Sunnova Energy International Inc (NYSE:NOVA) price on Thursday, January 16, rose 3.48% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $3.27.
A look at the stock’s price movement, the close in the last trading session was $3.16, moving within a range at $3.1445 and $3.41. The beta value (5-Year monthly) was 2.262. Turning to its 52-week performance, $13.00 and $2.99 were the 52-week high and 52-week low respectively. Overall, NOVA moved -18.66% over the past month.
Sunnova Energy International Inc’s market cap currently stands at around $408.59 million, with investors looking forward to this quarter’s earnings report slated for in February.
Analysts have a consensus estimate of 237.13M for the company’s revenue for the quarter, with a low and high estimate of 204.62M and 302M respectively. The average forecast suggests up to a 22.12% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 850.76M, representing a 18.05% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that NOVA is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
15 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 5 analyst(s) rate the stock as a Hold, 9 recommend NOVA as a Buy and 1 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
NOVA’s current price about -11.63% and -21.11% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 38.93, while 7-day volatility ratio is 11.51% and 11.07% in the 30-day chart. Further, Sunnova Energy International Inc (NOVA) has a beta value of 2.30, and an average true range (ATR) of 0.43. Analysts have given the company’s stock an average 52-week price target of $10, forecast between a low of $6 and high of $20. Looking at the price targets, the low is -83.49% off current price level while to achieve the yearly target high, price needs to move -511.62%. Nonetheless, investors will most likely welcome a -205.81% jump to $10 which is the analysts’ median price.
If we refocus on Sunnova Energy International Inc (NYSE:NOVA), historical trading data shows that trading volumes averaged 9.13 over the past 10 days and 10.98 million over the past 3 months. The company’s latest data on shares outstanding shows there are 124.92 million shares.
The 13.05% of Sunnova Energy International Inc’s shares are in the hands of company insiders while institutional holders own 98.38% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 34.03 million on 2024-12-31, giving us a short ratio of 3.96. The data shows that as of 2024-12-31 short interest in Sunnova Energy International Inc (NOVA) stood at 3654.9999999999995 of shares outstanding, with shares short rising to 33.99 million registered in 2024-11-29. Current price change has pushed the stock -4.66% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the NOVA stock continues to rise going into the next quarter.
