Short Interest in NeoVolta Inc. (NASDAQ:NEOV) Grows By 30.3%

NeoVolta Inc. (NASDAQ:NEOV) saw a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 1,420,000 shares, a growth of 30.3% from the February 13th total of 1,090,000 shares. Based on an average daily volume of 288,800 shares, the short-interest ratio is presently 4.9 days. Currently, 5.0% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NEOV. Legacy Investment Solutions LLC acquired a new position in shares of NeoVolta during the 3rd quarter worth about $10,768,000. Barclays PLC acquired a new position in NeoVolta in the 3rd quarter valued at about $35,000. Geode Capital Management LLC grew its stake in NeoVolta by 5.3% in the 3rd quarter. Geode Capital Management LLC now owns 306,324 shares of the company’s stock valued at $947,000 after buying an additional 15,427 shares during the last quarter. Sovran Advisors LLC acquired a new position in NeoVolta in the 4th quarter valued at about $636,000. Finally, Beacon Capital Management LLC acquired a new position in NeoVolta in the 4th quarter valued at about $26,000. 5.11% of the stock is currently owned by institutional investors and hedge funds.

NeoVolta Stock Down 3.0 %

NeoVolta stock opened at $2.60 on Wednesday. The firm has a market capitalization of $86.88 million, a PE ratio of -26.00 and a beta of -1.42. The company’s 50-day moving average is $3.40 and its 200-day moving average is $3.82. NeoVolta has a fifty-two week low of $0.77 and a fifty-two week high of $6.11. The company has a debt-to-equity ratio of 0.12, a current ratio of 12.03 and a quick ratio of 5.94.

NeoVolta (NASDAQ:NEOV) last released its quarterly earnings data on Friday, February 7th. The company reported ($0.03) earnings per share for the quarter. NeoVolta had a negative return on equity of 76.86% and a negative net margin of 128.91%.

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.