NeoVolta (NASDAQ:NEOV) EVP Acquires $98,230.00 in Stock

NeoVolta, Inc. (NASDAQ:NEOV) EVP Steve Bond acquired 47,000 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were acquired at an average cost of $2.09 per share, for a total transaction of $98,230.00. Following the completion of the acquisition, the executive vice president owned 797,000 shares of the company’s stock, valued at approximately $1,665,730. The trade was a 6.27% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

NeoVolta Stock Up 3.7%

NASDAQ NEOV opened at $3.07 on Friday. The company has a market cap of $131.12 million, a PE ratio of -9.30 and a beta of -0.81. NeoVolta, Inc. has a 52 week low of $1.36 and a 52 week high of $7.13. The firm’s 50-day simple moving average is $3.09 and its two-hundred day simple moving average is $3.63.

NeoVolta (NASDAQ:NEOV) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.07. The business had revenue of $2.02 million for the quarter, compared to the consensus estimate of $3.41 million. NeoVolta had a negative net margin of 63.35% and a negative return on equity of 141.89%. As a group, equities research analysts anticipate that NeoVolta, Inc. will post -0.38 EPS for the current year.

Institutional Investors Weigh In On NeoVolta

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE lifted its holdings in shares of NeoVolta by 131,579.3% in the first quarter. Bank of America Corp DE now owns 38,187 shares of the company’s stock worth $118,000 after buying an additional 38,158 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of NeoVolta in the fourth quarter worth about $49,000. 683 Capital Management LLC purchased a new stake in shares of NeoVolta in the fourth quarter worth about $589,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of NeoVolta in the fourth quarter worth about $230,000. Finally, State Street Corp lifted its holdings in shares of NeoVolta by 8.5% in the fourth quarter. State Street Corp now owns 135,964 shares of the company’s stock worth $413,000 after buying an additional 10,700 shares in the last quarter. 5.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on NEOV. Zacks Research raised shares of NeoVolta to a “hold” rating in a report on Tuesday, April 21st. Wall Street Zen downgraded shares of NeoVolta from a “hold” rating to a “strong sell” rating in a report on Saturday, February 21st. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

NeoVolta Company Profile

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.