Sunnova Energy International Inc (NYSE:NOVA) saw an upside of 1.01% to close Monday at $10.95 after adding $0.11 on the day. The 5-day average trading volume is 5,062,080 shares of the company’s common stock. It has gained $12.47 in the past week and touched a new high 2 times within the past 5 days. An average of 3,951,910 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 4,530,290.
NOVA’s 1-month performance is -14.59% or -$2.34 on its low of $10.61 reached on 09/25/23. The company’s shares have touched a 52-week low of $10.65 and high of $25.48, with the stock’s rally to the 52-week high happening on 07/18/23. YTD, NOVA has lost -39.20% or -$7.06 and has reached a new high 8 times. However, the current price is down -57.03% from the 52-week high price.
Insider Transactions
NOVA stock investors last saw insider trading activity on Aug 01.Berger William J () most recently sold 47,150 shares at $17.86 per share on Aug 01. This transaction cost the insider $841,991., Santo Salvo John T, sold 12,679 shares at a price of $13.50 on Mar 29. Then, on Mar 23, Grasso Michael P sold 5,375 shares at a price of $13.53 per share. This transaction amounted to $72,724.
Valuation Metrics
NOVA stock has a beta of 2.11. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.98 while the price-to-book (PB) in the most recent quarter is 0.92.
Sunnova Energy International Inc’s quick ratio for the period ended June 30 was 0.98, with the current ratio over the same period at 1.29. As well, the company’s long term debt to equity for the quarter ending June 30 was 4.42, while the total debt to equity was 4.59. In terms of profitability, the gross margin trailing 12 months is 32.82%. The trailing 12-month EBITDA margin is 7.39% while for the period ending June 30, Sunnova Energy International Inc’s operating margin was -22.75%. The firm’s gross profit as reported stood at $230.61 million against revenue of $557.69 million.
Earnings Surprise
For the quarterly period ending June 30 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 57.02% to -$86.09 million, while revenue of -$81.08 million was 5.82% off the previous quarter. Analysts expected NOVA to announce -$0.42 per share in earnings in its latest quarter, but it posted -$0.74, representing a -76.20% surprise. EBITDA for the quarter stood at more than -$7.5 million. NOVA stock balance sheet for the quarter ending June 30 shows that total liabilities totaled 7.72 billion, with total debt at $6.39 billion. Shareholders hold equity totaling $116.4 million.
Let’s look briefly at Sunnova Energy International Inc (NOVA) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 25 September was 28.74% to suggest the stock is trending oversold, with historical volatility in this time period at 63.25%.
The stock’s 5-day moving average is $11.19, reflecting a -7.36% or -$0.87 change from its current price. NOVA is currently trading -17.61% above its 20-day SMA, -32.66% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -47.88% and SMA200 by-48.57%.
Stochastic %K and %D was 5.48% and 5.42% and the average true range (ATR) pointed at 0.83. The RSI (14) points at 31.73%, while the 14-day stochastic is at 9.87% with the period’s ATR at 0.86. The stock’s 9-day MACD Oscillator is pointing at -1.04 and -1.54 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Sunnova Energy International Inc (NYSE: NOVA), BMO Capital Markets downgraded it to a Market perform rating. They previously had an Outperform rating on the stock. Analysts offering their rating for NOVA stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate NOVA as a “sell,”, while 5 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 3 rates the stock as overweight while 18 have offered a “buy” rating.
What is NOVA’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $14.00 and a high of $58.00, with their median price target at $29.00. Looking at these predictions, the average price target given by analysts is for Sunnova Energy International Inc (NOVA) stock is $30.17.
