NeoVolta (NASDAQ:NEOV – Get Free Report) announced its quarterly earnings results on Wednesday. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.15), Zacks reports. NeoVolta had a negative net margin of 63.35% and a negative return on equity of 141.89%.
NeoVolta Price Performance
NeoVolta stock traded down $0.19 during mid-day trading on Wednesday, hitting $3.17. 1,543,772 shares of the company were exchanged, compared to its average volume of 1,536,374. The company has a market capitalization of $179.45 million, a P/E ratio of -9.61 and a beta of -0.87. The business’s 50 day simple moving average is $3.09 and its two-hundred day simple moving average is $2.89. NeoVolta has a 12-month low of $1.36 and a 12-month high of $7.13.
Wall Street Analyst Weigh In
Several analysts recently commented on NEOV shares. UBS Group reiterated a “buy” rating on shares of NeoVolta in a research report on Tuesday, September 1st. Lake Street Capital began coverage on NeoVolta in a research report on Friday, June 26th. They issued a “buy” rating and a $11.00 price target on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of NeoVolta in a research note on Friday, June 26th. Northland Securities started coverage on shares of NeoVolta in a research note on Wednesday, July 29th. They issued an “outperform” rating on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 target price on shares of NeoVolta in a report on Tuesday, September 15th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, NeoVolta has an average rating of “Hold” and a consensus target price of $9.50.
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.
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