While Sunnova Energy International Inc has underperformed by -2.01%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, NOVA fell by -78.44%, with highs and lows ranging from $16.25 to $2.99, whereas the simple moving average fell by -44.59% in the last 200 days.
On December 19, 2024, TD Cowen started tracking Sunnova Energy International Inc (NYSE: NOVA) recommending Hold. A report published by RBC Capital Mkts on December 09, 2024, Downgraded its rating to ‘Sector Perform’ for NOVA. Exane BNP Paribas also Downgraded NOVA shares as ‘Underperform’, setting a target price of $3.50 on the company’s shares in a report dated November 08, 2024. Jefferies initiated its ‘Buy’ rating for NOVA, as published in its report on October 10, 2024. Piper Sandler’s report from May 21, 2024 suggests a price prediction of $4.50 for NOVA shares, giving the stock a ‘Neutral’ rating. KeyBanc Capital Markets also rated the stock as ‘Sector Weight’.
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.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Sunnova Energy International Inc’s future performance, with equity being one of the most critical indicators. 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.
As an indicator of volatility for any stock, average volume can also be very valuable, and NOVA is recording an average volume of 10.54M. On a monthly basis, the volatility of the stock is set at 10.33%, whereas on a weekly basis, it is put at 6.94%, with a loss of -7.57% over the past seven days. Furthermore, long-term investors anticipate a median target price of $9.97, showing growth from the present price of $3.42, 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?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. 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 13.03%. 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 98.63% 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 98.63% at present.
