Equities Analysts Issue Forecasts for NeoVolta Q1 Earnings

NeoVolta, Inc. (NASDAQ:NEOV) – Analysts at Sidoti issued their Q1 2029 earnings per share estimates for shares of NeoVolta in a report issued on Thursday, September 24th. Sidoti analyst S. Ferazani expects that the company will post earnings of $0.08 per share for the quarter. The consensus estimate for NeoVolta’s current full-year earnings is ($0.43) per share.

NeoVolta (NASDAQ:NEOV) last posted its earnings results on Wednesday, September 23rd. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.15). NeoVolta had a negative net margin of 161.10% and a negative return on equity of 124.51%. The business had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $1.27 million.

A number of other brokerages also recently issued reports on NEOV. Lake Street Capital assumed coverage on NeoVolta in a research report on Friday, June 26th. They issued a “buy” rating and a $11.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $8.00 target price on shares of NeoVolta in a research report on Thursday, September 24th. UBS Group reissued a “buy” rating on shares of NeoVolta in a research note on Tuesday, September 1st. Northland Securities initiated coverage on NeoVolta in a research note on Wednesday, July 29th. They issued an “outperform” rating on the stock. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NeoVolta in a research note on Tuesday, September 22nd. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $9.50.

NeoVolta Stock Down 3.1%

Shares of NASDAQ:NEOV opened at $2.52 on Friday. NeoVolta has a 52 week low of $1.36 and a 52 week high of $7.13. The firm has a fifty day simple moving average of $3.13 and a two-hundred day simple moving average of $2.84. The stock has a market capitalization of $148.71 million, a P/E ratio of -4.85 and a beta of -0.77.

Hedge Funds Weigh In On NeoVolta

Several institutional investors have recently made changes to their positions in NEOV. Bank of America Corp DE grew its stake in NeoVolta by 131,579.3% during 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. BIP Wealth LLC acquired a new stake in NeoVolta in the 2nd quarter worth approximately $675,000. BlackRock Inc. purchased a new stake in NeoVolta during the 2nd quarter worth approximately $1,633,000. Alyeska Investment Group L.P. acquired a new position in NeoVolta during the 2nd quarter valued at approximately $4,882,000. Finally, AWM Investment Company Inc. purchased a new position in shares of NeoVolta in the second quarter worth $5,184,000. Hedge funds and other institutional investors own 5.11% of the company’s stock.

NeoVolta Company Profile

NeoVolta, Inc develops and supplies energy storage systems for residential solar installations. Its products are designed to store electricity generated by rooftop solar panels and provide backup power during outages or periods when solar production is limited.

The company’s product portfolio includes modular battery-based systems such as the NV14 and related energy storage solutions. These systems are intended to help homeowners increase the use of self-generated solar power, improve energy resilience and manage household electricity consumption.

NeoVolta was founded in 2018 and is headquartered in San Diego, California.