Sunnova Energy International Stock Market Value
| NOVA Stock | USD 5.34 0.44 8.98% |
| Symbol | Sunnova |
Sunnova Energy Inter Price To Book Ratio
Is Independent Power and Renewable Electricity Producers space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Sunnova Energy. If investors know Sunnova will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Sunnova Energy listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (3.38) | Revenue Per Share 6.552 | Quarterly Revenue Growth 0.186 | Return On Assets (0.01) | Return On Equity (0.23) |
The market value of Sunnova Energy Inter is measured differently than its book value, which is the value of Sunnova that is recorded on the company's balance sheet. Investors also form their own opinion of Sunnova Energy's value that differs from its market value or its book value, called intrinsic value, which is Sunnova Energy's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Sunnova Energy's market value can be influenced by many factors that don't directly affect Sunnova Energy's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Sunnova Energy's value and its price as these two are different measures arrived at by different means. Investors typically determine if Sunnova Energy is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Sunnova Energy's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Sunnova Energy 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Sunnova Energy's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Sunnova Energy.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Sunnova Energy on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Sunnova Energy International or generate 0.0% return on investment in Sunnova Energy over 30 days. Sunnova Energy is related to or competes with Enphase Energy, First Solar, SolarEdge Technologies, JinkoSolar Holding, Nextracker, Canadian Solar, and Sunrun. Sunnova Energy International Inc. provides residential energy services in the United States More
Sunnova Energy Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Sunnova Energy's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Sunnova Energy International upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 67.41 | |||
| Value At Risk | (9.06) | |||
| Potential Upside | 14.57 |
Sunnova Energy Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Sunnova Energy's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Sunnova Energy's standard deviation. In reality, there are many statistical measures that can use Sunnova Energy historical prices to predict the future Sunnova Energy's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.15) | |||
| Total Risk Alpha | (2.02) | |||
| Treynor Ratio | 0.1706 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Sunnova Energy's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Sunnova Energy Inter Backtested Returns
Sunnova Energy Inter owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0558, which indicates the firm had a -0.0558% return per unit of risk over the last 3 months. Sunnova Energy International exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Sunnova Energy's Risk Adjusted Performance of (0.03), coefficient of variation of (1,918), and Variance of 91.73 to confirm the risk estimate we provide. The entity has a beta of -2.98, which indicates a somewhat significant risk relative to the market. As returns on the market increase, returns on owning Sunnova Energy are expected to decrease by larger amounts. On the other hand, during market turmoil, Sunnova Energy is expected to outperform it. At this point, Sunnova Energy Inter has a negative expected return of -0.54%. Please make sure to validate Sunnova Energy's potential upside, as well as the relationship between the daily balance of power and price action indicator , to decide if Sunnova Energy Inter performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.78 |
Almost perfect reverse predictability
Sunnova Energy International has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Sunnova Energy time series from 27th of October 2024 to 11th of November 2024 and 11th of November 2024 to 26th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Sunnova Energy Inter price movement. The serial correlation of -0.78 indicates that around 78.0% of current Sunnova Energy price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.78 | |
| Spearman Rank Test | -0.22 | |
| Residual Average | 0.0 | |
| Price Variance | 0.39 |
Sunnova Energy Inter lagged returns against current returns
Autocorrelation, which is Sunnova Energy stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Sunnova Energy's stock expected returns. We can calculate the autocorrelation of Sunnova Energy returns to help us make a trade decision. For example, suppose you find that Sunnova Energy has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Sunnova Energy regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Sunnova Energy stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Sunnova Energy stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Sunnova Energy stock over time.
Current vs Lagged Prices |
| Timeline |
Sunnova Energy Lagged Returns
When evaluating Sunnova Energy's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Sunnova Energy stock have on its future price. Sunnova Energy autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Sunnova Energy autocorrelation shows the relationship between Sunnova Energy stock current value and its past values and can show if there is a momentum factor associated with investing in Sunnova Energy International.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.When determining whether Sunnova Energy Inter offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Sunnova Energy's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Sunnova Energy International Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Sunnova Energy International Stock:Check out Sunnova Energy Correlation, Sunnova Energy Volatility and Sunnova Energy Alpha and Beta module to complement your research on Sunnova Energy. You can also try the Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
Sunnova Energy technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.