NeoVolta (NASDAQ:NEOV – Get Free Report) posted its quarterly earnings data on Thursday. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.07, Zacks reports. NeoVolta had a negative return on equity of 284.92% and a negative net margin of 54.71%.
NeoVolta Stock Down 5.7%
Shares of NASDAQ:NEOV traded down $0.17 during midday trading on Thursday, reaching $2.82. 727,643 shares of the company’s stock were exchanged, compared to its average volume of 430,170. The company’s 50 day simple moving average is $3.23 and its two-hundred day simple moving average is $3.71. NeoVolta has a 12 month low of $2.38 and a 12 month high of $7.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.10 and a quick ratio of 1.60.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on NEOV. Weiss Ratings reissued a “sell (e+)” rating on shares of NeoVolta in a research report on Thursday, January 22nd. Wall Street Zen cut NeoVolta from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 21st. Finally, Zacks Research raised NeoVolta to a “hold” rating in a research report on Tuesday, April 21st. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce”.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in NEOV. 683 Capital Management LLC acquired a new position in NeoVolta in the fourth quarter worth about $589,000. OMERS ADMINISTRATION Corp acquired a new position in NeoVolta in the fourth quarter worth about $230,000. Vanguard Group Inc. raised its position in NeoVolta by 11.5% in the third quarter. Vanguard Group Inc. now owns 458,988 shares of the company’s stock worth $2,047,000 after purchasing an additional 47,521 shares in the last quarter. Virtu Financial LLC acquired a new position in NeoVolta in the fourth quarter worth about $49,000. Finally, Bank of America Corp DE raised its position in NeoVolta by 4,929.4% in the third quarter. Bank of America Corp DE now owns 14,736 shares of the company’s stock worth $66,000 after purchasing an additional 14,443 shares in the last quarter. Institutional investors and hedge funds own 5.11% of the company’s stock.
NeoVolta Company Profile
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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