Top 10 Small-Cap Stocks with Highest Upside Potential

4. Sunnova Energy International, Inc. (NYSE:NOVA)

Upside potential as of June 15th, 2024: 182.18%

Market Cap: $660.82 million

Ranked as the best solar company of 2024 by CNN, Sunnova Energy International, Inc. (NYSE:NOVA), engages in the provision of energy as a service in the United States. The company works towards making clean energy more accessible and affordable to homeowners and businesses. Sunnova provides its services in over 42 states making it one of the country’s most widely available solar installers, along with a broad range of payment options, it is an attractive service for customers.

The Houston-based company, reported a revenue of $720.65 million, a YoY increase of 29.22% from the $557.69 million. The analysts are predicting Sunnova Energy’s revenue to grow up to $904.23 million, with EPS going from -3.43 to -2.13 by the end of 2024. The 23 analysts with 12-month price forecasts for NOVA stock have an average target of $15.04, with a low estimate of $4.50 and a high estimate of $58. Wall Street analysts have maintained a Buy rating on this stock with an upside potential of 182.18% making it one of the best small-cap stocks to invest in.

It is expected that Sunnova Energy’s growth revenue will slow down, the forecast predicts a 32% annual growth rate by the end of 2024 which is lower than the historical 42% p.a growth over the last 5 years. But, when compared to other companies in the industry with analyst coverage, which are forecasted to grow their revenue by 4.5% per year, it is evident that even with an expected growth slowdown, Sunnova Energy International, Inc (NYSE:NOVA) is still expected to grow faster than the wider industry.

In Q1 of 2024, stocks of Sunnova Energy International, Inc (NYSE:NOVA) were held by 20 hedge funds in the Insider Monkey database, with D E Shaw holding the largest stake of 90,450,000 shares valued at $48.09 million.