NeoVolta (NASDAQ:NEOV) Downgraded to “Strong Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of NeoVolta (NASDAQ:NEOV) from a hold rating to a strong sell rating in a research report report published on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NeoVolta in a report on Thursday, January 22nd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce”.

NeoVolta Trading Up 1.7%

Shares of NEOV stock opened at $3.67 on Friday. The company has a market capitalization of $156.27 million, a P/E ratio of -12.66 and a beta of -0.78. NeoVolta has a 12-month low of $1.80 and a 12-month high of $7.13. The company has a quick ratio of 1.21, a current ratio of 2.10 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $3.89 and a 200 day moving average price of $4.23.

NeoVolta (NASDAQ:NEOV) last posted its quarterly earnings data on Friday, February 13th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.12). NeoVolta had a negative return on equity of 284.92% and a negative net margin of 54.71%.The firm had revenue of $4.65 million for the quarter, compared to analyst estimates of $4.40 million.

Institutional Inflows and Outflows

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