Sidoti Forecasts NeoVolta’s FY2029 Earnings (NASDAQ:NEOV)

NeoVolta, Inc. (NASDAQ:NEOV) – Analysts at Sidoti decreased their FY2029 earnings estimates for shares of NeoVolta in a report issued on Monday, July 27th. Sidoti analyst S. Ferazani now expects that the company will post earnings per share of $0.44 for the year, down from their previous estimate of $0.45. The consensus estimate for NeoVolta’s current full-year earnings is ($0.37) per share.

Several other research analysts have also issued reports on NEOV. Lake Street Capital initiated coverage on shares of NeoVolta in a research report on Friday, June 26th. They issued a “buy” rating and a $11.00 price target on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of NeoVolta in a research report on Friday, June 26th. Zacks Research raised NeoVolta to a “hold” rating in a research note on Tuesday, April 21st. Finally, Needham & Company LLC restated a “buy” rating and issued a $8.00 target price on shares of NeoVolta in a report on Thursday, July 2nd. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $9.50.

NeoVolta Price Performance

NEOV stock opened at $2.18 on Tuesday. The firm has a market cap of $93.11 million, a PE ratio of -6.61 and a beta of -1.09. NeoVolta has a 12 month low of $1.36 and a 12 month high of $7.13. The firm has a 50 day simple moving average of $2.28 and a 200 day simple moving average of $3.11.

NeoVolta (NASDAQ:NEOV) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.07. NeoVolta had a negative net margin of 63.35% and a negative return on equity of 141.89%. The company had revenue of $2.02 million for the quarter, compared to analysts’ expectations of $3.41 million.

Insider Activity at NeoVolta

In other news, EVP Steve Bond bought 47,000 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was bought at an average cost of $2.09 per share, for a total transaction of $98,230.00. Following the completion of the acquisition, the executive vice president directly owned 797,000 shares in the company, valued at $1,665,730. This represents a 6.27% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 4.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NeoVolta

A number of large investors have recently made changes to their positions in the company. Legacy Wealth Managment LLC ID lifted its position in shares of NeoVolta by 3.1% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 5,669,083 shares of the company’s stock valued at $17,234,000 after acquiring an additional 169,822 shares in the last quarter. Vanguard Group Inc. boosted its stake in NeoVolta by 11.5% in the 3rd quarter. Vanguard Group Inc. now owns 458,988 shares of the company’s stock worth $2,047,000 after purchasing an additional 47,521 shares during the period. Sovran Advisors LLC grew its position in NeoVolta by 97.1% during the 4th quarter. Sovran Advisors LLC now owns 457,687 shares of the company’s stock worth $1,391,000 after purchasing an additional 225,516 shares in the last quarter. Geode Capital Management LLC grew its position in NeoVolta by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 329,747 shares of the company’s stock worth $1,003,000 after purchasing an additional 9,385 shares in the last quarter. Finally, 683 Capital Management LLC purchased a new position in NeoVolta during the 4th quarter worth approximately $589,000. Institutional investors and hedge funds own 5.11% of the company’s stock.

NeoVolta Company Profile

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.