Sunnova Energy International Inc. (NYSE:NOVA) traded at $20.52 at close of the session on Monday, 01/23/23, made an upward move of 5.56% on its previous day’s price.
Looking at the stock we see that its previous close was $19.44 and the beta (5Y monthly) reads 2.25 with the day’s price range being $19.07 – $21.005. In terms of its 52-week price range, NOVA has a high of $31.47 and a low of $12.47. The company’s stock has gained about 5.94% over that past 30 days.
Sunnova Energy International Inc. has a market cap of $2.31 billion and is expected to release its quarterly earnings report on Feb 21, 2023 – Feb 27, 2023. Estimates by analysts give the company expected earnings per share (EPS) of -$0.37, with the EPS growth for the year raised at -$1.28 for 2022 and -$1.16 for next year. These figures represent -2.40% and 9.40% growth in EPS for the two years respectively.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $134.84 million, with a low of $90.6 million and a high of $182.84 million. The median projection represents growth squeezing down to 107.40% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $494.09 million, or 104.40% up from figures reported last year.
There have been 4 upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the NOVA stock, short term indicators assign the stock an average of 50% Sell, while medium term indicators assign it an average of 100% Sell. Long term indicators on average place the stock in the category of 50% Sell.
Based on estimates by 24 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 3 have rated the Sunnova Energy International Inc. (NOVA) stock as a Hold, while 19 rate it as a Buy. 2 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.
Looking further, we note the current price level is 8.97% off its SMA20 and -0.63% from its 50-day simple moving average. The RSI (14) is pointing at 53.62 while the volatility over the past week is 9.08% and jumps to 7.01% over the past one month. The beta value is 2.13, while the average true range (ATR) is currently pointing at 1.48. The average price target for the stock over the next 12 months is $36.73, with the estimates having a low of $24.00 and a high of $51.00. These price ends are -16.96% and -148.54% off the current price level respectively, although investors could be excited at the prospect of a -73.0% if the NOVA share price touches on the median price of $35.50.
Let’s briefly compare Sunnova Energy International Inc. (NOVA) stock to its peers. We find that current price change of 5.56% and -7.28% over the past 12 months for NOVA. Another of its peers General Electric Company (GE) has gained 2.69% previous session, and was 4.05% up over the past year. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial were at 1.19% and 0.76%, respectively, at close of the trading.
Coming back to Sunnova Energy International Inc. (NYSE:NOVA), we note that the average 3-month trading volume was 3.16 million, while that of the preceding 10-day period stands at 3.66 million. Current shares outstanding are 114.82 million.
The insiders hold 0.70% of the company’s shares. The data shows that short shares as of Dec 29, 2022, stood at 23.3 million at a short ratio of 10.11. This represents a 20.28% short interest in shares outstanding on Dec 29, 2022. Shares short rose in December from the previous month at 21.94 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 13.94% up in year-to-date price movement.