NeoVolta, Inc. $NEOV Shares Sold by Legacy Wealth Managment LLC ID

Legacy Wealth Managment LLC ID trimmed its position in NeoVolta, Inc. (NASDAQ:NEOV) by 6.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,325,024 shares of the company’s stock after selling 344,059 shares during the period. NeoVolta makes up approximately 8.2% of Legacy Wealth Managment LLC ID’s portfolio, making the stock its 2nd biggest position. Legacy Wealth Managment LLC ID owned approximately 12.47% of NeoVolta worth $16,401,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in NEOV. Sovran Advisors LLC raised its position in shares of NeoVolta by 97.1% during the fourth 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 during the period. 683 Capital Management LLC bought a new stake in NeoVolta during the 4th quarter valued at $589,000. OMERS ADMINISTRATION Corp bought a new stake in NeoVolta during the 4th quarter valued at $230,000. Vanguard Group Inc. raised its holdings in NeoVolta by 11.5% during the third quarter. Vanguard Group Inc. now owns 458,988 shares of the company’s stock worth $2,047,000 after buying an additional 47,521 shares during the last quarter. Finally, Truist Financial Corp acquired a new position in NeoVolta during the fourth quarter worth $129,000. 5.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of NeoVolta in a report on Friday, June 26th. 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. Zacks Research raised shares of NeoVolta to a “hold” rating in a research report on Tuesday, April 21st. Finally, Lake Street Capital started coverage on NeoVolta in a research note on Friday, June 26th. They set a “buy” rating and a $11.00 price target for the company. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $9.50.

NeoVolta Trading Up 7.1%

Shares of NEOV opened at $2.26 on Tuesday. The stock has a 50 day moving average of $2.31 and a 200 day moving average of $3.14. The company has a market capitalization of $96.52 million, a price-to-earnings ratio of -6.85 and a beta of -1.09. NeoVolta, Inc. has a 12 month low of $1.36 and a 12 month high of $7.13.

NeoVolta (NASDAQ:NEOV) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.07. The business had revenue of $2.02 million for the quarter, compared to analysts’ expectations of $3.41 million. NeoVolta had a negative return on equity of 141.89% and a negative net margin of 63.35%. As a group, equities research analysts predict that NeoVolta, Inc. will post -0.37 earnings per share for the current year.

Insider Activity at NeoVolta

In related news, EVP Steve Bond purchased 47,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were bought at an average cost of $2.09 per share, with a total value of $98,230.00. Following the acquisition, the executive vice president owned 797,000 shares of the company’s stock, valued at $1,665,730. This represents a 6.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.00% of the stock is owned by insiders.

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.