The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Sunnova Energy International Inc. shares valued at $4,506,645 were sold by Berger William J on Aug 08. At $30.04 per share, Berger William J sold 150,000 shares. The insider’s holdings dropped to 301,142 shares worth approximately $7.65 million following the completion of this transaction.
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Also, Hultberg Kelsey sold 2,000 shares, netting a total of over 56,000 in proceeds. Following the sale of shares at $28.00 each, the insider now holds 15,493 shares.
Before that, Berger William J had sold 49,656 shares from its account. In a trade valued at $1,220,605, the insider traded Sunnova Energy International Inc. shares for $24.58 each. Upon closing the transaction, the insider’s holdings decreased to 49,656 shares, worth approximately $11.46 million.
As published in their initiating research note from Barclays on August 05, 2022, Sunnova Energy International Inc. [NOVA] has been an Overweight and the price target has been revised to $35. This represents a 27.43% premium over Thursday’s closing price. Analysts at Piper Sandler downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in mid July. As of June 29, 2022, Wells Fargo has initiated its “an Equal weight” rating for NOVA. Earlier on June 21, 2022, Goldman downgraded its rating. Their new recommendation was “a Neutral” for NOVA stock which previously was a “a Buy”.
Analyzing NOVA’s Price Performance
On Thursday, Sunnova Energy International Inc. [NYSE: NOVA] plunged -4.11% to $25.40. The stock’s lowest price that day was $24.6282, but it reached a high of $26.56 in the same session. During the last five days, there has been a drop of approximately -8.24%. Over the course of the year, Sunnova Energy International Inc. shares have dropped approximately -9.03%. Shares of the company reached a 52-week high of $31.47 on 08/08/22 and a 52-week low of $12.47 on 05/12/22. A 50-day SMA is recorded $25.07, while a 200-day SMA reached $22.22. Nevertheless, trading volume fell to 3.04 million shares from 2.21 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 24.50, which, if violated, would cause prices to drop to 23.60. In the upper region, resistance lies at 26.43. The next price resistance is at 27.46. RSI (Relative Strength Index) is 45.58 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.95, which suggests the price will decrease in the coming days. Percent R is at 64.53%, indicating low price movement. Stochastics %K at holding 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 12,322,397 shares, which is about 10.75% of the total NOVA shares outstanding. The investor’s shares have appreciated by 370,877 from its previous 13-F filing of 11951520.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $233,447,165. BlackRock Fund Advisors acquire a 11.52% interest valued at $220.93 million while Handelsbanken Fonder AB purchased a 74,569 stake. A total of -75,599 shares of Sunnova Energy International Inc. were bought by Pictet Asset Management SA during the quarter, and -936,097 were sold by BlackRock Investment Management. In its current portfolio, Invesco Capital Management LLC holds 3,726,486 shares valued at $93.98 million.
In terms of Sunnova Energy International Inc. share price expectations, FactSet research, analysts set an average price target of $39.75 in the next 12 months, up nearly 43.45% from the previous closing price of $26.49. Analysts anticipate Sunnova Energy International Inc. stock to reach $72.00 by 2022, with the lowest price target being $25.00. In spite of this, 20 analysts ranked Sunnova Energy International Inc. stock as a Buy at the end of 2022. On May 18, 2022, Northland Capital assigned a price target of “an Outperform” to the stock and initiated coverage with a $30.