Sunnova Energy International Inc (NOVA) Beta Value: Understanding the Market Risk

The 36-month beta value for NOVA is also noteworthy at 2.21.

The public float for NOVA is 106.17M, and at present, short sellers hold a 35.13% of that float. The average trading volume of NOVA on February 12, 2024 was 0.97 shares.

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NOVA) stock’s latest price update

The stock of Sunnova Energy International Inc (NYSE: NOVA) has increased by 11.68 when compared to last closing price of 20.56. Despite this, the company has experienced a 17.98% gain in its stock price over the last five trading sessions. Market Watch reported 2024-01-23 that Canadian Solar Inc.’s stock led gains among four solar power companies in the spotlight on Tuesday as it disclosed a $500 million investment from BlackRock Inc. into its Recurrent Energy unit.

NOVA’s Market Performance

Sunnova Energy International Inc (NOVA) has experienced a 17.98% rise in stock performance for the past week, with a -9.11% drop in the past month, and a 17.74% rise in the past quarter. The volatility ratio for the week is 9.70%, and the volatility levels for the past 30 days are at 9.38% for NOVA. The simple moving average for the last 20 days is -61.98% for NOVA stock, with a simple moving average of Feb 21 AMC for the last 200 days.

Analysts’ Opinion of NOVA

Many brokerage firms have already submitted their reports for NOVA stocks, with Truist repeating the rating for NOVA by listing it as a “Buy.” The predicted price for NOVA in the upcoming period, according to Truist is $18 based on the research report published on January 23, 2024 of the current year 2024.

NOVA Trading at 32.83% from the 50-Day Moving Average

After a stumble in the market that brought NOVA to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -52.44% of loss for the given period.

Volatility was left at 9.38%, however, over the last 30 days, the volatility rate increased by 9.70%, as shares sank -4.89% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +6.18% upper at present.

During the last 5 trading sessions, NOVA rose by +17.98%, which changed the moving average for the period of 200-days by -34.53% in comparison to the 20-day moving average, which settled at $10.44. In addition, Sunnova Energy International Inc saw -23.41% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at NOVA starting from Berger William J, who sale 47,150 shares at the price of $17.86 back on Aug 01. After this action, Berger William J now owns 365,222 shares of Sunnova Energy International Inc, valued at $841,991 using the latest closing price.

Mohamed Akbar, the Director of Sunnova Energy International Inc, purchase 10,000 shares at $14.37 during a trade that took place back on May 19, which means that Mohamed Akbar is holding 83,689 shares at $143,700 based on the most recent closing price.

Stock Fundamentals for NOVA

Equity return is now at value -17.92, with -2.73 for asset returns.

Conclusion

In summary, Sunnova Energy International Inc (NOVA) has had a mixed performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.

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