Sunnova Energy International Inc (NYSE: NOVA)’s stock price has gone rise by 0.53 in comparison to its previous close of 3.78, however, the company has experienced a -9.74% decrease in its stock price over the last five trading days. Business Wire reported 2024-04-10 that HOUSTON–(BUSINESS WIRE)–Sunnova Announces First Quarter 2024 Earnings Release Date and Conference Call.
Is It Worth Investing in Sunnova Energy International Inc (NYSE: NOVA) Right Now?
Additionally, the 36-month beta value for NOVA is 2.18. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for NOVA is 105.94M and currently, short sellers hold a 37.10% ratio of that float. The average trading volume of NOVA on April 22, 2024 was 10.06M shares.
NOVA’s Market Performance
NOVA stock saw a decrease of -9.74% in the past week, with a monthly decline of -20.17% and a quarterly a decrease of -61.96%. The volatility ratio for the week is 9.64%, and the volatility levels for the last 30 days are 12.38% for Sunnova Energy International Inc (NOVA). The simple moving average for the past 20 days is -23.69% for NOVA’s stock, with a -66.54% simple moving average for the past 200 days.
Analysts’ Opinion of NOVA
Many brokerage firms have already submitted their reports for NOVA stocks, with Wells Fargo repeating the rating for NOVA by listing it as a “Equal Weight.” The predicted price for NOVA in the upcoming period, according to Wells Fargo is $6 based on the research report published on April 19, 2024 of the current year 2024.
Janney, on the other hand, stated in their research note that they expect to see NOVA reach a price target of $12. The rating they have provided for NOVA stocks is “Buy” according to the report published on March 22nd, 2024.
Morgan Stanley gave a rating of “Equal-Weight” to NOVA, setting the target price at $14 in the report published on March 04th of the current year.
NOVA Trading at -42.76% 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 -84.53% of loss for the given period.
Volatility was left at 12.38%, however, over the last 30 days, the volatility rate increased by 9.64%, as shares sank -33.10% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -63.29% lower at present.
During the last 5 trading sessions, NOVA fell by -9.74%, which changed the moving average for the period of 200-days by -79.41% in comparison to the 20-day moving average, which settled at $4.89. In addition, Sunnova Energy International Inc saw -75.08% 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 10.78. 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
In conclusion, Sunnova Energy International Inc (NOVA) has seen bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it 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.
