NeoVolta (NASDAQ:NEOV) Earns "Hold" Rating from Maxim Group

Key Points

• Maxim Group has reissued a "hold" rating for NeoVolta (NASDAQ:NEOV) in a recent research note issued to investors.
• NeoVolta reported a quarterly loss of (0.05) EPS, missing the consensus estimate, but achieved revenue of $4.75 million, exceeding analyst expectations.
• Hedge funds have significantly increased their positions in NeoVolta, with one firm growing its stake by 15,380.2% in the last quarter.

NeoVolta (NASDAQ:NEOV - Get Free Report)'s stock had its "hold" rating reissued by Maxim Group in a research note issued to investors on Wednesday, MarketBeat Ratings reports.

NeoVolta Trading Down 2.0%

NASDAQ:NEOV opened at $4.46 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.28 and a current ratio of 3.80. The firm has a market cap of $152.18 million, a price-to-earnings ratio of -29.73 and a beta of -0.94. NeoVolta has a 52 week low of $1.80 and a 52 week high of $6.11. The firm has a 50-day moving average price of $4.50 and a two-hundred day moving average price of $3.53.

NeoVolta (NASDAQ:NEOV - Get Free Report) last posted its quarterly earnings data on Monday, September 29th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The firm had revenue of $4.75 million during the quarter, compared to analysts' expectations of $4.30 million. NeoVolta had a negative net margin of 59.75% and a negative return on equity of 137.02%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Legacy Wealth Managment LLC ID grew its stake in NeoVolta by 26.1% in the 2nd quarter. Legacy Wealth Managment LLC ID now owns 4,567,051 shares of the company's stock valued at $15,071,000 after buying an additional 944,758 shares in the last quarter. BIP Wealth LLC grew its stake in NeoVolta by 3.2% in the 1st quarter. BIP Wealth LLC now owns 226,225 shares of the company's stock valued at $491,000 after buying an additional 7,119 shares in the last quarter. Rossby Financial LCC grew its stake in NeoVolta by 41.1% in the 1st quarter. Rossby Financial LCC now owns 115,000 shares of the company's stock valued at $250,000 after buying an additional 33,500 shares in the last quarter. Sovran Advisors LLC grew its stake in NeoVolta by 36.6% in the 1st quarter. Sovran Advisors LLC now owns 166,671 shares of the company's stock valued at $353,000 after buying an additional 44,671 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in NeoVolta by 15,380.2% in the 4th quarter. Bank of America Corp DE now owns 46,131 shares of the company's stock valued at $240,000 after buying an additional 45,833 shares in the last quarter. 5.11% of the stock is currently owned by hedge funds and other institutional investors.

About NeoVolta

NeoVolta Inc designs, manufactures, and sells energy storage systems in the United States. It provides NV14, NV14-K, and NV 24 energy storage systems, which stores and uses energy through batteries and an inverter at residential or commercial sites. The company markets and sells its products directly to certified solar installers and solar equipment distributors.

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