While Sunnova Energy International Inc has underperformed by -3.91%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, NOVA fell by -5.22%, with highs and lows ranging from $16.35 to $3.37, whereas the simple moving average jumped by 38.51% in the last 200 days.
On May 21, 2024, Piper Sandler Downgraded Sunnova Energy International Inc (NYSE: NOVA) to Neutral. A report published by KeyBanc Capital Markets on April 23, 2024, Downgraded its rating to ‘Sector Weight’ for NOVA. Wells Fargo also Downgraded NOVA shares as ‘Equal Weight’, setting a target price of $6 on the company’s shares in a report dated April 19, 2024. Morgan Stanley March 04, 2024d its ‘Overweight’ rating to ‘Equal-Weight’ for NOVA, as published in its report on March 04, 2024. Northland Capital also rated the stock as ‘Market Perform’.
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Analysis of Sunnova Energy International Inc (NOVA)
Further, the quarter-over-quarter increase in sales is 31.99%, showing a positive trend in the upcoming months.
Sunnova Energy International Inc’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. The goal here is to ensure that your current return on equity of -22.59% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 0.85, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
The average volume for any stock is also a very valuable indicator of volatility, and NOVA has an average volume of 6.54M. On a monthly basis, the volatility of the stock is set at 7.66%, whereas on a weekly basis, it is put at 8.09%, with a loss of -3.74% over the past seven days. Furthermore, long-term investors anticipate a median target price of $12.33, showing growth from the present price of $11.07, which can serve as yet another indication of whether NOVA is worth investing in or should be passed over.
How Do You Analyze Sunnova Energy International Inc Shares?
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 17.96%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 104.39% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
NOVA shares are owned by institutional investors to the tune of 104.39% at present.
