NeoVolta, Inc. (NASDAQ:NEOV) Sees Significant Growth in Short Interest

NeoVolta, Inc. (NASDAQ:NEOV) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 2,221,696 shares, an increase of 26.5% from the December 31st total of 1,756,862 shares. Currently, 6.7% of the company’s shares are sold short. Based on an average daily trading volume, of 356,904 shares, the short-interest ratio is currently 6.2 days. Based on an average daily trading volume, of 356,904 shares, the short-interest ratio is currently 6.2 days. Currently, 6.7% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated 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 given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

NeoVolta Trading Up 11.2%

Shares of NEOV stock traded up $0.47 during mid-day trading on Monday, hitting $4.68. The company’s stock had a trading volume of 962,970 shares, compared to its average volume of 1,413,213. The company has a market cap of $162.58 million, a PE ratio of -29.25 and a beta of -0.79. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.21 and a current ratio of 1.47. The company’s fifty day simple moving average is $3.88 and its 200-day simple moving average is $4.32. NeoVolta has a 52 week low of $1.80 and a 52 week high of $7.13.

NeoVolta (NASDAQ:NEOV) last released its earnings results on Monday, November 10th. The company reported ($0.04) EPS for the quarter. The business had revenue of $6.65 million for the quarter. NeoVolta had a negative return on equity of 174.64% and a negative net margin of 36.67%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Qube Research & Technologies Ltd acquired a new stake in NeoVolta in the third quarter worth $48,000. Millennium Management LLC bought a new position in shares of NeoVolta during the 3rd quarter worth about $53,000. Bank of America Corp DE grew its stake in shares of NeoVolta by 4,929.4% in the 3rd quarter. Bank of America Corp DE now owns 14,736 shares of the company’s stock valued at $66,000 after buying an additional 14,443 shares during the period. Truist Financial Corp bought a new stake in NeoVolta in the 4th quarter valued at about $129,000. Finally, MGO One Seven LLC bought a new stake in NeoVolta in the 3rd quarter valued at about $164,000. 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.