NeoVolta (NASDAQ:NEOV) Issues Quarterly Earnings Results

NeoVolta (NASDAQ:NEOV) posted its earnings results on Friday. The company reported ($0.16) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $4.65 million during the quarter. NeoVolta had a negative net margin of 36.67% and a negative return on equity of 174.64%.

NeoVolta Price Performance

Shares of NeoVolta stock opened at $3.71 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.21 and a debt-to-equity ratio of 0.30. The firm has a fifty day simple moving average of $3.91 and a 200-day simple moving average of $4.28. The stock has a market capitalization of $128.89 million, a price-to-earnings ratio of -23.19 and a beta of -0.78. NeoVolta has a 1-year low of $1.80 and a 1-year high of $7.13.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of NeoVolta in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, NeoVolta currently has an average rating of “Reduce”.

Institutional Trading of NeoVolta

Several hedge funds have recently added to or reduced their stakes in the business. Legacy Wealth Managment LLC ID lifted its position in NeoVolta by 26.1% in the second quarter. Legacy Wealth Managment LLC ID now owns 4,567,051 shares of the company’s stock worth $15,071,000 after purchasing an additional 944,758 shares during the period. Sovran Advisors LLC raised its stake in shares of NeoVolta by 97.1% in the 4th quarter. Sovran Advisors LLC now owns 457,687 shares of the company’s stock valued at $1,391,000 after buying an additional 225,516 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of NeoVolta by 11.5% during the 3rd quarter. Vanguard Group Inc. now owns 458,988 shares of the company’s stock worth $2,047,000 after acquiring an additional 47,521 shares during the period. Truist Financial Corp acquired a new stake in shares of NeoVolta during the 4th quarter valued at about $129,000. Finally, MGO One Seven LLC acquired a new stake in shares of NeoVolta during the 3rd quarter valued at about $164,000. Institutional investors own 5.11% of the company’s stock.

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.