NeoVolta (NASDAQ:NEOV) Receives "Sell (E+)" Rating from Weiss Ratings

Key Points

• NeoVolta (NASDAQ:NEOV) has received a "Sell (E+)" rating from Weiss Ratings, reissued in a recent research report.
• The company reported a quarterly loss of (0.05) EPS, missing analysts' estimates, while achieving revenue of $4.75 million for the quarter.
• Institutional investors currently own 5.11% of NeoVolta's stock, with several hedge funds significantly increasing their holdings in recent quarters.

NeoVolta (NASDAQ:NEOV - Get Free Report)'s stock had its "sell (e+)" rating reissued by analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Separately, Maxim Group restated a "hold" rating on shares of NeoVolta in a research report on Wednesday, October 1st. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, NeoVolta has a consensus rating of "Reduce" and a consensus target price of $7.50.

NeoVolta Stock Up 3.0%

Shares of NASDAQ:NEOV opened at $5.89 on Wednesday. NeoVolta has a 12 month low of $1.80 and a 12 month high of $6.15. The company's 50-day moving average price is $4.53 and its two-hundred day moving average price is $3.63. The company has a quick ratio of 1.29, a current ratio of 1.90 and a debt-to-equity ratio of 0.13. The firm has a market cap of $201.52 million, a P/E ratio of -39.26 and a beta of -0.86.

NeoVolta (NASDAQ:NEOV - Get Free Report) last issued its quarterly earnings data on Monday, September 29th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.04). NeoVolta had a negative return on equity of 144.53% and a negative net margin of 59.75%.The company had revenue of $4.75 million for the quarter, compared to the consensus estimate of $4.30 million.

Institutional Trading of NeoVolta

Several hedge funds have recently bought and sold shares of NEOV. Bank of America Corp DE raised its holdings in NeoVolta by 15,380.2% during the 4th quarter. Bank of America Corp DE now owns 46,131 shares of the company's stock worth $240,000 after buying an additional 45,833 shares during the period. Sovran Advisors LLC raised its holdings in NeoVolta by 36.6% during the 1st quarter. Sovran Advisors LLC now owns 166,671 shares of the company's stock worth $353,000 after buying an additional 44,671 shares during the period. Rossby Financial LCC raised its holdings in NeoVolta by 41.1% during the 1st quarter. Rossby Financial LCC now owns 115,000 shares of the company's stock worth $250,000 after buying an additional 33,500 shares during the period. BIP Wealth LLC raised its holdings in NeoVolta by 3.2% during the 1st quarter. BIP Wealth LLC now owns 226,225 shares of the company's stock worth $491,000 after buying an additional 7,119 shares during the period. Finally, Legacy Wealth Managment LLC ID raised its holdings in NeoVolta by 2.7% during the 1st quarter. Legacy Wealth Managment LLC ID now owns 3,622,293 shares of the company's stock worth $7,860,000 after buying an additional 94,397 shares during the period. 5.11% of the stock is currently owned by institutional investors and hedge funds.

NeoVolta Company Profile

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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