NeoVolta (NASDAQ:NEOV) Director John Hass Buys 25,000 Shares of Company Stock

Key Points

• Director John Hass purchased 25,000 NeoVolta shares at an average price of $2.61, investing $65,250 and increasing his stake by 24.71% to 126,190 shares.
• NeoVolta shares rose 3.3% to $2.35, but the company reported a quarterly loss of $0.24 per share—worse than the $0.09 consensus estimate—and revenue of just $0.01 million versus expectations of $1.27 million.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $9.50, while institutional investors own 5.11% of the company.

NeoVolta, Inc. (NASDAQ:NEOV - Get Free Report) Director John Hass bought 25,000 shares of the company's stock in a transaction that occurred on Wednesday, September 30th. The shares were bought at an average price of $2.61 per share, for a total transaction of $65,250.00. Following the completion of the acquisition, the director owned 126,190 shares in the company, valued at approximately $329,355.90. This trade represents a 24.71% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

NeoVolta Trading Up 3.3%

NASDAQ:NEOV traded up $0.07 on Thursday, reaching $2.35. The stock had a trading volume of 447,985 shares, compared to its average volume of 1,550,068. The company has a 50-day moving average of $3.20 and a 200 day moving average of $2.76. The stock has a market cap of $138.38 million, a P/E ratio of -4.51 and a beta of -0.77. NeoVolta, Inc. has a 12-month low of $1.36 and a 12-month high of $7.13.

NeoVolta (NASDAQ:NEOV - Get Free Report) last posted its quarterly earnings results on Wednesday, September 23rd. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.15). NeoVolta had a negative net margin of 161.10% and a negative return on equity of 124.51%. The company had revenue of $0.01 million during the quarter, compared to analyst estimates of $1.27 million. On average, equities analysts predict that NeoVolta, Inc. will post -0.43 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. UBS Group reaffirmed a "buy" rating on shares of NeoVolta in a report on Tuesday, September 1st. Weiss Ratings raised NeoVolta from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, October 6th. Northland Securities assumed coverage on NeoVolta in a research report on Wednesday, July 29th. They issued an "outperform" rating on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $8.00 target price on shares of NeoVolta in a research note on Thursday, September 24th. Finally, Lake Street Capital began coverage on NeoVolta in a research report on Friday, June 26th. They set a "buy" rating and a $11.00 price target for the company. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $9.50.

Institutional Trading of NeoVolta

A number of hedge funds and other institutional investors have recently made changes to their positions in NEOV. Alyeska Investment Group L.P. purchased a new stake in NeoVolta during the second quarter valued at about $4,882,000. AWM Investment Company Inc. purchased a new position in NeoVolta during the 2nd quarter worth approximately $5,184,000. BlackRock Inc. acquired a new stake in NeoVolta during the 2nd quarter valued at $1,633,000. BIP Wealth LLC acquired a new stake in NeoVolta during the 2nd quarter valued at $675,000. Finally, Bank of America Corp DE lifted its holdings in shares of NeoVolta by 131,579.3% in the first quarter. Bank of America Corp DE now owns 38,187 shares of the company's stock valued at $118,000 after purchasing an additional 38,158 shares in the last quarter. 5.11% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.