Sunnova Energy Subsidiary Files for Bankruptcy

An announcement from Sunnova Energy International ( (NOVA) ) is now available.

On June 1, 2025, Sunnova TEP Developer, LLC, a subsidiary of Sunnova Energy International, filed for Chapter 11 bankruptcy, which triggered defaults on certain debt agreements. Despite this filing, the company does not anticipate significant impacts on its existing customer service operations. Additionally, on May 29, 2025, Sunnova’s Board approved a workforce reduction, cutting approximately 55% of its employees to lower operating expenses and preserve stakeholder value. The financial implications of this reduction are yet to be determined.

The most recent analyst rating on (NOVA) stock is a Hold with a $8.00 price target. To see the full list of analyst forecasts on Sunnova Energy International stock, see the NOVA Stock Forecast page.

Spark’s Take on NOVA Stock

According to Spark, TipRanks’ AI Analyst, NOVA is a Neutral.

Sunnova Energy’s financial performance and valuation are the most significant factors impacting its score, driven by ongoing profitability challenges and high leverage. The technical analysis and recent corporate events further contribute to a cautious outlook, reflecting financial instability and potential risks.

To see Spark’s full report on NOVA stock, click here.

More about Sunnova Energy International

Sunnova Energy International Inc. operates in the renewable energy industry, primarily focusing on providing solar energy services. The company is known for its solar power solutions and aims to serve residential customers, enhancing their access to clean energy.

Average Trading Volume: 15,257,871

Technical Sentiment Signal: Sell

Current Market Cap: $26.27M

See more insights into NOVA stock on TipRanks’ Stock Analysis page.