Sunnova Energy International Inc (NYSE: NOVA) Seen Running Too Hot, Let’s Look At This More Closely

Currently, there are 122.47M common shares owned by the public and among those 105.96M shares have been available to trade.

The company’s stock has a 5-day price change of 29.53% and -59.14% over the past three months. NOVA shares are trading -62.03% year to date (YTD), with the 12-month market performance down to -57.21% lower. It has a 12-month low price of $3.80 and touched a high of $24.56 over the same period. NOVA has an average intraday trading volume of 8.38 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.01%, -34.06%, and -54.17% respectively.

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Institutional ownership of Sunnova Energy International Inc (NYSE: NOVA) shares accounts for 110.34% of the company’s 122.47M shares outstanding.

It has a market capitalization of $709.16M and a beta (3y monthly) value of 2.08. The earnings-per-share (ttm) stands at -$3.51. Price movements for the stock have been influenced by the stock’s volatility, which stands at 13.76% over the week and 11.82% over the month.

Analysts forecast that Sunnova Energy International Inc (NOVA) will achieve an EPS of -$0.75 for the current quarter, -$0.54 for the next quarter and -$1.82 for 2025. The lowest estimate earnings-per-share for the quarter is -$1.32 while analysts give the company a high EPS estimate of -$0.13. Comparatively, EPS for the current quarter was -$0.7 a year ago. Earnings per share for the fiscal year are expected to increase by 26.94%, and 10.82% over the next financial year. EPS should grow at an annualized rate of -14.00% over the next five years, compared to -17.44% over the past 5-year period.

Looking at the support for the NOVA, a number of firms have released research notes about the stock. Janney stated their Buy rating for the stock in a research note on March 22, 2024, with the firm’s price target at $12. Morgan Stanley coverage for the Sunnova Energy International Inc (NOVA) stock in a research note released on March 04, 2024 offered a Equal-Weight rating with a price target of $14. Janney was of a view on February 27, 2024 that the stock is Neutral, while Northland Capital gave the stock Market Perform rating on February 23, 2024, issuing a price target of $12- $9. Truist on their part issued Buy rating on January 23, 2024.

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