Sunnova Energy International Inc. (NYSE:NOVA) shares fell to a low of $39.15 before closing at $40.96. Intraday shares traded counted 3.23 million, which was -55.52% lower than its 30-day average trading volume of 2.08M. NOVA’s previous close was $42.97 while the outstanding shares total 87.77M. The stock’s Relative Strength Index (RSI) is 59.25, with weekly volatility at 7.81% and ATR at 3.08. The NOVA stock’s 52-week price range has touched low of $6.12 and a $46.00 high. The stock traded lower over the last trading session, losing -4.68% on 12/16/20.
Investors have identified the Solar company Sunnova Energy International Inc. as an interesting stock but before investments are made there, an in-depth look at its trading activities will have to be conducted. The share is trading with a market value of around $4.03 billion, the company now has both obstacles and catalysts that affect them and they came from their mode of operations. With the company affected by events currently, it is a perfect time to analyze the numbers behind the firm in order to come up with a rather realistic picture of what this stock is.
Sunnova Energy International Inc. (NOVA) Fundamentals that are to be considered.
When analyzing a stock, the first fundamental thing to take into account is the balance sheet. How healthy the balance sheet of a company is will determine if the company will be able to carry out all its financial and non-financial obligations and also keep the faith of its investors. For NOVA, the company has in raw cash 84.64 million on their books with 109.73 million currently as liabilities. How the trend is over time is what investors should be concerned about. The company has a healthy balance sheet as their debt profile has been on a decline. In terms of their assets, the company currently has 309.43 million total, with 185.53 million as their total liabilities.
NOVA were able to record -541.65 million as free cash flow during the Q3 2020 quarter of the year, this saw their quarterly net cash flow reduce by 61.4 million. In cash movements, the company had a total of -101.8 million as operating cash flow.
Potential earnings growth for Sunnova Energy International Inc. (NOVA)
In order to determine the future investment potential for this stock, we will have to analyze key trends that affect it. During the Q3 2020 quarter of the year, Sunnova Energy International Inc. recorded a total of 50.18 million in revenue. This figure implies that they witnessed a quarterly year/year change in their earnings with 27.03% coming in sequential stages and their sales for the Q3 2020 quarter increasing by 14.72%.
What matters though is how it ends. When the core data for the company is broken down, then the stock sounds interesting. The company spent 16.52 million trying to sell their products during the last quarter, with the result yielding a gross income of 33.66 million. This allows shareholders to hold on to 87.77M with the recently reported earning now reading -0.84 cents per share. This is a figure that compared to analyst’s prediction for their Q3 2020 (-0.15 cents a share).
Having a look at the company’s valuation, the company is expected to record -0.72 total earnings per share during the next fiscal year. It is very important though to remember that the importance of trend far outweighs that of outlook. This analysis has been great and getting further updates on NOVA sounds very interesting.
Is the stock of NOVA attractive?
In related news, See Remarks, Baker Walter A sold 21,235 shares of the company’s stock in a transaction that recorded on Dec 08. The sale was performed at an average price of 39.51, for a total value of 838,995. As the sale deal closes, the Director, MORGAN MICHAEL C now sold 100,000 shares of the company’s stock, valued at 3,839,812. Also, See Remarks, Baker Walter A sold 28,656 shares of the company’s stock in a deal that was recorded on Dec 07. The shares were price at an average price of 39.50 per share, with a total market value of 1,131,912. Following this completion of acquisition, the Director, Newlight Partners LP now holds 4,025,000 shares of the company’s stock, valued at 148,925,000. In the last 6 months, insiders have changed their ownership in shares of company stock by 0.30%.
6 out of 9 analysts covering the stock have rated it a Buy, while 1 have maintained a Hold recommendation on Sunnova Energy International Inc.. 0 analysts has assigned a Sell rating on the NOVA stock. The 12-month mean consensus price target for the company’s shares has been set at $40.18.