BNP Paribas Asset Management UK L has recently announced that it has increased stake in Sunnova Energy International Inc (NYSE:NOVA) by 33.31%. After grabbing 15.87 million shares, the institutional investor is now in possession of 3.97 million shares of the Technology Company. The new investment brought the stake of investor firm to 12.96% having worth around $184.1 million. Moreover, Pictet Asset Management SA increased its share by 10.32 million to have a control over 10.32 million shares. And The Vanguard Group, Inc. raised its holdings to 0.38 million shares by acquiring 10.04 million shares or 8.20% of the stake.
Sunnova Energy International Inc (NOVA) concluded trading on 01/03/24 at a closing price of $14.57, with 4.13 million shares of worth about $60.22 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -21.07% during that period and on Wednesday the price saw a loss of about -4.52%. Currently the company’s common shares owned by public are about 114.94M shares, out of which, 106.17M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 46 times over the past 12 months. They bought 394,700 shares in 30 of the transactions. In 16 selling transactions, insiders dumped 152,908 shares.
BNP Paribas Funds – Energy Transi, Handelsbanken Hallbar Energi, and BlackRock Global Funds SICAV – Su are the top 3 mutual funds which are holding stakes in Sunnova Energy International Inc BNP Paribas Funds – Energy Transi is currently holding 12.11 million shares of worth totaling $140.48 million. The company recently came selling -2.37 million shares which brought its stake up to 9.89% of the company’s outstanding shares. BlackRock Global Funds SICAV – Su, after selling 3.3 million shares, have now control over 2.70% of the stake in the company. It holds -0.85 million shares of worth $38.33 million.
Sunnova Energy International Inc (NYSE: NOVA) started trading at $14.78, below -$0.48 from concluding price of the previous day. However, the stock later moved at a day high price of 14.83, or with a loss of -4.52%. Stock saw a price change of -7.78% in past 5 days and over the past one month there was a price change of 15.82%. Year-to-date (YTD), NOVA shares are showing a performance of -4.46% which decreased to -19.10% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $7.61 but also hit the highest price of $24.56 during that period. The average intraday trading volume for Sunnova Energy International Inc shares is 6.20 million. The stock is currently trading 7.56% above its 20-day simple moving average (SMA20), while that difference is up 28.30% for SMA50 and it goes to 0.83% higher than SMA200.
BNP Paribas Asset Management UK L acquired 15.87 million shares of Sunnova Energy International Inc having value of about $184.1 million. Data submitted at the U.S SEC by BNP Paribas Asset Management UK L revealed that the firm now holds 3.97 million shares in the company valued at close to $57783163.0, or have control over 33.31% stake in the company. Sunnova Energy International Inc (NYSE: NOVA) currently have 114.94M outstanding shares and institutions hold larger chunk of about 110.96% of that. Holding of mutual funds in the company is about 51.48% while other institutional holders and individual stake holders have control over 62.52% and 30.43% of the stake respectively.
The stock has a current market capitalization of $1.78B and its 3Y-monthly beta is at 2.23. It has posted earnings per share of -$2.16 in the same period. It has Quick Ratio of 0.99 while making debt-to-equity ratio of 4.62. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for NOVA, volatility over the week remained 5.32% while standing at 8.71% over the month.
Analysts are in expectations that Sunnova Energy International Inc (NOVA) stock would likely to be making an EPS of -$0.13 in the current quarter, while forecast for next quarter EPS is -$0.47 and it is -$1.59 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.78 which is $1.43 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.18 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -45.57% while it is estimated to increase by 16.74% in next year. EPS is likely to shrink at an annualized rate of -14.00% for next 5-years, compared to annual growth of 0.00% made by the stock over the past 5-years.
Analysts at 28 brokerage firms have issued recommendations for the Sunnova Energy International Inc (NOVA)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.46. Out of those 28 Wall Street analysts, 20 recommended a “Buy” rating, while 5 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Piper Sandler on December 19, 2023 offering an Overweight rating for the stock and assigned a target price range of between $13 and $26 to it.
