Sunnova Energy International Inc [NOVA] stock is trading at $6.13, up 2.68%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The NOVA shares have gain 7.92% over the last week, with a monthly amount drifted -6.13%, and not seem to be holding up well over a long-time horizon.
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On 26, March 2024, Sunnova Selected as Exclusive National Solar and Battery Storage Services Provider for The Home Depot, Bringing Solar and Battery Storage to Homeowners Nationwide. In a post published today on Yahoo Finance, Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA), a leading adaptive energy services company, announced today that it has entered a strategic partnership with The Home Depot whereby Sunnova will now be the sole provider of solar and battery storage services in The Home Depot stores across the United States and its territories. This groundbreaking agreement will provide consumers with access to the Sunnova Adaptive Home™ energy offerings in over 2,000 Home Depot stores.
From an analyst’s perspective:
Sunnova Energy International Inc [NYSE: NOVA] stock has seen the most recent analyst activity on March 22, 2024, when Janney upgraded its rating to a Buy but kept the price target unchanged to $12 for it. Previously, Morgan Stanley downgraded its rating to Equal-Weight on March 04, 2024, and dropped its price target to $14. On February 27, 2024, downgrade downgraded it’s rating to Neutral. Northland Capital downgraded its rating to a Market Perform and decreased its price target to $9 on February 23, 2024. Truist upgraded its rating to a Buy and raised its price target to $18 on January 23, 2024. Piper Sandler upgraded its rating to Overweight for this stock on December 19, 2023, and upped its price target to $26. In a note dated December 18, 2023, Goldman upgraded an Buy rating on this stock but restated the target price of $17.
Sunnova Energy International Inc [NOVA] stock has fluctuated between $3.80 and $24.56 over the past year. Currently, Wall Street analysts expect the stock to reach $34.7 within the next 12 months. Sunnova Energy International Inc [NYSE: NOVA] shares were valued at $6.13 at the most recent close of the market. An investor can expect a potential return of 466.07% based on the average NOVA price forecast.
Analyzing the NOVA fundamentals
Sunnova Energy International Inc [NYSE:NOVA] reported sales of 720.65M for the trailing twelve months, which represents a drop of -0.72%. Gross Profit Margin for this corporation currently stands at 0.41% with Operating Profit Margin at -0.3%, Pretax Profit Margin comes in at -0.7%, and Net Profit Margin reading is -0.62%. To continue investigating profitability, this company’s Return on Assets is posted at -0.04, Equity is -0.31 and Total Capital is -0.02. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 4.92.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 5.94 points at the first support level, and at 5.75 for the second support level. However, for the 1st resistance point, the stock is sitting at 6.28, and for the 2nd resistance point, it is at 6.43.
Sunnova Energy International Inc [NOVA] reported earnings per share of -$1.53 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.18/share, meaning a difference of -$1.35 and a surprise factor of -750.00%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were -$0.53 per share as compared to estimates of -$0.23 per share, a difference of -$0.3 representing a surprise of -130.40%.
Ratios To Look Out For
For context, Sunnova Energy International Inc’s Current Ratio is 0.85. Also, the Quick Ratio is 0.72, while the Cash Ratio stands at 0.19. Considering the valuation of this stock, the price to sales ratio is 1.04, the price to book ratio is 0.49.
Transactions by insiders
Recent insider trading involved Grasso Michael P, that happened on Mar 25 ’24 when 7409.0 shares were sold., LANE ROBERT LAWRENCE completed a deal on Mar 25 ’24 to sell 6710.0 shares. Meanwhile, Nutting Meghan sold 2917.0 shares on Mar 25 ’24.
