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

NeoVolta, Inc. (NASDAQ:NEOV) Director John Hass bought 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 30th. The stock was purchased at an average price of $2.61 per share, with a total value of $65,250.00. Following the completion of the purchase, the director directly owned 126,190 shares in the company, valued at $329,355.90. The trade was a 24.71% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

NeoVolta Stock Performance

NeoVolta stock traded down $0.25 during midday trading on Friday, reaching $2.18. 930,226 shares of the company’s stock were exchanged, compared to its average volume of 1,626,216. NeoVolta, Inc. has a 52 week low of $1.36 and a 52 week high of $7.13. The firm has a market cap of $128.64 million, a price-to-earnings ratio of -4.19 and a beta of -0.77. The stock’s 50-day simple moving average is $3.18 and its 200 day simple moving average is $2.74.

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

Institutional Trading of NeoVolta

Hedge funds have recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. acquired a new position in NeoVolta in the 2nd quarter valued at $4,882,000. BlackRock Inc. bought a new position in NeoVolta during the 2nd quarter worth $1,633,000. AWM Investment Company Inc. bought a new position in NeoVolta during the 2nd quarter worth $5,184,000. BIP Wealth LLC acquired a new stake in shares of NeoVolta during the second quarter worth $675,000. Finally, Bank of America Corp DE lifted its holdings in shares of NeoVolta by 131,579.3% during 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. 5.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

About NeoVolta

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.