NeoVolta, Inc. (NASDAQ:NEOV) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Shares of NeoVolta, Inc. (NASDAQ:NEOV) have earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $9.50.

Several brokerages have recently commented on NEOV. Weiss Ratings raised shares of NeoVolta from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, October 6th. Northland Securities assumed coverage on NeoVolta in a report on Wednesday, July 29th. They issued an “outperform” rating for the company. Needham & Company LLC restated a “buy” rating and set a $8.00 price objective on shares of NeoVolta in a research note on Thursday, September 24th. Finally, UBS Group restated a “buy” rating on shares of NeoVolta in a research note on Tuesday, September 1st.

Insider Buying and Selling at NeoVolta

In other news, Director John Hass purchased 25,000 shares of the stock in a transaction dated Wednesday, September 30th. The stock was acquired at an average cost of $2.61 per share, for a total transaction of $65,250.00. Following the acquisition, the director owned 126,190 shares of the company’s stock, valued at $329,355.90. The trade was a 24.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On NeoVolta

Several institutional investors and hedge funds have recently made changes to their positions in the company. Alyeska Investment Group L.P. acquired a new position in NeoVolta in the second quarter worth $4,882,000. BlackRock Inc. bought a new stake in NeoVolta during the second quarter valued at $1,633,000. AWM Investment Company Inc. acquired a new stake in shares of NeoVolta during the second quarter worth $5,184,000. BIP Wealth LLC acquired a new stake in shares of NeoVolta during the second quarter worth $675,000. Finally, Bank of America Corp DE lifted its position in shares of NeoVolta by 131,579.3% in the 1st quarter. Bank of America Corp DE now owns 38,187 shares of the company’s stock worth $118,000 after buying an additional 38,158 shares during the last quarter. 5.11% of the stock is owned by institutional investors and hedge funds.

NeoVolta Price Performance

NASDAQ NEOV opened at $2.30 on Thursday. The company has a market capitalization of $135.73 million, a price-to-earnings ratio of -4.42 and a beta of -0.77. NeoVolta has a 12 month low of $1.36 and a 12 month high of $7.13. The company’s fifty day moving average price is $2.98 and its two-hundred day moving average price is $3.04.

NeoVolta (NASDAQ:NEOV) last released its earnings results on Wednesday, September 23rd. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.15). The company had revenue of $0.01 million during the quarter, compared to the consensus estimate of $1.27 million. NeoVolta had a negative return on equity of 124.51% and a negative net margin of 161.10%. As a group, analysts anticipate that NeoVolta will post -0.43 EPS for the current year.

About NeoVolta

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.