In the last trading session, 5.19 million Sunnova Energy International Inc (NYSE:NOVA) shares changed hands as the company’s beta touched 2.13. With the company’s per share price at $10.73 changed hands at $0.39 or 3.77% during last session, the market valuation stood at $1.31B. NOVA’s last price was a discount, traded about -128.89% off its 52-week high of $24.56. The share price had its 52-week low at $7.61, which suggests the last value was 29.08% up since then. When we look at Sunnova Energy International Inc’s average trading volume, we note the 10-day average is 5.67 million shares, with the 3-month average coming to 5.65 million.
Analysts gave the Sunnova Energy International Inc (NOVA) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.61. If we narrow down to specifics, the data shows that 0 out of 28 analysts rate the stock as a Sell, with a further 3 assigning it an Overweight rating. Of the remaining, 7 recommended NOVA as a Hold, 18 felt it is a Buy and 0 rated the stock as Underweight. Sunnova Energy International Inc’s EPS for the current quarter is expected to be -$0.1.
Sunnova Energy International Inc (NYSE:NOVA) trade information
Instantly NOVA was in green as seen at the end of in last trading. With action 23.90%, the performance over the past five days has been green. The jump to weekly highs of 11.23 on Friday, 11/17/23 added 3.77% to the stock’s daily price. The company’s shares are showing year-to-date downside of -40.42%, with the 5-day performance at 23.90% in the green. However, in the 30-day time frame, Sunnova Energy International Inc (NYSE:NOVA) is 16.50% up. Looking at the short shares, we see there were 35.92 million shares sold at short interest cover period of 4.94 days.
The consensus price target for the stock as assigned by Wall Street analysts is $20.08, meaning bulls need an upside of 46.56% from its current market value. According to analyst projections, NOVA’s forecast low is $10.00 with $58.00 as the target high. To hit the forecast high, the stock’s price needs a -440.54% plunge from its current level, while the stock would need to tank 6.8% for it to hit the projected low.
Sunnova Energy International Inc (NOVA) estimates and forecasts
Data shows that the Sunnova Energy International Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -25.17% over the past 6 months, a -11.38% in annual growth rate that is considerably lower than the industry average of 22.50%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Sunnova Energy International Inc will rise 44.40%, while the growth in revenue is estimated to hit 35.70% for the next quarter. Year-over-year growth is forecast to reach 35.00% up from the last financial year.
Consensus estimates given by 20 financial analysts project the company’s revenue in the current quarter to hit an average of $231.42 million. 14 analysts are of the opinion that Sunnova Energy International Inc’s revenue for the quarter ending Mar 2024 will be $208.62 million. The company’s revenue for the corresponding quarters a year ago was $195.59 million. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 18.30%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 0.00%. The 2023 estimates are for Sunnova Energy International Inc earnings to decrease by -41.56%, but the outlook for the next 5-year period is at -14.00% per year.
Sunnova Energy International Inc is expected to release its next quarterly earnings report on October 26.
Sunnova Energy International Inc (NYSE:NOVA)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 2.18% of Sunnova Energy International Inc shares while 127.98% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 130.84%. There are 127.98% institutions holding the Sunnova Energy International Inc stock share, with BNP Paribas Asset Management Holding S.A. the top institutional holder. As of Sep 29, 2023, the company held 12.96% of the shares, roughly 15.87 million NOVA shares worth $170.29 million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 12.93% or 15.83 million shares worth $169.9 million as of Sep 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Invesco ETF TR II-Invesco Solar ETF. With 3.07 million shares estimated at $32.99 million under it, the former controlled 2.51% of total outstanding shares. On the other hand, Invesco ETF TR II-Invesco Solar ETF held about 2.22% of the shares, roughly 2.72 million shares worth around $29.18 million.