NeoVolta, Inc. (NASDAQ:NEOV) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Shares of NeoVolta, Inc. (NASDAQ:NEOV) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $9.50.

A number of research analysts recently issued reports on NEOV shares. Needham & Company LLC reiterated a “buy” rating and issued a $8.00 price target on shares of NeoVolta in a research note on Thursday, September 24th. UBS Group reiterated a “buy” rating on shares of NeoVolta in a report on Tuesday, September 1st. 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, Northland Securities began coverage on shares of NeoVolta in a report on Wednesday, July 29th. They issued an “outperform” rating on the stock.

Insider Activity at NeoVolta

In other news, Director John Hass bought 25,000 shares of the stock in a transaction that occurred on Wednesday, September 30th. The stock was purchased at an average price of $2.61 per share, for a total transaction 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 trade represents a 24.71% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.00% of the company’s stock.

Institutional Trading of NeoVolta

Hedge funds and other institutional investors have recently bought and sold shares of the business. Alyeska Investment Group L.P. purchased a new stake in NeoVolta during the second quarter worth approximately $4,882,000. AWM Investment Company Inc. acquired a new position in NeoVolta in the second quarter valued at approximately $5,184,000. BlackRock Inc. acquired a new position in NeoVolta in the second quarter valued at approximately $1,633,000. BIP Wealth LLC purchased a new position in NeoVolta in the second quarter valued at approximately $675,000. Finally, Bank of America Corp DE increased its stake in NeoVolta by 131,579.3% in the first quarter. Bank of America Corp DE now owns 38,187 shares of the company’s stock valued at $118,000 after purchasing an additional 38,158 shares during the last quarter. 5.11% of the stock is currently owned by institutional investors and hedge funds.

NeoVolta Stock Performance

Shares of NEOV opened at $2.28 on Thursday. The stock has a 50-day simple moving average of $2.86 and a 200-day simple moving average of $3.00. The stock has a market capitalization of $134.75 million, a PE ratio of -4.38 and a beta of -0.71. NeoVolta has a 1 year low of $1.36 and a 1 year 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 return on equity of 124.51% and a negative net margin of 161.10%. The company had revenue of $0.01 million for the quarter, compared to analyst estimates of $1.27 million. Analysts predict that NeoVolta will post -0.43 EPS for the current year.

NeoVolta Company Profile

NeoVolta, Inc is a clean-energy technology company that develops and supplies battery-based energy storage systems. Its products are designed to store electricity generated by solar panels or drawn from the electric grid, helping residential customers use more of their own solar power, manage electricity consumption and maintain backup power during outages.

The company’s product portfolio includes modular residential energy storage systems, battery units and related power-management equipment.