Sidoti Weighs in on NeoVolta's FY2029 Earnings (NASDAQ:NEOV)

NeoVolta, Inc. (NASDAQ:NEOV - Free Report) - Analysts at Sidoti decreased their FY2029 EPS estimates for NeoVolta in a research note issued on Monday, July 27th. Sidoti analyst S. Ferazani now anticipates that the company will post earnings per share of $0.44 for the year, down from their prior forecast of $0.45. The consensus estimate for NeoVolta's current full-year earnings is ($0.37) per share.

NeoVolta (NASDAQ:NEOV - Get Free Report) last posted its earnings results on Thursday, May 14th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.07. The company had revenue of $2.02 million during the quarter, compared to analyst estimates of $3.41 million. NeoVolta had a negative return on equity of 141.89% and a negative net margin of 63.35%.

A number of other brokerages also recently commented on NEOV. Zacks Research upgraded NeoVolta to a "hold" rating in a research note on Tuesday, April 21st. Weiss Ratings reiterated a "sell (e+)" rating on shares of NeoVolta in a research note on Friday, June 26th. Needham & Company LLC reissued a "buy" rating and set a $8.00 price target on shares of NeoVolta in a report on Thursday, July 2nd. Finally, Lake Street Capital began coverage on shares of NeoVolta in a research report on Friday, June 26th. They set a "buy" rating and a $11.00 price target for the company. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $9.50.

NeoVolta Trading Up 1.4%

Shares of NASDAQ NEOV opened at $2.18 on Tuesday. The company has a market cap of $93.11 million, a price-to-earnings ratio of -6.61 and a beta of -1.09. NeoVolta has a 12-month low of $1.36 and a 12-month high of $7.13. The stock's 50 day simple moving average is $2.28 and its 200 day simple moving average is $3.11.

Insider Buying and Selling

In related news, EVP Steve Bond purchased 47,000 shares of the company's stock in a transaction on Tuesday, May 19th. The shares were bought at an average cost of $2.09 per share, for a total transaction of $98,230.00. Following the transaction, the executive vice president owned 797,000 shares of the company's stock, valued at $1,665,730. This represents a 6.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 4.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NEOV. Sovran Advisors LLC raised its holdings in NeoVolta by 97.1% during the fourth quarter. Sovran Advisors LLC now owns 457,687 shares of the company's stock worth $1,391,000 after purchasing an additional 225,516 shares in the last quarter. Vanguard Group Inc. boosted its stake in NeoVolta by 11.5% during the 3rd quarter. Vanguard Group Inc. now owns 458,988 shares of the company's stock valued at $2,047,000 after purchasing an additional 47,521 shares in the last quarter. Geode Capital Management LLC boosted its stake in NeoVolta by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 329,747 shares of the company's stock valued at $1,003,000 after purchasing an additional 9,385 shares in the last quarter. 683 Capital Management LLC acquired a new position in shares of NeoVolta during the 4th quarter valued at $589,000. Finally, State Street Corp increased its position in shares of NeoVolta by 8.5% during the 4th quarter. State Street Corp now owns 135,964 shares of the company's stock valued at $413,000 after purchasing an additional 10,700 shares during the period. 5.11% of the stock is currently owned by institutional investors.

About NeoVolta

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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