Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Sunnova Energy International Inc. shares valued at $1,220,605 were sold by Berger William J on Aug 01. At $24.58 per share, Berger William J sold 49,656 shares. The insider’s holdings dropped to 451,142 shares worth approximately $12.21 million following the completion of this transaction.
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Also, LANE ROBERT LAWRENCE sold 8,690 shares, netting a total of over 213,774 in proceeds. Following the sale of shares at $24.60 each, the insider now holds 102,908 shares.
Before that, Hillstrand Kris W had sold 8,890 shares from its account. In a trade valued at $218,872, the insider traded Sunnova Energy International Inc. shares for $24.62 each. Upon closing the transaction, the insider’s holdings decreased to 8,890 shares, worth approximately $2.07 million.
As published in a research note from Piper Sandler on July 19, 2022, Sunnova Energy International Inc. [NOVA] has been rated down from an Overweight to a Neutral and the price target has been revised to $23 from $27. This represents a -17.65% premium over Thursday’s closing price. Analysts at Wells Fargo started covering the stock with ‘”an Equal weight”‘ outlook in a report released in late June. As of June 21, 2022, Goldman has decreased its “Buy” rating to a “Neutral” for NOVA. Earlier on May 18, 2022, Northland Capital initiated its rating. Their recommendation was “an Outperform” for NOVA stock.
Analyzing NOVA’s Price Performance
On Thursday, Sunnova Energy International Inc. [NYSE: NOVA] rose 7.00% to $27.06. The stock’s lowest price that day was $25.56, but it reached a high of $27.46 in the same session. During the last five days, there has been a surge of approximately 8.59%. Over the course of the year, Sunnova Energy International Inc. shares have dropped approximately -3.08%. Shares of the company reached a 52-week high of $29.25 on 01/03/22 and a 52-week low of $12.47 on 05/12/22. A 50-day SMA is recorded $20.52, while a 200-day SMA reached $24.50. Nevertheless, trading volume fell to 4.7 million shares from 3.65 million shares the previous day.
Support And Resistance Levels for Sunnova Energy International Inc. (NOVA)
According to the 24-hour chart, there is a support level at 25.93, which, if violated, would cause prices to drop to 24.79. In the upper region, resistance lies at 27.83. The next price resistance is at 28.59. RSI (Relative Strength Index) is 68.57 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.89, which suggests the price will increase in the coming days. Percent R is at 5.36%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Sunnova Energy International Inc. subject to short interest?
Stocks of Sunnova Energy International Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 1.46 million shares to 17.76 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 16.3 million shares. A jump of 8.22% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 6.35 of the overall float, the days-to-cover ratio (short ratio) jumped to 6.35.
Which companies own the most shares of Sunnova Energy International Inc. (NOVA)?
According to BNP Paribas Asset Management UK L filings, the company currently owns 11,951,520 shares, which is about 10.43% of the total NOVA shares outstanding. The investor’s shares have plunged by -137,592 from its previous 13-F filing of 12089112.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $158,504,248. BlackRock Fund Advisors reduced a -5.74% interest valued at $144.77 million while Handelsbanken Fonder AB purchased a 973,966 stake. A total of 708,021 shares of Sunnova Energy International Inc. were bought by BlackRock Investment Management during the quarter, and -789,733 were sold by Pictet Asset Management SA. In its current portfolio, Invesco Capital Management LLC holds 3,952,268 shares valued at $72.84 million.
In terms of Sunnova Energy International Inc. share price expectations, FactSet research, analysts set an average price target of $38.05 in the next 12 months, up nearly 42.35% from the previous closing price of $25.29. Analysts anticipate Sunnova Energy International Inc. stock to reach $72.00 by 2022, with the lowest price target being $23.00. In spite of this, 19 analysts ranked Sunnova Energy International Inc. stock as a Buy at the end of 2022. On May 02, 2022, Truist assigned a price target of “a Buy” to the stock and resumed coverage with a $32.