NeoVolta (NASDAQ:NEOV) Stock Price Down 4.7% – Should You Sell?

NeoVolta, Inc. (NASDAQ:NEOV)’s share price traded down 4.7% during mid-day trading on Monday . The stock traded as low as $3.86 and last traded at $3.87. 111,597 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 322,954 shares. The stock had previously closed at $4.06.

Analysts Set New Price Targets

NEOV has been the subject of a number of analyst reports. Maxim Group reaffirmed a “hold” rating on shares of NeoVolta in a report on Wednesday, October 1st. Weiss Ratings reissued a “sell (e+)” rating on shares of NeoVolta in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, NeoVolta presently has an average rating of “Reduce”.

NeoVolta Trading Up 7.8%

The firm has a market cap of $144.17 million, a P/E ratio of -25.94 and a beta of -0.84. The company has a current ratio of 1.47, a quick ratio of 1.21 and a debt-to-equity ratio of 0.30. The company’s fifty day moving average price is $4.55 and its two-hundred day moving average price is $4.17.

NeoVolta (NASDAQ:NEOV) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.04) earnings per share (EPS) for the quarter. The firm had revenue of $6.65 million for the quarter. NeoVolta had a negative net margin of 36.67% and a negative return on equity of 174.64%.

Institutional Investors Weigh In On NeoVolta

A number of large investors have recently bought and sold shares of the business. Qube Research & Technologies Ltd bought a new position in NeoVolta in the 3rd quarter valued at $48,000. Millennium Management LLC bought a new stake in shares of NeoVolta during the third quarter worth $53,000. Bank of America Corp DE increased its stake in shares of NeoVolta by 4,929.4% in the third quarter. Bank of America Corp DE now owns 14,736 shares of the company’s stock valued at $66,000 after buying an additional 14,443 shares in the last quarter. MGO One Seven LLC bought a new position in shares of NeoVolta in the third quarter valued at about $164,000. Finally, Sovran Advisors LLC lifted its position in NeoVolta by 39.1% during the 3rd quarter. Sovran Advisors LLC now owns 232,171 shares of the company’s stock worth $1,035,000 after buying an additional 65,250 shares in the last quarter. 5.11% of the stock is currently owned by institutional investors.

NeoVolta Company Profile

NeoVolta Inc designs, manufactures, and sells energy storage systems in the United States. It provides NV14, NV14-K, and NV 24 energy storage systems, which stores and uses energy through batteries and an inverter at residential or commercial sites. The company markets and sells its products directly to certified solar installers and solar equipment distributors.