NeoVolta, Inc. (NASDAQ:NEOV – Get Free Report) Director John Hass purchased 25,000 shares of NeoVolta stock in a transaction dated Wednesday, September 30th. The stock was bought at an average price of $2.61 per share, with a total value of $65,250.00. Following the acquisition, the director directly owned 126,190 shares of the company’s stock, valued at approximately $329,355.90. This trade represents a 24.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
NeoVolta Stock Down 10.3%
Shares of NEOV stock opened at $2.18 on Friday. The firm has a fifty day moving average of $3.18 and a 200-day moving average of $2.74. NeoVolta, Inc. has a 12-month low of $1.36 and a 12-month high of $7.13. The company has a market capitalization of $128.64 million, a price-to-earnings ratio of -4.19 and a beta of -0.77.
NeoVolta (NASDAQ:NEOV – Get Free Report) last issued its quarterly earnings data on Wednesday, September 23rd. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.15). The company had revenue of $0.01 million for 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, equities analysts expect that NeoVolta, Inc. will post -0.43 EPS for the current year.
Hedge Funds Weigh In On NeoVolta
A number of large investors have recently modified their holdings of the business. Alyeska Investment Group L.P. bought a new position in shares of NeoVolta in the 2nd quarter valued at about $4,882,000. BlackRock Inc. acquired a new stake in shares of NeoVolta in the second quarter valued at about $1,633,000. AWM Investment Company Inc. bought a new stake in NeoVolta during the second quarter worth about $5,184,000. BIP Wealth LLC bought a new stake in NeoVolta during the second quarter worth about $675,000. Finally, Bank of America Corp DE raised its holdings 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 worth $118,000 after acquiring an additional 38,158 shares in the last quarter. 5.11% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have issued reports on NEOV. UBS Group reissued a “buy” rating on shares of NeoVolta in a research note on Tuesday, September 1st. Northland Securities started coverage on NeoVolta in a research report on Wednesday, July 29th. They set an “outperform” rating for the company. Weiss Ratings raised NeoVolta from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, October 6th. Needham & Company LLC reiterated a “buy” rating and set a $8.00 price objective on shares of NeoVolta in a report on Thursday, September 24th. Finally, Lake Street Capital started coverage on NeoVolta in a research report on Friday, June 26th. They issued a “buy” rating and a $11.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, NeoVolta currently has a consensus rating of “Moderate Buy” and an average price target of $9.50.
View Our Latest Report on NeoVolta
NeoVolta Company Profile
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.
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