SAN DIEGO, March 30, 2024 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Sunnova Energy International Inc. (NYSE:NOVA) securities between February 25, 2020 and December 7, 2023, inclusive (the "Class Period"), have until April 16, 2024 to seek appointment as lead plaintiff of the Sunnova class action lawsuit. Captioned Trindade v. Sunnova Energy International Inc., No. 24-cv-00569 (S.D. Tex.), the Sunnova class action lawsuit charges Sunnova as well as certain ...

Sunnova Energy (NOVA) shares rallied 19.3% in the last trading session to close at $5.68. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 59.3% loss over the past four weeks.Goldman Sachs has recently maintained it Buy rating for Sunnova, praising its cash generation capability. This must have led to NOVA’s latest share price hike.This residential solar company is expected to post quarterly loss of $0.70 per ...

The week finally went well for solar energy investors, with stock values up double digits in many cases. And some of the most beaten-up residential solar stocks are outperforming the market.According to data provided by S&P Global Market Intelligence, SolarEdge (SEDG -1.83%) is up 6.4% this week as of 10:30 a.m. ET, Sunrun (RUN -3.61%) has gained 19.2%, and Sunnova Energy (NOVA -3.08%) is up 34.9%. It was a broad move, but some key companies drove the industry higher.Is Sunnova's pop sign of a bottom?In sep ...

Solar energy stocks had another rough week as interest rate fears and new investor lawsuits came to light.According to data provided by S&P Global Market Intelligence, SunPower (SPWR 5.99%) was down by as much as 13.2% this week, Sunrun (RUN 4.00%) dropped by as much as 25.4%, and Sunnova Energy (NOVA 6.43%) was off by 19.1% at its low point. Those stocks closed the week down by 6.6%, 21.3%, and 16.4%, respectively.Interest rates plague solar stocksThe biggest factor hitting solar energy stocks this week wa ...

Residential solar installer Sunnova (NOVA -8.82%) has dropped over the past year, along with all the other solar installers, but the company's recent fall has been troubling. In this video, Travis Hoium shows why Sunnova's financials are in rough shape and need a lot of industry and interest rate changes to recover.*Stock prices used were end-of-day prices of March 8, 2024. The video was published on March 13, 2024. ...

NEW YORK, March 01, 2024 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Sunnova Energy International Inc. ("Sunnova" or the "Company") (NYSE:NOVA) and reminds investors of the April 16, 2024 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding ...

There wasn't much good news for the solar industry this week, as earnings season brought bad report after bad report. Residential solar companies are suffering most because of policy changes in Europe and California, just as higher interest rates were making it harder to economically build solar projects.The three most impacted companies this week were Sunrun (RUN -6.89%) which fell 27% for the week; SolarEdge Technologies (SEDG -3.69%), dropping 21.4%; and Sunnova Energy (NOVA -13.19%), which was off 32.7% ...

John Berger, chairman and chief executive officer of Sunnova Energy Corp., speaks during the 2019 CERAWeek by IHS Markit conference in Houston, Texas, U.S., on Thursday, March 14, 2019.The residential solar company Sunnova Energy took a beating this week as investors dumped their shares after the announcement of a stock offering plan rattled confidence in the company.Sunnova shares plummeted 26.7% Thursday after the residential solar company announced a $100 million at-the-market stock offering program. Sun ...

The bad news for American solar energy companies, and the companies that supply them, got a little bit worse on Thursday when residential solar company Sunnova Energy International (NOVA -20.32%) stock tumbled 19% (through 12:45 p.m. ET) after reporting earnings last night.Heading into the fourth quarter of 2023, analysts already weren't terribly optimistic about Sunnova's chances, forecasting an $0.18 per share loss on sales of $223.4 million. But the news was even worse than that. Sunnova reported only $1 ...

Financial Data and Key Metrics Changes - Adjusted EBITDA for the year ended 2023 was $549 million, which included a $207 million contribution from Investment Tax Credit (ITC) sales [6][25] - Expected levered cash flows for 2024 are projected to be $136 million, with cumulative nominal cash inflows of $4.9 billion over the life of customer contracts [5][23] - The weighted average cost of debt as of December 31, 2023, was just over 5% [27] Business Line Data and Key Metrics Changes - Customer additions are expected to be back-end weighted, with 15% in Q1, 25% in Q2, and the remainder evenly distributed in the second half of the year [10] - The implied spread on near-term origination has improved to 600 basis points [8] - The company has paused spending on select growth initiatives, including international expansion, until market conditions improve [22] Market Data and Key Metrics Changes - The company has seen encouraging signs of improved market dynamics, with tighter risk premiums and an uptick in overall market demand [3] - The expected cumulative nominal contracted cash inflows associated with customer contracts over a weighted average remaining life of 22 years is $16 billion [23] - The company is experiencing strong growth in the South and other states where it historically had less presence [103] Company Strategy and Development Direction - The company remains committed to prudent capital management and shareholder value creation, focusing on maximizing returns on capital [33] - The strategy includes evaluating opportunities for capital deployment while maintaining a focus on cash generation [33] - The company is exploring attractive asset purchases but is currently focused on generating cash without needing to expand aggressively [107] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing the potential for market share gains despite current challenges in the industry [44] - The company is focused on improving customer service and operational efficiency to enhance cash generation [134] - Management believes that the current market conditions, including rising utility rates, present opportunities for growth [127] Other Important Information - The company has updated its liquidity forecast for 2024 and introduced guidance for 2025 and 2026, expecting to generate enough cash to meet growth targets while keeping cash positions relatively flat [29] - The company has a significant liquidity position, with nearly $1.4 billion available, excluding additional tax equity funds and securitization closures [26] Q&A Session Summary Question: How is the company assessing risks in the upcoming election year? - Management believes that the provisions of the IRA will remain intact regardless of the election outcome, with significant activity in hydrogen and carbon sequestration in the region [46] Question: What is the company's strategy regarding asset sales and liquidity? - The company is focused on generating cash to pay down debt and is considering asset sales as an opportunistic strategy [62][114] Question: How is the company managing customer acquisition costs? - The company is seeing a decrease in customer acquisition costs due to improved processes and leadership, aiming for significant reductions moving forward [134] Question: What are the growth expectations in different markets? - Management noted strong growth in the South and other states, with plans to improve market share in California through partnerships and new channels [75][103] Question: How does the company view the current state of the industry? - Management acknowledged challenges in the industry but emphasized the company's strong execution and the potential for growth despite negative headlines [125]