In the last trading session, 6.96 million shares of the Sunnova Energy International Inc (NYSE:NOVA) were traded, and its beta was 2.23. Most recently the company’s share price was $7.01, and it changed around -$0.43 or -5.78% from the last close, which brings the market valuation of the company to $875.27M. NOVA currently trades at a discount to its 52-week high of $16.35, offering almost -133.24% off that amount. The share price’s 52-week low was $3.37, which indicates that the current value has risen by an impressive 51.93% since then. We note from Sunnova Energy International Inc’s average daily trading volume that its 10-day average is 5.14 million shares, with the 3-month average coming to 6.13 million.
Sunnova Energy International Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.83. If we narrow it down even further, the data shows that 0 out of 26 analysts rate the stock as a Sell; another 5 rate it as Overweight. Among the rest, 8 recommended NOVA as a Hold, whereas 13 deemed it a Buy, and 0 rated it as Underweight. Sunnova Energy International Inc is expected to report earnings per share of -0.46 for the current quarter.
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Sunnova Energy International Inc (NYSE:NOVA) trade information
Instantly NOVA has showed a red trend with a performance of -5.78% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 9.89 on recent trading dayincreased the stock’s daily price by 29.12%. The company’s shares are currently down -54.03% year-to-date, but still down -28.03% over the last five days. On the other hand, Sunnova Energy International Inc (NYSE:NOVA) is -33.05% down in the 30-day period. We can see from the shorts that 36.63 million shares have been sold at a short interest cover period of 7.83 day(s).
The consensus price target as assigned by Wall Street analysts is $18.5, which translates to bulls needing to increase their stock price by 62.11% from its current value. Analyst projections state that NOVA is forecast to be at a low of $4 and a high of $65.
Sunnova Energy International Inc (NOVA) estimates and forecasts
Sunnova Energy International Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 52.72 percent over the past six months and at a 9.71% annual growth rate that is well above the industry average of -14.00%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 13.20% in revenue this quarter, and will report an increase of 64.70% in the next quarter. The year-over-year growth rate is expected to be 18.00%, up from the previous year.
Consensus estimates provided by 20 financial analysts predict the company will bring in an average of 235.94M in revenue for the current quarter. 20 analysts expect Sunnova Energy International Inc to make 242.31M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 203.01M and 194.18M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 16.20%. Forecasts for the next quarter put sales growth at 24.80%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -17.44%. Sunnova Energy International Inc earnings are expected to increase by 31.89% in 2024, but the outlook is negative -14.00% per year for the next five years.
NOVA Dividends
Sunnova Energy International Inc’s next quarterly earnings report is expected to be released on 2024-Oct-30.
Sunnova Energy International Inc (NYSE:NOVA)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 2.34% of Sunnova Energy International Inc shares, and 125.13% of them are in the hands of institutional investors. The stock currently has a share float of 128.13%. Sunnova Energy International Inc stock is held by 321.0 institutions, with BNP PARIBAS ASSET MANAGEMENT HOLDING S.A. being the largest institutional investor. By 2024-06-30, it held 11.5078% of the shares, which is about 14.14 million shares worth $78.92 million.
BLACKROCK INC., with 10.7769% or 13.24 million shares worth $73.9 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Jun 30, 2024 . The former held 3.44 shares worth $24.12 million, making up 2.76% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 2.92 shares worth around $20.44 million, which represents about 2.33% of the total shares outstanding.
