Sunnova Energy crashes to all-time low on going concern doubts

Sunnova Energy International

03/03/2025 15:29

Updates

** Shares of residential solar firm Sunnova Energy International NOVA.N fall over 55% to an all-time low of 73 cents after it raises doubts on its ability to continue as a going concern

** Co says cash flow from current activities and commitments under existing financing agreements are not sufficient to fund operations for a period of at least one year from the date it issues consolidated financial statements

** NOVA says it has hired a financial advisor to help manage certain aspects of debt management and refinancing efforts

** As of Dec 31, 2024, NOVA had total cash and restricted cash of $548.1 mln

** Including session's moves, shares were down 82.43% YTD

 (Reporting by Katha Kalia in Bengaluru)

 ((Katha.Kalia@thomsonreuters.com))