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Risk-Tolerant Investors Should Take A Chance On Sunnova Energy International Inc. (NYSE: NOVA)

During the last session, Sunnova Energy International Inc. (NYSE:NOVA)’s traded shares were 2.94 million, with the beta value of the company hitting 2.10. At the end of the trading day, the stock’s price was $16.18, reflecting an intraday gain of 0.25% or $0.04. The 52-week high for the NOVA share is $31.47, that puts it down -94.5 from that peak though still a striking 22.99% gain since the share price plummeted to a 52-week low of $12.46. The company’s market capitalization is $2.01B, and the average intraday trading volume over the past 10 days was 3.68 million shares, and the average trade volume was 4.61 million shares over the past three months.

Sunnova Energy International Inc. (NOVA) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.90. NOVA has a Sell rating from 0 analyst(s) out of 25 analysts who have looked at this stock. 3 analyst(s) recommend to Hold the stock while 3 suggest Overweight, and 19 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.48.

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Sunnova Energy International Inc. (NYSE:NOVA) trade information

Sunnova Energy International Inc. (NOVA) registered a 0.25% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 0.25% in intraday trading to $16.18 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is 5.75%, and it has moved by -0.86% in 30 days. Based on these gigs, the overall price performance for the year is -5.27%. The short interest in Sunnova Energy International Inc. (NYSE:NOVA) is 23.99 million shares and it means that shorts have 4.57 day(s) to cover.

The consensus price target of analysts on Wall Street is $33.87, which implies an increase of 52.23% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $19.00 and $63.00 respectively. As a result, NOVA is trading at a discount of -289.37% off the target high and -17.43% off the low.

Sunnova Energy International Inc. (NOVA) estimates and forecasts

Statistics show that Sunnova Energy International Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Sunnova Energy International Inc. (NOVA) shares have gone down -28.02% during the last six months, with a year-to-date growth rate less than the industry average at 23.95% against 30.50. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -50.00% this quarter and then jump 50.00% in the quarter after that. In the rating firms’ projections, revenue will increase 47.50% compared to the previous financial year.

Revenue for the current quarter is expected to be $196.66 million as predicted by 19 analyst(s). Meanwhile, a consensus of 19 analyst(s) estimates revenue growth to $225.2 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $147.01 million and $131.32 million respectively. In this case, analysts expect current quarter sales to grow by 33.80% and then jump by 71.50% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -0.20%. While earnings are projected to return -13.40% in 2023, the next five years will return -14.00% per annum.

NOVA Dividends

Sunnova Energy International Inc. is due to release its next quarterly earnings between July 25 and July 31. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Sunnova Energy International Inc. (NYSE:NOVA)’s Major holders

Sunnova Energy International Inc. insiders own 2.15% of total outstanding shares while institutional holders control 124.99%, with the float percentage being 127.74%. Blackrock Inc. is the largest shareholder of the company, while 387 institutions own stock in it. As of Mar 30, 2023, the company held over 17.26 million shares (or 14.84% of all shares), a total value of $269.62 million in shares.

The next largest institutional holding, with 13.76 million shares, is of BNP Paribas Asset Management Holding S.A.’s that is approximately 11.83% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $214.92 million.

Also, the Mutual Funds coming in first place with the largest holdings of Sunnova Energy International Inc. (NOVA) shares are Invesco ETF TR II-Invesco Solar ETF and Vanguard Total Stock Market Index Fund. Data provided on Mar 30, 2023 indicates that Invesco ETF TR II-Invesco Solar ETF owns about 3.32 million shares. This amounts to just over 2.89 percent of the company’s overall shares, with a $51.93 million market value. The same data shows that the other fund manager holds slightly less at 2.97 million, or about 2.59% of the stock, which is worth about $53.58 million.

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