NeoVolta, Inc. (NASDAQ:NEOV) Given Consensus Rating of "Hold" by Analysts

Key Points

• NeoVolta has a consensus “Hold” rating from seven analysts: four recommend buying, two recommend holding, and one recommends selling. The average 12-month price target is $9.50.
• NEOV shares opened at $3.92, up 1.6%, with a 12-month trading range of $1.36 to $7.13 and a market capitalization of approximately $221.9 million.
• Institutional investors recently established new positions, including AWM Investment Company, Alyeska Investment Group and BlackRock; institutions collectively own 5.11% of NeoVolta’s shares.

NeoVolta, Inc. (NASDAQ:NEOV - Get Free Report) has earned a consensus rating of "Hold" from the seven research firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $9.50.

Several brokerages have weighed in on NEOV. UBS Group reaffirmed a "buy" rating on shares of NeoVolta in a report on Tuesday, September 1st. Northland Securities started coverage on shares of NeoVolta in a research report on Wednesday, July 29th. They set an "outperform" rating on the stock. Weiss Ratings reiterated a "sell (e+)" rating on shares of NeoVolta in a research note on Friday, June 26th. Lake Street Capital started coverage on NeoVolta in a report on Friday, June 26th. They set a "buy" rating and a $11.00 price target on the stock. Finally, Needham & Company LLC restated a "buy" rating and issued a $8.00 price objective on shares of NeoVolta in a research report on Thursday, July 2nd.

NeoVolta Trading Up 1.6%

Shares of NASDAQ:NEOV opened at $3.92 on Wednesday. The stock has a 50 day moving average of $2.88 and a 200 day moving average of $2.88. The company has a market cap of $221.91 million, a PE ratio of -11.88 and a beta of -0.87. NeoVolta has a 12-month low of $1.36 and a 12-month high of $7.13.

Institutional Trading of NeoVolta

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AWM Investment Company Inc. bought a new position in NeoVolta in the 2nd quarter worth approximately $5,184,000. Alyeska Investment Group L.P. purchased a new position in shares of NeoVolta in the second quarter worth $4,882,000. BlackRock Inc. bought a new position in shares of NeoVolta during the second quarter worth $1,633,000. BIP Wealth LLC bought a new position in shares of NeoVolta during the second quarter worth $675,000. Finally, 683 Capital Management LLC purchased a new position in NeoVolta during the fourth quarter valued at $589,000. Institutional investors own 5.11% of the company's stock.

About NeoVolta

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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