What To Know: Earlier this week, according to a report from Bloomberg, sources suggested that Oaktree has purchased approximately $400 million of Sunnova's debt as the solar panel provider explores a potential debt restructuring—which could include a bankruptcy filing.

At the end of 2023, Sunnova carried over $8 billion in net debt and recently issued a going concern warning, raising concerns about its financial stability. 

In response, creditors consolidated their advisory groups, bringing in Paul Weiss as legal counsel and Evercore as a financial adviser.

With its significant debt position, Oaktree could play a crucial role in upcoming restructuring discussions. However, per Bloomberg, representatives from Oaktree, Sunnova, and the advisory firms have declined to comment.

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How To Buy NOVA Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Sunnova Energy’s case, it is in the Utilities sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, NOVA has a 52-week high of $13.00 and a 52-week low of $0.25.