Name of opportunity: 👀
Sunnova Energy International Inc
Plummeting after the US election: 📉
Sunnova has fallen by 45.75% today with the news that Donald Trump has won the US election, which might be a key reason for this stock’s drop in price. Investors had been thinking that a Democrat win for Kamala Harris might lead to greater investment from the US government in green energy, benefiting companies like Sunnova. On the other hand, Trump has been making his intentions clear to support oil and gas companies instead - so with the announcement that he will be the next US President, some investors are turning away from renewable energy stocks.
How hot is this investment opportunity? 🔥🔥🔥
However, the picture is not necessarily that bleak for Sunnova. Check out Sunnova’s page in our investing app Nemo Money - you’ll see that analysts predict the price of Sunnova Energy International Inc might increase from $3.78 to $11.04 in the next 12 months. If you invested $1000, you might profit $1603.77.
Part of the reason for this soaring increase might be that Sunnova is already a ‘penny stock’ meaning that it is available at a very low price. An increase of 160% would take the value up by less than $10.
The stock is still currently recommended as a 'Buy'. The fact that its value has already fallen so much today means that now might be a good opportunity to buy on the dip, when it is already much cheaper than it has been in the past. In the most recent earnings in September, Sunnova’s revenue was up 18.6% year on year and it also beat the EPS estimates by 130.36%. Individual households might still be looking to add solar power solutions to their homes, despite the decreased likelihood of government spending in this sector.
Solar power: ☀️
Sunnova Energy International Inc. is a residential solar and energy storage service provider to customers across the United States. The company offers a residential solar dealer model in which it partners with local dealers who originate, design and install its customers' solar energy systems and energy storage systems on its behalf.
Which neme?: 🔍
‘Biggest Losers Today’, ‘Green Energy’ and ‘Stocks On The Move’ (you’ll find plenty more US stocks dramatically changing in price after the election in this neme)
Download Nemo to check out Sunnova and other energy stocks - if you’re a new user, you can access our registration bonus. We'll give you 50% of what you top up your account with, to invest how you like (maximum bonus $50, terms and conditions apply).
