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  "docSlug": "522270211ac4",
  "documentTitle": "Sunnova Energy International Inc. (NOVA)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
  "documentKindSlug": "activist-deck",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2020-09-29 00:00:00",
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  "notes": "The table uses two distinct valuation frameworks to arrive at a single-digit share price range.",
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      "kind": "callout",
      "text": "Using price-to-book value, a metric traditionally used for specialty finance companies, and value per customer in line with peers, we believe there is significant downside to Sunnova shares.",
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      "text": "Value Per Share: $5.91",
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      "text": "Note: Diluted shares outstanding of 84 million. Downside based on current share price of $26.80. Source: Spruce Point analysis",
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      "text": "Valuation Range: A Single Digit Share Price",
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