Sunnova Energy International (NOVA) shares have plummeted 60% on March 3, trading at $0.66 after the company warned about its ability to continue operating as a going concern. The solar power company’s available cash is deemed insufficient to meet obligations and fund operations.
As part of its fourth-quarter 2024 financial results, Sunnova reported a net loss of -$127.7 million, narrower than the -$234.8 million loss in the previous quarter. The company has hired a financial advisor to assist with debt management and refinancing efforts.
With substantial doubt existing about its ability to continue operating for at least one year, Sunnova Energy faces a dire situation. Founded in 2012, the Houston-based company specializes in solar panel installations and energy storage services. However, it has received hundreds of customer complaints from the Better Business Bureau, accredited only in 2019.
Since going public in 2019, Sunnova’s share price has declined by 94%, with an 80% drop in 2025. The company’s 52-week high was $13 per share, but its future plans remain uncertain.
Analysts’ consensus suggests a Moderate Buy rating of 15 Wall Street analysts, who recommend buying the stock despite the current decline. However, these ratings may change following the company’s latest financial results and going concern notice.
Source: https://www.tipranks.com/news/sunnova-energy-stock-nova-dives-60-on-bankruptcy-warning