NOVA’s short interest shows a sharp decline on Apr 27, 2023


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 $143,700 were purchased by Mohamed Akbar on May 19. At $14.37 per share, Mohamed Akbar acquired 10,000 shares. The insider’s holdings grew to 83,689 shares worth approximately $1.35 million following the completion of this transaction.

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Also, Berger William J purchased 600 shares, netting a total of over 9,348 in proceeds. Following the buying of shares at $15.58 each, the insider now holds 293,325 shares.

Before that, Santo Salvo John T had sold 12,679 shares from its account. In a trade valued at $171,166, the insider traded Sunnova Energy International Inc. shares for $13.50 each. Upon closing the transaction, the insider’s holdings decreased to 12,679 shares, worth approximately $1.21 million.

Analyzing NOVA Stock Performance

On Thursday, Sunnova Energy International Inc. [NYSE: NOVA] rose 0.25% to $16.18. The stock’s lowest price that day was $15.82, but it reached a high of $16.37 in the same session. During the last five days, there has been a surge of approximately 5.75%. Over the course of the year, Sunnova Energy International Inc. shares have dropped approximately -10.16%. Shares of the company reached a 52-week high of $22.64 on 01/18/23 and a 52-week low of $12.46 on 03/20/23. A 50-day SMA is recorded $15.57, while a 200-day SMA reached $19.64. Nevertheless, trading volume fell to 2.94 million shares from 3.48 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 15.88, which, if violated, would cause prices to drop to 15.57. In the upper region, resistance lies at 16.43. The next price resistance is at 16.67. RSI (Relative Strength Index) is 51.50 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.49, which suggests the price will decrease in the coming days. Percent R is at 26.01%, indicating bullish 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 steep in short interest on Apr 27, 2023 dropping by -0.3 million shares to 23.99 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2023 was 24.29 million shares. A decline of -1.25% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.57 of the overall float, the days-to-cover ratio (short ratio) decline to 4.57.

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 13,759,332 shares, which is about 11.97% of the total NOVA shares outstanding. The investor’s shares have appreciated by 1,998,308 from its previous 13-F filing of 11761024.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $172,576,473. BlackRock Fund Advisors acquire a 1.84% interest valued at $153.64 million while Handelsbanken Fonder AB purchased a 296,499 stake. A total of 1,050,899 shares of Sunnova Energy International Inc. were bought by BlackRock Investment Management during the quarter, and 355,795 were bought by Invesco Capital Management LLC. In its current portfolio, KBI Global Investors Ltd. holds 3,819,796 shares valued at $68.6 million.

In terms of Sunnova Energy International Inc. share price expectations, FactSet research, analysts set an average price target of $33.87 in the next 12 months, up nearly 92.07% from the previous closing price of $16.14. Analysts anticipate Sunnova Energy International Inc. stock to reach $63.00 by 2023, with the lowest price target being $19.00. In spite of this, 25 analysts ranked Sunnova Energy International Inc. stock as a Buy at the end of 2023.


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