NeoVolta, Inc. (NASDAQ:NEOV) Receives Average Rating of “Hold” from Brokerages

NeoVolta, Inc. (NASDAQ:NEOV – Get Free Report) has been given a consensus recommendation of “Hold” by the six ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $9.50.

A number of analysts have commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of NeoVolta in a report on Friday, June 26th. Northland Securities began coverage on NeoVolta in a report on Wednesday, July 29th. They set an “outperform” rating on the stock. Lake Street Capital initiated coverage on NeoVolta in a research report on Friday, June 26th. They set a “buy” rating and a $11.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $8.00 price objective on shares of NeoVolta in a report on Thursday, July 2nd.

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NeoVolta Stock Down 2.9%

Shares of NEOV opened at $3.34 on Friday. The company has a market capitalization of $142.65 million, a P/E ratio of -10.12 and a beta of -1.02. The firm has a 50 day moving average of $2.54 and a 200 day moving average of $2.92. NeoVolta has a twelve month low of $1.36 and a twelve month high of $7.13.

Institutional Trading of NeoVolta

A number of large investors have recently made changes to their positions in the stock. Alyeska Investment Group L.P. purchased a new position in shares of NeoVolta during the second quarter valued at approximately $4,882,000. AWM Investment Company Inc. purchased a new stake in NeoVolta in the second quarter worth approximately $5,184,000. BlackRock Inc. purchased a new stake in NeoVolta in the second quarter worth approximately $1,633,000. BIP Wealth LLC bought a new stake in NeoVolta in the 2nd quarter worth approximately $675,000. Finally, Bank of America Corp DE grew its position in 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 purchasing an additional 38,158 shares during the period. 5.11% of the stock is currently owned by institutional investors.

NeoVolta Company Profile

(Get Free Report)

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.

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