The stock price of Sunnova Energy International Inc (NYSE: NOVA) has surged by 1.08 when compared to previous closing price of 6.50, but the company has seen a -11.69% decline in its stock price over the last five trading sessions. businesswire.com reported 2024-10-03 that HOUSTON–(BUSINESS WIRE)–Sunnova Announces Third Quarter 2024 Earnings Release Date and Conference Call.
Is It Worth Investing in Sunnova Energy International Inc (NYSE: NOVA) Right Now?
Company’s 36-month beta value is 2.23.Analysts have differing opinions on the stock, with 13 analysts rating it as a “buy,” 5 as “overweight,” 8 as “hold,” and 0 as “sell.”
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The public float for NOVA is 102.44M, and currently, short sellers hold a 36.78% ratio of that floaft. The average trading volume of NOVA on October 14, 2024 was 6.27M shares.
NOVA’s Market Performance
The stock of Sunnova Energy International Inc (NOVA) has seen a -11.69% decrease in the past week, with a -38.88% drop in the past month, and a -5.06% fall in the past quarter. The volatility ratio for the week is 8.82%, and the volatility levels for the past 30 days are at 8.16% for NOVA. The simple moving average for the past 20 days is -29.59% for NOVA’s stock, with a -14.06% simple moving average for the past 200 days.
Analysts’ Opinion of NOVA
Many brokerage firms have already submitted their reports for NOVA stocks, with Jefferies repeating the rating for NOVA by listing it as a “Buy.” The predicted price for NOVA in the upcoming period, according to Jefferies is $15 based on the research report published on October 10, 2024 of the current year 2024.
Piper Sandler, on the other hand, stated in their research note that they expect to see NOVA reach a price target of $4.50, previously predicting the price at $9. The rating they have provided for NOVA stocks is “Neutral” according to the report published on May 21st, 2024.
NOVA Trading at -30.61% 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 -59.83% of loss for the given period.
Volatility was left at 8.16%, however, over the last 30 days, the volatility rate increased by 8.82%, as shares sank -42.87% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -20.84% lower at present.
During the last 5 trading sessions, NOVA fell by -11.69%, which changed the moving average for the period of 200-days by -58.42% in comparison to the 20-day moving average, which settled at $9.33. In addition, Sunnova Energy International Inc saw -56.92% 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 77,000 shares at the price of $11.31 back on Aug 23 ’24. After this action, Berger William J now owns 409,045 shares of Sunnova Energy International Inc, valued at $871,039 using the latest closing price.
Berger William J, the Officer of Sunnova Energy International Inc, proposed sale 77,000 shares at $11.30 during a trade that took place back on Aug 23 ’24, which means that Berger William J is holding shares at $870,227 based on the most recent closing price.
Stock Fundamentals for NOVA
Current profitability levels for the company are sitting at:
- -0.33 for the present operating margin
- 0.36 for the gross margin
The net margin for Sunnova Energy International Inc stands at -0.46. The total capital return value is set at -0.02. Equity return is now at value -22.59, with -3.19 for asset returns.
Based on Sunnova Energy International Inc (NOVA), the company’s capital structure generated 0.82 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 4.58. The interest coverage ratio of the stock is -0.58.
Currently, EBITDA for the company is 63.46 million with net debt to EBITDA at 215.54. When we switch over and look at the enterprise to sales, we see a ratio of 10.96. The receivables turnover for the company is 1.42for 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 0.97.
Conclusion
In a nutshell, Sunnova Energy International Inc (NOVA) has experienced a bad performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. 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.
