Last Updated: 09 Nov 2024
Executive Summary
Sunnova Energy International Inc. (NOVA) is a leading provider of residential solar energy and energy storage services in the United States. The company has a market capitalization of $456 million and trades on the NYSE. NOVA's latest stock price is $3.14.
Company Overview
Sunnova was founded in 2012 and is headquartered in Houston, Texas. The company offers a range of solar energy and energy storage solutions, including solar panels, batteries, and financing. Sunnova has a growing customer base of over 100,000 residential customers.
Fundamental Analysis
NOVA's financial performance has been mixed in recent years. The company has reported negative earnings per share (EPS) in each of the past four quarters. However, revenue has grown steadily, increasing by 18.6% year-over-year in the most recent quarter.
NOVA's balance sheet is relatively strong. The company has $14.24 in book value per share and no long-term debt. However, the company's operating margin is negative, which is a concern.
Technical Analysis
NOVA's stock price has been in a downtrend since early 2022. The stock is currently trading below its 50-day and 200-day moving averages. The relative strength index (RSI) is also below 50, which indicates that the stock is oversold.
Short Term Outlook
The short-term outlook for NOVA is uncertain. The stock is trading at a low price and is oversold. However, the company's financial performance has been weak and the stock is in a downtrend. Investors should be cautious before investing in NOVA.
Long Term Outlook
The long-term outlook for NOVA is more positive. The company is a leader in the growing solar energy market. The company's financial performance is expected to improve as the solar energy market continues to grow. Investors who are willing to take on some risk may want to consider investing in NOVA for the long term.
Analyst Recommendations
Analysts have a mixed view on NOVA. Five analysts have a strong buy rating on the stock, 12 have a buy rating, nine have a hold rating, and none have a sell or strong sell rating. The average analyst target price is $11.60.
