Sunnova Energy hits record low after report company could consider bankruptcy
ReutersMar 13, 2025 2:58 PM
Solar firm Sunnova Energy's NOVA.N shares drop as much as 32% to record low of $0.25
Company preparing restructuring talks with creditors that could include filing for bankruptcy, Wall Street Journal reports late Wednesday, citing sources
Sunnova has debt of $8.46 billion as of December 31, 2024, according to LSEG data
NOVA warned March 3 it had doubts about its ability to continue as a going concern, as current cash flow and existing financing agreements not enough to fund operations
Going concern warning sent NOVA shares to an all-time low on March 3
Company on Monday named Paul Mathews as president and CEO
Stock down ~92% YTD
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