Sunnova Energy International Inc (NYSE: NOVA)’s stock price has gone rise by 2.68 in comparison to its previous close of 5.97, however, the company has experienced a 7.92% increase in its stock price over the last five trading days. Zacks Investment Research reported 2024-03-27 that Sunnova’s (NOVA) partnership with The Home Depot will help it provide clean, affordable and reliable energy to customers across the United States.
Is It Worth Investing in Sunnova Energy International Inc (NYSE: NOVA) Right Now?
The stock has a 36-month beta value of 2.08. Opinions on the stock are mixed, with 18 analysts rating it as a “buy,” 6 as “overweight,” 4 as “hold,” and 0 as “sell.”
The public float for NOVA is 105.94M, and at present, short sellers hold a 34.10% of that float. On April 01, 2024, the average trading volume of NOVA was 9.08M shares.
NOVA’s Market Performance
The stock of Sunnova Energy International Inc (NOVA) has seen a 7.92% increase in the past week, with a -6.13% drop in the past month, and a -61.81% fall in the past quarter. The volatility ratio for the week is 13.05%, and the volatility levels for the past 30 days are at 11.66% for NOVA. The simple moving average for the last 20 days is 10.90% for NOVA’s stock, with a simple moving average of -50.53% for the last 200 days.
Analysts’ Opinion of NOVA
Many brokerage firms have already submitted their reports for NOVA stocks, with Janney repeating the rating for NOVA by listing it as a “Buy.” The predicted price for NOVA in the upcoming period, according to Janney is $12 based on the research report published on March 22, 2024 of the current year 2024.
Morgan Stanley, on the other hand, stated in their research note that they expect to see NOVA reach a price target of $14, previously predicting the price at $24. The rating they have provided for NOVA stocks is “Equal-Weight” according to the report published on March 04th, 2024.
NOVA Trading at -26.01% 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 -75.04% of loss for the given period.
Volatility was left at 11.66%, however, over the last 30 days, the volatility rate increased by 13.05%, as shares sank -15.80% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -39.13% lower at present.
During the last 5 trading sessions, NOVA rose by +7.92%, which changed the moving average for the period of 200-days by -66.39% in comparison to the 20-day moving average, which settled at $5.47. In addition, Sunnova Energy International Inc saw -59.80% 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 Grasso Michael P, who sale 7,409 shares at the price of $5.89 back on Mar 25 ’24. After this action, Grasso Michael P now owns 67,579 shares of Sunnova Energy International Inc, valued at $43,639 using the latest closing price.
LANE ROBERT LAWRENCE, the of Sunnova Energy International Inc, sale 6,710 shares at $5.89 during a trade that took place back on Mar 25 ’24, which means that LANE ROBERT LAWRENCE is holding 141,529 shares at $39,522 based on the most recent closing price.
Stock Fundamentals for NOVA
Current profitability levels for the company are sitting at:
- -0.3 for the present operating margin
- 0.41 for the gross margin
The net margin for Sunnova Energy International Inc stands at -0.62. The total capital return value is set at -0.02. Equity return is now at value -29.85, with -4.25 for asset returns.
Based on Sunnova Energy International Inc (NOVA), the company’s capital structure generated 0.83 points at debt to capital in total, while cash flow to debt ratio is standing at -0.03. The debt to equity ratio resting at 4.92. The interest coverage ratio of the stock is -0.59.
Currently, EBITDA for the company is 63.46 million with net debt to EBITDA at 145.22. When we switch over and look at the enterprise to sales, we see a ratio of 11.18. The receivables turnover for the company is 1.48for trailing twelve months and the total asset turnover is 0.06. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.85.
Conclusion
To sum up, Sunnova Energy International Inc (NOVA) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing 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.
