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Sunnova Energy International Inc [NOVA] Shares Fall -16.15 % on Wednesday

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 $43,639 were sold by Grasso Michael P on Mar 25 ’24. At $5.89 per share, Grasso Michael P sold 7,409 shares. The insider’s holdings dropped to 67,579 shares worth approximately $0.24 million following the completion of this transaction.

Also, LANE ROBERT LAWRENCE sold 6,710 shares, netting a total of over 39,522 in proceeds. Following the sale of shares at $5.89 each, the insider now holds 141,529 shares.

Before that, Nutting Meghan had sold 2,917 shares from its account. In a trade valued at $16,919, the insider traded Sunnova Energy International Inc shares for $5.80 each. Upon closing the transaction, the insider’s holdings decreased to 2,917 shares, worth approximately $0.2 million.

As published in a research note from KeyBanc Capital Markets on April 23, 2024, Sunnova Energy International Inc [NOVA] has been rated down from an Overweight to a Sector weight. Analysts at Wells Fargo downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in mid April. As of March 22, 2024, Janney has increased its “Neutral” rating to a “Buy” for NOVA. Earlier on March 04, 2024, Morgan Stanley downgraded its rating. Their new recommendation was “an Equal-weight” for NOVA stock which previously was a “an Overweight”.

Analyzing NOVA Stock Performance

During the last five days, there has been a drop of approximately -10.18%. Over the course of the year, Sunnova Energy International Inc shares have dropped approximately -76.85%. Shares of the company reached a 52-week high of $15.61 on 01/02/24 and a 52-week low of $3.37 on 05/01/24. A 50-day SMA is recorded $5.30, while a 200-day SMA reached $10.64. Nevertheless, trading volume fell to 25.64 million shares from 9.09 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 3.12, which, if violated, would cause prices to drop to 2.71. In the upper region, resistance lies at 4.19. The next price resistance is at 4.84. RSI (Relative Strength Index) is 36.11 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.09, which suggests the price will decrease in the coming days. Percent R is at 87.67%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

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