How do you define a stock market opportunity? Is it a windfall, a piece of luck, or the result of careful planning, a strategy to make the most of any opening?
The savvy investor seeks out the latter, looking for stocks that offer inducements to entry, be it a high upside or a depressed share price or a recent positive analyst review – or better yet, a combination of all three.
So there’s a profile. We’ve used the TipRanks database to look up two stocks that fit it – stocks with Strong Buy consensus ratings, plenty of upside potential, and recent thumbs up from the analyst corps. And, while these stocks have plenty of positives in the profile, each one has also experienced steep share price losses in recent months. Let’s take a closer look.
Don’t miss
Sunnova Energy International (NOVA)
We’ll start in the residential solar installation niche with Sunnova Energy. This firm is one of the leaders in the US residential solar industry, where its operations include everything from installing rooftop solar panels to setting up the home power system and bringing in power storage batteries. Sunnova also backs up its solar installations with repairs, modifications, and replacement parts available to customers as needed. On the sales and financial side, the company can provide financing options for its customers.
Founded in 2012 in Texas, Sunnova now has a presence in 46 US states and territories and boasts more than 348,000 customers on its books. The company has a nationwide network of more than 1,300 dealers, sub-dealers, and builders engaged in marketing and building out its solar installations, and in its last reported quarter, 2Q23, the company added more than 39,000 customers. As of June 30, Sunnova’s business was running strong, and the company expects to gain between 135,000 and 145,000 new customers for all of 2023.
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However, despite its strong market presence and growth trajectory, Sunnova’s shares have experienced a significant decline since reaching their peak value in July. The drop has been substantial, marking a decrease of 62%…
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