Sovran Advisors LLC Takes Position in NeoVolta Inc. (NASDAQ:NEOV)

Sovran Advisors LLC bought a new position in shares of NeoVolta Inc. (NASDAQ:NEOV) in the fourth quarter, Holdings Channel reports. The institutional investor bought 122,000 shares of the company’s stock, valued at approximately $636,000.

Other hedge funds have also made changes to their positions in the company. Centennial Wealth Advisory LLC acquired a new stake in NeoVolta during the 3rd quarter valued at $31,000. Legacy Investment Solutions LLC bought a new stake in shares of NeoVolta during the third quarter worth $10,768,000. Barclays PLC bought a new stake in shares of NeoVolta during the third quarter worth $35,000. Finally, Geode Capital Management LLC increased its stake in shares of NeoVolta by 5.3% in the third 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 in the last quarter. Institutional investors and hedge funds own 5.11% of the company’s stock.

NeoVolta Price Performance

NEOV opened at $3.10 on Wednesday. The stock has a market capitalization of $103.42 million, a P/E ratio of -34.44 and a beta of -1.44. The company’s 50 day simple moving average is $4.37 and its 200-day simple moving average is $3.77. NeoVolta Inc. has a one year low of $0.63 and a one year high of $6.11.

NeoVolta (NASDAQ:NEOV) last posted its quarterly earnings data on Friday, February 7th. The company reported ($0.03) earnings per share (EPS) for the quarter. NeoVolta had a negative return on equity of 58.84% and a negative net margin of 114.93%.

Wall Street Analysts Forecast Growth

Separately, Maxim Group upped their price target on shares of NeoVolta from $4.75 to $7.50 and gave the stock a “buy” rating in a research report on Wednesday, November 13th.

NeoVolta 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.