Sunnova Energy International Inc. (NYSE:NOVA) shares, rose in value on Thursday, 05/12/22, with the stock price up by 3.09% to the previous day’s close as strong demand from buyers drove the stock to $13.66.
Actively observing the price movement in the last trading, the stock closed the session at $13.25, falling within a range of $12.47 and $14.00. The value of beta (5-year monthly) was 2.21. Referring to stock’s 52-week performance, its high was $46.40, and the low was $13.18. On the whole, NOVA has fluctuated by -36.14% over the past month.
With the market capitalization of Sunnova Energy International Inc. currently standing at about $1.65 billion, investors are eagerly awaiting this quarter’s results, scheduled for Jul 26, 2022 – Aug 01, 2022. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.18, which is expected to increase to $0.88 for fiscal year -$0.77 and then to about -$0.41 by fiscal year 2023. Data indicates that the EPS growth is expected to be 38.40% in 2023, while the next year’s EPS growth is forecast to be 46.80%.
Analysts have estimated the company’s revenue for the quarter at $87.73 million, with a low estimate of $79 million and a high estimate of $100 million. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $350.73 million, representing an increase of 45.10% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that NOVA’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of NOVA currently trading nearly -21.98% and -35.13% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 30.71, while the 7-day volatility ratio is showing 11.61% which for the 30-day chart, stands at 9.24%. Furthermore, Sunnova Energy International Inc. (NOVA)’s average true range (ATR) is 1.62.
A comparison of Sunnova Energy International Inc. (NOVA) with its peers suggests the former has fared considerably weaker in the market. NOVA showed an intraday change of 3.09% in last session, and over the past year, it shrunk by -49.03%%. On the other hand, the price of General Electric Company (GE) has risen 1.16% on the day. The stock, however, is off -29.38% from where it was a year ago. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -0.13%. Meanwhile, the Dow Jones Industrial Slipped by -0.33%.
Data on historical trading for Sunnova Energy International Inc. (NYSE:NOVA) indicates that the trading volumes over the past 3 months, they’ve averaged 2.91 million. According to company’s latest data on outstanding shares, there are 113.50 million shares outstanding.
The stock has fallen by -51.07% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the NOVA stock heading into the next quarter.