NeoVolta (NASDAQ:NEOV) Stock Price Down 0.4% - Here's What Happened

Key Points

• NeoVolta's stock price decreased by 0.4% to $5.05 amid lower trading volume, with only 149,771 shares exchanging hands compared to an average of 331,597 shares.
• The company's latest earnings report revealed a loss of ($0.04) per share, which missed analysts' expectations, with revenue of $2.01 million falling short of estimates of $2.10 million.
• Institutional ownership of NeoVolta's stock stands at 5.11%, with several investors making new acquisitions in the fourth quarter, indicating ongoing interest in the company's potential.

NeoVolta, Inc. (NASDAQ:NEOV - Get Free Report)'s stock price fell 0.4% during mid-day trading on Wednesday . The company traded as low as $4.99 and last traded at $5.05. 149,771 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 331,597 shares. The stock had previously closed at $5.07.

NeoVolta Trading Down 0.4%

The firm's 50-day simple moving average is $3.83 and its 200 day simple moving average is $3.22. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.80 and a quick ratio of 2.28. The firm has a market capitalization of $172.31 million, a price-to-earnings ratio of -42.08 and a beta of -0.91.

NeoVolta (NASDAQ:NEOV - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.02). NeoVolta had a negative return on equity of 105.35% and a negative net margin of 96.69%. The business had revenue of $2.01 million for the quarter, compared to analyst estimates of $2.10 million.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NEOV. Point72 Asia Singapore Pte. Ltd. acquired a new position in NeoVolta during the 4th quarter worth approximately $47,000. Balyasny Asset Management L.P. bought a new stake in shares of NeoVolta during the fourth quarter worth $90,000. Arlington Financial Advisors LLC acquired a new position in shares of NeoVolta during the first quarter worth $126,000. Marshall Wace LLP bought a new position in shares of NeoVolta in the 4th quarter valued at $167,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of NeoVolta during the 4th quarter valued at $185,000. Institutional investors own 5.11% of the company's stock.

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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