NeoVolta (NASDAQ:NEOV) Announces Quarterly Earnings Results

NeoVolta (NASDAQ:NEOV) issued its quarterly earnings results on Friday. The company reported ($0.16) EPS for the quarter, FiscalAI reports. NeoVolta had a negative net margin of 36.67% and a negative return on equity of 174.64%. The firm had revenue of $4.65 million for the quarter.

NeoVolta Stock Performance

NeoVolta stock traded down $0.01 during midday trading on Friday, hitting $3.71. 560,664 shares of the company were exchanged, compared to its average volume of 1,162,535. The firm has a market capitalization of $128.89 million, a PE ratio of -23.19 and a beta of -0.78. NeoVolta has a fifty-two week low of $1.80 and a fifty-two week high of $7.13. The business has a fifty day simple moving average of $3.91 and a two-hundred day simple moving average of $4.29. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.21 and a current ratio of 1.47.

Institutional Investors Weigh In On NeoVolta

Several institutional investors have recently bought and sold shares of NEOV. Geode Capital Management LLC grew its position in shares of NeoVolta by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 329,747 shares of the company’s stock valued at $1,003,000 after purchasing an additional 9,385 shares in the last quarter. State Street Corp lifted its stake in NeoVolta by 8.5% during the 4th quarter. State Street Corp now owns 135,964 shares of the company’s stock worth $413,000 after acquiring an additional 10,700 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of NeoVolta in the third quarter valued at approximately $48,000. Millennium Management LLC purchased a new position in NeoVolta in the 3rd quarter valued at approximately $53,000. Finally, Bank of America Corp DE increased its holdings in NeoVolta by 4,929.4% during the 3rd quarter. Bank of America Corp DE now owns 14,736 shares of the company’s stock worth $66,000 after purchasing an additional 14,443 shares during the period. 5.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of NeoVolta in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce”.

About NeoVolta

NeoVolta, Inc is a clean-energy technology company that designs, manufactures and markets integrated battery storage systems for residential and light-commercial applications. Headquartered in San Jose, California, the company develops hardware and software solutions aimed at enhancing the value of rooftop solar installations, providing backup power and enabling homeowners to optimize time-of-use rate plans. NeoVolta’s modular approach to energy storage allows customers to scale capacity to match their changing needs.

The company’s flagship product family combines lithium-ion battery modules, a hybrid inverter and an energy management platform under a single enclosure.