Sunnova Energy International Inc (NYSE:NOVA) price closed higher on Tuesday, March 26, jumping 3.15% above its previous close.
A look at the daily price movement shows that the last close reads $5.39. The company’s 5Y monthly beta was ticking 2.11. Taking into account the 52-week price action we note that the stock hit a 52-week high of $24.56 and 52-week low of $3.80. The stock subtracted -19.77% on its value in the past month.
Sunnova Energy International Inc, which has a market valuation of $680.99 million, is expected to release its quarterly earnings report Apr 24, 2024 – Apr 29, 2024. Analysts tracking NOVA have forecast the quarterly EPS to shrink by -0.75 per share this quarter, while the same analysts predict the annual EPS to hit -$2.21 for the year 2024 and up to -$1.82 for 2025. In this case, analysts estimate an annual EPS growth of 37.40% for the year and 17.60% for the next year.
On average, analysts have forecast the company’s revenue for the quarter will hit $198.39 million, with the likely lows of $153 million and highs of $237 million. Staying with the analyst view, there is a consensus estimate of $983.44 million for the company’s annual revenue in 2024. Per this projection, the revenue is forecast to grow 36.50% above that which the company brought in 2024.
Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give NOVA a short term outlook of 75% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Sell, while an average of long term indicators are currently assigning the stock as 100% Sell.
The overview shows that NOVA’s price is at present -1.24% off the SMA20 and -34.60% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 41.66, with weekly volatility standing at 15.65%. The indicator jumps to 11.35% when calculated based on the past 30 days. Sunnova Energy International Inc (NYSE:NOVA)’s beta value is holding at 2.08, while the average true range (ATR) indicator is currently reading 0.77.
An analysis of the Sunnova Energy International Inc (NYSE:NOVA) stock in terms of its daily trading volume indicates that the 3-month average is 8.72 million. However, this figure increases on the past 10-day timeline to an average of 14.4 million.
Current records show that the company has 122.47M in outstanding shares. The insiders’ percentage holdings are 13.49% of outstanding shares while the percentage share held by institutions stands at 110.28%. The stats also highlight that short interest as of Feb 29, 2024, stood at 35.32 million shares, which puts the short ratio at the time at 3.81. From this we can glean that short interest is 28.84% of company’s current outstanding shares. Notably, we see that shares short in February fall slightly given the previous month’s figure stood at 37.3 million. But the -63.54% downside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.
