While Sunnova Energy International Inc has underperformed by -5.60%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, NOVA fell by -36.40%, with highs and lows ranging from $16.35 to $3.37, whereas the simple moving average fell by -19.06% in the last 200 days.
On October 10, 2024, Jefferies started tracking Sunnova Energy International Inc (NYSE: NOVA) recommending Buy. A report published by Piper Sandler on May 21, 2024, Downgraded its rating to ‘Neutral’ for NOVA. Wells Fargo April 19, 2024d the rating to Equal Weight on April 19, 2024, and set its price target from $11 to $6. Janney March 22, 2024d its ‘Neutral’ rating to ‘Buy’ for NOVA, as published in its report on March 22, 2024. Morgan Stanley’s report from March 04, 2024 suggests a price prediction of $14 for NOVA shares, giving the stock a ‘Equal-Weight’ rating. Janney also rated the stock as ‘Neutral’.
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Analysis of Sunnova Energy International Inc (NOVA)
Further, the quarter-over-quarter increase in sales is 18.60%, showing a positive trend in the upcoming months.
In order to gain a clear picture of Sunnova Energy International Inc’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -24.77% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 0.73, 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.
An average volume of 6.32M can be a very valuable indicator of volatility for NOVA stock. On a monthly basis, the volatility of the stock is set at 9.09%, whereas on a weekly basis, it is put at 13.84%, with a gain of 8.32% over the past seven days. Furthermore, long-term investors anticipate a median target price of $11.71, showing growth from the present price of $5.73, 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 the fundamentals, you should also consider how many employees own shares in the company. 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 13.07%. 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 104.32% 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 104.32% at present.
