NeoVolta (NASDAQ:NEOV) Trading Up 10.5% – Still a Buy?

NeoVolta, Inc. (NASDAQ:NEOV)’s share price shot up 10.5% during trading on Monday . The company traded as high as $4.00 and last traded at $3.99. 509,798 shares were traded during mid-day trading, a decline of 11% from the average session volume of 574,262 shares. The stock had previously closed at $3.61.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on NEOV shares. Wall Street Zen lowered NeoVolta from a “hold” rating to a “strong sell” rating in a research note on Saturday, February 21st. Weiss Ratings reiterated a “sell (e+)” rating on shares of NeoVolta in a research note on Thursday, January 22nd. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce”.

NeoVolta Price Performance

The firm has a market capitalization of $161.80 million, a PE ratio of -13.10 and a beta of -0.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.60 and a current ratio of 2.10. The stock’s 50 day simple moving average is $3.97 and its two-hundred day simple moving average is $4.16.

NeoVolta (NASDAQ:NEOV) last released its quarterly earnings data on Friday, February 13th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.12). The business had revenue of $4.65 million during the quarter, compared to analyst estimates of $4.40 million. NeoVolta had a negative net margin of 54.71% and a negative return on equity of 284.92%.

Institutional Investors Weigh In On NeoVolta

Several institutional investors and hedge funds have recently modified their holdings of the company. Qube Research & Technologies Ltd acquired a new stake in NeoVolta during the 3rd quarter worth $48,000. Millennium Management LLC purchased a new position in shares of NeoVolta during the third quarter worth about $53,000. Bank of America Corp DE increased its position in shares of NeoVolta by 4,929.4% during the third 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 in the last quarter. Virtu Financial LLC acquired a new stake in shares of NeoVolta during the fourth quarter worth about $49,000. Finally, MGO One Seven LLC purchased a new stake in shares of NeoVolta in the 3rd quarter valued at about $164,000. Hedge funds and other institutional investors own 5.11% of the company’s stock.

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.