The stock of Sunnova Energy International Inc. (NYSE:NOVA) decreased by -$0.11 on Monday to $13.18, down -0.83 percent. The last five days have seen an average of 3,501,548 shares of common stock traded. 8 times new highs were reached in the current year, with a fall of -$4.73. The average number of shares traded over the last 20 days was 4,460,587, while the average volume over the last 50 days totaled 4,202,293.
NOVA stock dropped -26.53% since last month. On 08/24/23, the company’s shares reached a one-month low of $12.56. The stock touched a high of $29.13 on 07/18/23, after rallying from a low of $12.46 in 52 weeks. The price of NOVA stock has declined by -26.82% or -$4.73 this year, reaching a new high 8 times. Still, the stock price is down -54.75% 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 27 days ago on Aug 01. On Aug 01, Berger William J sold 47,150 shares at $17.86 each. This transaction resulted in the insider making $841,991. On May 19, Mohamed Akbar added 10,000 shares at a price of US$14.37. After the transaction, the insider now owns 83,689 shares. Berger William J had earlier bought 600 shares on Mar 31 for $15.58 a share. The transaction was completed for $9,348.
Valuation Metrics
Beta for the stock is 2.08. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 2.31, the price-to-book (PB) ratio of 1.10.
Financial Health
For the three months ended June 29, Sunnova Energy International Inc.’s quick ratio was 1.00, while its current ratio was 1.30, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 4.41, and the total debt to equity ratio is 4.58. As far as profitability goes, gross margin for the trailing twelve months is 40.10% percent. Sunnova Energy International Inc.’s EBITDA margin for the year ended June 29 was 7.39%, whereas its operating margin stood at -22.70% for the same period. Based on annual data, it had gross profit of $230.61 million and revenue of $557.69 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. NOVA’s return on assets (ROA) during the last 12 months has been -3.00%. There was a -1.30% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -19.90%.
Earnings Surprise
According to Sunnova Energy International Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $166.38 million, while revenues rose by 11.64% to $161.7 million. It was predicted that Sunnova Energy International Inc.’s quarterly earnings would be -$0.74, but it ended up being -$0.42, beating the consensus by -76.20%. EBITDA was -$7.5 million for the quarter. At the end of Sunnova Energy International Inc.’s most recent quarter ended June 29, its liabilities totaled 7.72 billion, while its total debt was $6.39 billion. Equity owned by shareholders amounts to $116.4 million.
Technical Picture
Here’s a quick look at Sunnova Energy International Inc.’s (NOVA) price momentum from a technical perspective. As of 25 August, the RSI 9-day stood at 33.32%, suggesting the stock is Neutral, with a 51.89% historical volatility rate.
The stochastic %K and %D were 13.40% and 11.33% respectively, while the average true range (ATR) was 0.85. Based on the 14-day stochastic reading of 16.96%, the RSI (14) reading is 33.59%. On the 9-day MACD Oscillator, the stock is at -0.12, and the 14-day reading is at -1.03.
Analyst Ratings
Sunnova Energy International Inc. (NYSE: NOVA) was downgraded by BMO Capital Markets to a a Market perform rating in its latest research report. The stock was previously rated as a an Outperform. Analysts have assigned Sunnova Energy International Inc. (NOVA) an Overweight rating. NOVA is a stock that is recommended for selling by 0 brokerage firms, while 5 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 3 rates it overweight and 18 others recommend it as a buy.
What is NOVA’s price target for the next 12 months?
The current consensus forecast for the stock is between $18.00 and $58.00, with a median target price of $29.50. In analyzing these forecasts, the average price target given by analysts for Sunnova Energy International Inc. (NOVA) is $30.63.
