NeoVolta, Inc. (NASDAQ:NEOV) Given Consensus Rating of “Hold” by Brokerages

Shares of NeoVolta, Inc. (NASDAQ:NEOV) have received a consensus recommendation of “Hold” from the seven ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $9.50.

Several equities research analysts have weighed in on NEOV shares. Weiss Ratings restated a “sell (e+)” rating on shares of NeoVolta in a report on Friday, June 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 target price on shares of NeoVolta in a research report on Thursday, July 2nd. Lake Street Capital assumed coverage on shares of NeoVolta in a research note on Friday, June 26th. They set a “buy” rating and a $11.00 price target on the stock. Northland Securities initiated coverage on shares of NeoVolta in a research report on Wednesday, July 29th. They issued an “outperform” rating for the company. Finally, UBS Group restated a “buy” rating on shares of NeoVolta in a research note on Tuesday, September 1st.

NeoVolta Stock Performance

NASDAQ NEOV opened at $3.68 on Wednesday. The firm has a market cap of $208.32 million, a price-to-earnings ratio of -11.15 and a beta of -0.87. The firm has a 50 day simple moving average of $2.95 and a 200-day simple moving average of $2.88. NeoVolta has a one year low of $1.36 and a one year high of $7.13.

Institutional Trading of NeoVolta

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in 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 during the period. State Street Corp boosted its holdings in NeoVolta by 8.5% in the 4th quarter. State Street Corp now owns 135,964 shares of the company’s stock valued at $413,000 after purchasing an additional 10,700 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in NeoVolta during the 3rd quarter worth approximately $48,000. Millennium Management LLC acquired a new position in NeoVolta during the 3rd quarter worth approximately $53,000. Finally, Bank of America Corp DE raised its stake in shares of 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 buying an additional 14,443 shares in the last quarter. 5.11% of the stock is owned by hedge funds and other institutional investors.

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.