NeoVolta (NASDAQ:NEOV) Director John Hass Acquires 25,000 Shares of Stock

NeoVolta, Inc. (NASDAQ:NEOV) Director John Hass acquired 25,000 shares of NeoVolta stock in a transaction that occurred on Wednesday, September 30th. The stock was acquired at an average cost of $2.61 per share, with a total value of $65,250.00. Following the completion of the purchase, the director owned 126,190 shares in the company, valued at approximately $329,355.90. This represents a 24.71% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

NeoVolta Stock Performance

Shares of NASDAQ NEOV traded up $0.07 during mid-day trading on Thursday, reaching $2.35. The company had a trading volume of 447,985 shares, compared to its average volume of 1,550,068. The company has a market capitalization of $138.38 million, a price-to-earnings ratio of -4.51 and a beta of -0.77. The stock has a fifty day moving average of $3.20 and a two-hundred day moving average of $2.76. NeoVolta, Inc. has a 12-month low of $1.36 and a 12-month high of $7.13.

NeoVolta (NASDAQ:NEOV) last announced its quarterly earnings data on Wednesday, September 23rd. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.15). NeoVolta had a negative net margin of 161.10% and a negative return on equity of 124.51%. The company had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $1.27 million. Sell-side analysts forecast that NeoVolta, Inc. will post -0.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on NEOV. Northland Securities began coverage on NeoVolta in a research note on Wednesday, July 29th. They issued an “outperform” rating for the company. Weiss Ratings upgraded shares of NeoVolta from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, October 6th. UBS Group restated a “buy” rating on shares of NeoVolta in a research note on Tuesday, September 1st. Lake Street Capital began coverage on shares of NeoVolta in a report on Friday, June 26th. They set a “buy” rating and a $11.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 price objective on shares of NeoVolta in a research note on Thursday, September 24th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, NeoVolta presently has an average rating of “Moderate Buy” and a consensus price target of $9.50.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Bank of America Corp DE boosted its position in shares of NeoVolta by 131,579.3% during the 1st quarter. Bank of America Corp DE now owns 38,187 shares of the company’s stock valued at $118,000 after acquiring an additional 38,158 shares in the last quarter. BIP Wealth LLC bought a new stake in shares of NeoVolta in the 2nd quarter worth about $675,000. BlackRock Inc. acquired a new stake in shares of NeoVolta during the 2nd quarter worth about $1,633,000. Alyeska Investment Group L.P. acquired a new stake in shares of NeoVolta during the 2nd quarter worth about $4,882,000. Finally, AWM Investment Company Inc. acquired a new position in NeoVolta in the second quarter valued at about $5,184,000. 5.11% of the stock is currently owned by institutional investors and hedge funds.

NeoVolta Company Profile

NeoVolta, Inc is a U.S.-based energy technology company that develops, manufactures and sells battery energy storage systems for residential applications. Its systems are designed to store electricity generated by solar panels or drawn from the grid, helping homeowners maintain power during outages and manage energy consumption.

The company’s product portfolio includes the NV14, NV24 and NV48 energy storage systems, which are intended to support whole-home or partial-home backup applications.