Sunnova Energy International Inc (NYSE: NOVA) stock jumped 3.77% on Friday to $10.73 against a previous-day closing price of $10.34. With 5.19 million shares changed hands, the volume of the stock remained lighter than its average volume of 5.65 million shares. During the session, the Solar company that operates in wider Technology sector, reached to the highest price of $10.76 whereas the lowest price it dropped to was $9.90. The 52-week range on NOVA shows that it touched its highest point at $24.56 and its lowest point at $7.61 during that stretch. It currently has a 1-year price target of $20.08. Beta for the stock currently stands at 2.13.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NOVA was up-trending over the past week, with a rise of 23.90%, but this was up by 16.50% over a month. Three-month performance dropped to -15.71% while six-month performance fell -25.17%. The stock lost -54.18% in the past year, while it has lost -40.42% so far this year. A look at the trailing 12-month EPS for NOVA yields -2.16 with Next year EPS estimates of -1.78. For the next quarter, that number is -0.16. This implies an EPS growth rate of -41.56% for this year and 11.05% for next year. EPS is expected to decline by -14.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 0.00%.
Float and Shares Shorts:
At present, 114.94 million NOVA shares are outstanding with a float of 106.17 million shares on hand for trading. On Oct 30, 2023, short shares totaled 35.92 million, which was 29.34% higher than short shares on Sep 28, 2023. In addition to Mr. William Jackson Berger as the firm’s Chairman, President & CEO, Mr. Robert Lawrence Lane serves as its Executive VP & CFO.
Institutional Ownership:
Through their ownership of 127.98% of NOVA’s outstanding shares, institutional investors have majority control over the company.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NOVA since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With NOVA analysts setting a high price target of $58.00 and a low target of $10.00, the average target price over the next 12 months is $20.08. Based on these targets, NOVA could surge 440.54% to reach the target high and fall by -6.8% to reach the target low. Reaching the average price target will result in a growth of 87.14% from current levels.
Summary of Insider Activity:
Insiders traded NOVA stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 30 while that of sell transactions has risen to 16 over the past year. The total number of shares bought during that period was 394,700 while 152,908 shares were sold.
