Sunnova Energy International Inc (NYSE: NOVA) Loses -54.51% From High. Why That Could Change?

Currently, there are 122.47M common shares owned by the public and among those 102.44M shares have been available to trade.

The company’s stock has a 5-day price change of -28.39% and 25.46% over the past three months. NOVA shares are trading -51.21% year to date (YTD), with the 12-month market performance down to -22.66% lower. It has a 12-month low price of $3.37 and touched a high of $16.35 over the same period. NOVA has an average intraday trading volume of 6.06 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 -29.21%, -22.07%, and -5.61% respectively.

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Institutional ownership of Sunnova Energy International Inc (NYSE: NOVA) shares accounts for 104.70% of the company’s 122.47M shares outstanding.

It has a market capitalization of $928.96M and a beta (3y monthly) value of 2.24. The earnings-per-share (ttm) stands at -$2.90. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.33% over the week and 7.58% over the month.

Earnings per share for the fiscal year are expected to increase by 31.89%, and -7.65% 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. Piper Sandler stated their Neutral rating for the stock in a research note on May 21, 2024, with the firm’s price target at $9-$4.50. Wells Fargo was of a view on April 19, 2024 that the stock is Equal Weight, while Janney gave the stock Buy rating on March 22, 2024, issuing a price target of $12. Morgan Stanley on their part issued Equal-Weight rating on March 04, 2024.

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