On Wednesday, shares of Sunnova Energy International Inc. (NYSE:NOVA) marked $26.74 per share versus a previous $30.77 closing price. With having a -13.10% loss, an insight into the fundamental values of Sunnova Energy International Inc., investors would also find a great ally in the technical patterns of the stock movements showed in stock charts. NOVA showed a rise of 139.61% within its YTD performance, with highs and lows between $6.12 – $33.01 during the period of 52 weeks, compared to the simple moving average of 47.20% in the period of the last 200 days.
Piper Sandler equity researchers changed the status of Sunnova Energy International Inc. (NYSE: NOVA) shares to a “Overweight” rating in the report published on October 7th, 2020. Other analysts, including JP Morgan, also published their reports on NOVA shares. JP Morgan repeated the rating from the previous report, marking NOVA under “Overweight” rating, in the report published on September 30th, 2020. Additionally, NOVA shares got another “Buy” rating from B. Riley FBR, setting a target price of $30 on the company’s shares, according to the report published in September 23rd, 2020. On July 22nd, 2020, BofA Securities Upgrade an Buy rating and increased its price target to $25. On the other hand, Credit Suisse Upgrade the “Outperform” rating for NOVA shares, as published in the report on June 15th, 2020. BofA/Merrill seems to be going bullish on the price of NOVA shares, based on the price prediction for NOVA, indicating that the shares will jump to $15, giving the shares “Neutral” rating based on their report from May 20th, 2020. Another “Neutral” rating came from Credit Suisse, providing a prediction for $15 price target according to the report published in May 19th, 2020.
[bold-text]Sunnova Energy International Inc. (NOVA) Analysis[/bold-text]
The present dividend yield for NOVA owners is set at 0, marking the return investors will get regardless of the company’s performance in the upcoming period. In addition, the growth of sales from quarter to quarter is recording 23.70%, hinting the company’s progress in the upcoming progress.
In order to gain a clear insight on the performance of Sunnova Energy International Inc. (NOVA) as it may occur in the future, there are more than several well-rounded types of analysis and research techniques, while equity is most certainly one of the more important indicators into the company’s growth and performance. In this case, you want to make sure that the return on the present equity of -24.00% is enough for you to make a profit out of your investment. You may also count in the quick ratio of the company, currently set at 0.90 so you would make sure that the company is able to cover the debts it may have, which can be easily seen in annual reports of the company.
Set to affect the volatility of a given stock, the average volume can also be a valuable indicator, while NOVA is currently recording an average of 1.74M in volumes. The volatility of the stock on monthly basis is set at 8.29%, while the weekly volatility levels are marked at 9.44%with -9.78% of loss in the last seven days. Additionally, long-term investors are predicting the target price of $33.82, indicating growth from the present price of $26.74, which can represent yet another valuable research and analysis points that can help you decide whether to invest in NOVA or pass.
[bold-text]What to Look for When Analyzing Sunnova Energy International Inc. Shares?[/bold-text]
Sunnova Energy International Inc. (NOVA) is based in the USA and it represents one of the well-known company operating with Technology sector. If you wish to compare NOVA shares with other companies under Electronic Equipment and Consumer Goods, a factor to note is the P/E value of for Sunnova Energy International Inc., while the value can represent an indicator in the future growth of the company in terms of investor’s expectations. The later value should have a steady growth rate, increasing and growing gradually, which serves the purpose of reliably showcasing the progress of the company. The value -1.97 is supported by the yearly EPS growth of -164.60%.
Besides from looking into the fundamentals, you should also note the number of people inside the company owning the shares, as the values should be in line with the expectations of investors. In that spirit, the present ownership of stocks inside the company is set at 0.30%, which can provide you with an insight of how involved executives are in owning shares of the company. In oppose to the executives’ share, the institutional ownership counts 93.70% of shares, carrying an equal significance as an indicator of value, as the presence of large investors may signal a strong company.
[bold-text]Are Institutional Investors Increasing Stakes in NOVA Shares?[/bold-text]
It appears that more than several institutional investors and hedge funds decided to increase stakes in NOVA in the recent period. That is how Clal Pension & Provident Funds Lt now has an increase position in NOVA by 20.85% in the first quarter, owning 4.41 million shares of NOVA stocks, with the value of $134.24 million after the purchase of an additional 761,591 shares during the last quarter. In the meanwhile, Handelsbanken Fonder AB also increased their stake in NOVA shares changed 2.84% in the first quarter, which means that the company now owns 2.98 million shares of company, all valued at $90.71 million after the acquisition of additional 82,283 shares during the last quarter.
Wellington Management Co. LLP acquired a new position in Sunnova Energy International Inc. during the first quarter, with the value of $82.02 million, and BlackRock Fund Advisors increased their stake in the company’s shares by 8.89% in the first quarter, now owning 133,946 shares valued at $49.87 million after the acquisition of the additional 1.64 million shares during the last quarter. In the end, Invesco Capital Management LLC increased their position by 92.71% during the first quarter, now owning 1.44 million NOVA shares, now holding the value of $43.74 million in NOVA with the purchase of the additional 257,389 shares during the period of the last quarter. At the present, 93.70% of NOVA shares are in the ownership of institutional investors.