Sunnova Energy International Inc (NYSE:NOVA) shares, rose in value, with the stock price down by -9.68% to the previous day’s close as strong demand from buyers drove the stock to $4.20.
Actively observing the price movement in the last trading, the stock closed the session at $4.65. The value of beta (5-year monthly) was 2.11. Referring to stock’s 52-week performance, its high was $24.56, and the low was $4.62. On the whole, NOVA has fluctuated by -60.75% over the past month.
With the market capitalization of Sunnova Energy International Inc currently standing at about $514.42 million, investors are eagerly awaiting this quarter’s results, scheduled for Apr 24, 2024 – Apr 29, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.73, which is expected to increase to -$0.06 for fiscal year -$2.13 and then to about -$1.71 by fiscal year 2025. Data indicates that the EPS growth is expected to be 39.70% in 2025, while the next year’s EPS growth is forecast to be 19.70%.
Analysts have estimated the company’s revenue for the quarter at $198.71 million, with a low estimate of $153 million and a high estimate of $237 million. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $985.89 million, representing an increase of 36.80% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 2 upward and no downward review(s) in last seven days. We see that NOVA’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of NOVA currently trading nearly -45.55% and -57.45% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 24.95, while the 7-day volatility ratio is showing 12.31% which for the 30-day chart, stands at 11.73%. Furthermore, Sunnova Energy International Inc (NOVA)’s beta value is 2.10, and its average true range (ATR) is 0.83.
A comparison of Sunnova Energy International Inc (NOVA) with its peers suggests the former has fared considerably weaker in the market. NOVA showed an intraday change of -9.68% in last session, and over the past year, it shrunk by -73.99%%.
Data on historical trading for Sunnova Energy International Inc (NYSE:NOVA) indicates that the trading volumes over the past 10 days have averaged 12.52 million and over the past 3 months, they’ve averaged 7.84 million. According to company’s latest data on outstanding shares, there are 122.47 million shares outstanding.
Nearly 13.49% of Sunnova Energy International Inc’s shares belong to company insiders and institutional investors own 110.53% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 35.32 million shares as on Feb 29, 2024, resulting in a short ratio of 3.81. According to the data, the short interest in Sunnova Energy International Inc (NOVA) stood at 28.84% of shares outstanding as of Feb 29, 2024; the number of short shares registered in Jan 31, 2024 reached 37.3 million. The stock has fallen by -72.46% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the NOVA stock heading into the next quarter.
