 8 times so far this year and lost -28.82% or -$5.19 in price. In spite of this, the price is down -55.99% from the 52-week high.
Insider Transactions
NOVA stock investors should be aware that Sunnova Energy International Inc. (NOVA) stock had its last reported insider trading activity 24 days ago on Aug 01. In this transaction, the insider spent $841,991., Santo Salvo John T, disposed of 12,679 shares at a price of $13.50 on Mar 29. The insider now owns more than $171,166 worth of shares. Prior to that, Grasso Michael P went on to Sale 5,375 shares at $13.53 each on Mar 23. An amount of $72,724 was transacted.
Valuation Metrics
Sunnova Energy International Inc. (NOVA) stock’s beta is 2.08. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.36, the price-to-book (PB) ratio at 1.07.
Financial Health
The quick ratio of Sunnova Energy International Inc. for the three months ended June 29 was 1.00, and the current ratio was 1.30, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 4.41 and a total debt to equity ratio of 4.58 for the quarter ending June 29. Sunnova Energy International Inc.’s EBITDA margin for the year ending June 29 is 7.39%, while its operating margin for the same period stands at -22.70%. Its gross profit as reported stood at $230.61 million compared to revenue of $557.69 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Sunnova Energy International Inc.’s return on assets was -3.00%.
Earnings Surprise
For the three-month period that ended June 29, Sunnova Energy International Inc. had $6.12 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$86.09 million in the quarter, while revenues were grew 57.02%. The analyst consensus anticipated Sunnova Energy International Inc.’s latest quarter earnings to come in at -$0.42 per share, but it turned out to be -$0.74, a -76.20% surprise. For the quarter, EBITDA amounted to -$7.5 million. Shareholders own equity worth $116.4 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Sunnova Energy International Inc. (NOVA) price momentum. RSI 9-day as of the close on 24 August was 25.95%, suggesting the stock is oversold, with historical volatility in this time frame at 59.19%.
As of today, NOVA’s price is $12.99 -5.04% or -$0.68 from its 5-day moving average. NOVA is currently trading -29.17% lower than its 20-day SMA and -17.93% lower than its 100-day SMA. However, the stock’s current price level is -32.17% below the SMA50 and -31.08% below the SMA200.
The stochastic %K and %D were 7.97% and 5.58%, respectively, and the average true range (ATR) was 0.91. With the 14-day stochastic at 6.05% and the average true range at 0.99, the RSI (14) stands at 29.34%. The stock has reached -0.81 on the 9-day MACD Oscillator while the 14-day reading was at -1.54.
Analyst Ratings
BMO Capital Markets downgraded Sunnova Energy International Inc. (NYSE: NOVA) to a a Market perform rating in its most recent analyst report. Previously, the stock was rated as an Outperform. The consensus rating for Sunnova Energy International Inc. (NOVA) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell NOVA, while 5 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 3 analysts, while 18 others rate it as a “buy”.
What is NOVA’s price target for the next 12 months?
Analysts predict a range of price targets between $18.00 and $58.00, with a median target of $29.50. Taking a look at these predictions, the average price target given by analysts for Sunnova Energy International Inc. (NOVA) stock is $30.63.
