NeoVolta (NASDAQ:NEOV) Trading Down 4.8% – What’s Next?

NeoVolta Inc. (NASDAQ:NEOV) shares dropped 4.8% during trading on Monday . The stock traded as low as $5.02 and last traded at $5.19. Approximately 162,624 shares traded hands during trading, an increase of 9% from the average daily volume of 149,840 shares. The stock had previously closed at $5.45.

Wall Street Analyst Weigh In

Separately, Maxim Group lifted their price objective on shares of NeoVolta from $4.75 to $7.50 and gave the company a “buy” rating in a research note on Wednesday, November 13th.

NeoVolta Trading Down 4.8 %

The stock has a fifty day moving average price of $4.54 and a 200 day moving average price of $3.44. The firm has a market cap of $173.15 million, a price-to-earnings ratio of -57.67 and a beta of -1.42.

NeoVolta (NASDAQ:NEOV) last released its earnings results on Friday, November 8th. The company reported ($0.03) earnings per share for the quarter. NeoVolta had a negative return on equity of 58.84% and a negative net margin of 114.93%. The firm had revenue of $0.59 million for the quarter.

Hedge Funds Weigh In On NeoVolta

Several large investors have recently made changes to their positions in the business. Centennial Wealth Advisory LLC bought a new position in NeoVolta in the 3rd quarter worth approximately $31,000. Barclays PLC acquired a new stake in shares of NeoVolta in the third quarter worth $35,000. Geode Capital Management LLC increased its position in NeoVolta by 5.3% during the third quarter. Geode Capital Management LLC now owns 306,324 shares of the company’s stock worth $947,000 after acquiring an additional 15,427 shares during the period. Finally, Legacy Investment Solutions LLC acquired a new position in NeoVolta during the 3rd quarter valued at $10,768,000. Institutional investors and hedge funds 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.