AWM Investment Company Inc. acquired a new stake in shares of NeoVolta, Inc. (NASDAQ:NEOV - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,645,557 shares of the company's stock, valued at approximately $5,184,000. AWM Investment Company Inc. owned approximately 3.85% of NeoVolta as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in NEOV. Qube Research & Technologies Ltd purchased a new position in NeoVolta in the 3rd quarter worth about $48,000. Virtu Financial LLC purchased a new stake in shares of NeoVolta during the 4th quarter worth about $49,000. Millennium Management LLC bought a new stake in NeoVolta in the third quarter worth approximately $53,000. Bank of America Corp DE boosted its holdings 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. Finally, Truist Financial Corp acquired a new position in shares of NeoVolta during the 4th quarter valued at about $129,000. 5.11% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have recently commented on NEOV. Lake Street Capital began coverage on NeoVolta in a research note on Friday, June 26th. They issued a "buy" rating and a $11.00 price objective on the stock. Needham & Company LLC restated a "buy" rating and set a $8.00 price target on shares of NeoVolta in a research note on Thursday, July 2nd. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of NeoVolta in a report on Friday, June 26th. Finally, Northland Securities initiated coverage on NeoVolta in a research report on Wednesday, July 29th. They issued an "outperform" rating for the company. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $9.50.
Read Our Latest Stock Analysis on NeoVolta
NeoVolta Stock Performance
Shares of NEOV stock opened at $3.39 on Wednesday. The company has a market capitalization of $191.91 million, a P/E ratio of -10.27 and a beta of -1.02. NeoVolta, Inc. has a 52 week low of $1.36 and a 52 week high of $7.13. The company's 50 day moving average price is $2.60 and its two-hundred day moving average price is $2.89.
NeoVolta Company Profile
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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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