NeoVolta, Inc. (NEOV) – What Are Investment Firms Saying About This Stock?

Shares of NeoVolta, Inc. (NASDAQ:NEOV) have been given a consensus rating of “Moderate Buy” by the six research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $9.50.

A number of equities research analysts have issued reports on NEOV shares. Lake Street Capital started coverage on NeoVolta in a research note on Friday, June 26th. They issued a “buy” rating and a $11.00 target price on the stock. Weiss Ratings upgraded shares of NeoVolta from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 price objective on shares of NeoVolta in a report on Thursday, September 24th. UBS Group reiterated a “buy” rating on shares of NeoVolta in a research report on Tuesday, September 1st. Finally, Northland Securities initiated coverage on shares of NeoVolta in a research report on Wednesday, July 29th. They issued an “outperform” rating for the company.

NeoVolta Stock Up 0.4%

Shares of NASDAQ NEOV opened at $2.61 on Friday. The stock’s 50 day moving average price is $3.22 and its two-hundred day moving average price is $2.80. NeoVolta has a 52-week low of $1.36 and a 52-week high of $7.13. The stock has a market capitalization of $154.02 million, a P/E ratio of -5.02 and a beta of -0.77.

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

Hedge Funds Weigh In On NeoVolta

Several hedge funds and other institutional investors have recently made changes to their positions in the business. AWM Investment Company Inc. acquired a new stake in NeoVolta during the 2nd quarter worth about $5,184,000. Alyeska Investment Group L.P. purchased a new stake in shares of NeoVolta in the second quarter worth approximately $4,882,000. BlackRock Inc. acquired a new stake in shares of NeoVolta during the second quarter worth approximately $1,633,000. BIP Wealth LLC purchased a new position in NeoVolta during the second quarter valued at approximately $675,000. Finally, Bank of America Corp DE grew its position in NeoVolta by 131,579.3% during the first quarter. Bank of America Corp DE now owns 38,187 shares of the company’s stock valued at $118,000 after purchasing an additional 38,158 shares in the last quarter. 5.11% of the stock is currently owned by institutional investors and hedge funds.

About NeoVolta

NeoVolta, Inc is a U.S.-based energy technology company that develops, manufactures and sells battery energy storage systems for residential applications. Its systems are designed to store electricity generated by solar panels or drawn from the grid, helping homeowners maintain power during outages and manage energy consumption.

The company’s product portfolio includes the NV14, NV24 and NV48 energy storage systems, which are intended to support whole-home or partial-home backup applications.