Steve Bond Purchases 47,000 Shares of NeoVolta (NASDAQ:NEOV) Stock

NeoVolta, Inc. (NASDAQ:NEOV) EVP Steve Bond purchased 47,000 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was bought at an average cost of $2.09 per share, with a total value of $98,230.00. Following the completion of the transaction, the executive vice president directly owned 797,000 shares in the company, valued at $1,665,730. The trade was a 6.27% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

NeoVolta Trading Up 31.0%

NASDAQ NEOV opened at $2.96 on Friday. The firm has a market capitalization of $126.42 million, a P/E ratio of -8.97 and a beta of -0.81. The business has a fifty day simple moving average of $3.10 and a 200 day simple moving average of $3.64. NeoVolta, Inc. has a 12 month low of $1.36 and a 12 month high of $7.13.

NeoVolta (NASDAQ:NEOV) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.07. NeoVolta had a negative return on equity of 141.89% and a negative net margin of 63.35%.The business had revenue of $2.02 million during the quarter, compared to analyst estimates of $3.41 million. As a group, sell-side analysts predict that NeoVolta, Inc. will post -0.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NeoVolta in a research report on Thursday, January 22nd. Wall Street Zen lowered NeoVolta from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 21st. Finally, Zacks Research raised NeoVolta to a “hold” rating in a research report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of NeoVolta by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 329,747 shares of the company’s stock worth $1,003,000 after acquiring an additional 9,385 shares during the period. State Street Corp grew its stake in shares of NeoVolta by 8.5% during the 4th quarter. State Street Corp now owns 135,964 shares of the company’s stock worth $413,000 after acquiring an additional 10,700 shares during the period. Qube Research & Technologies Ltd bought a new position in shares of NeoVolta during the 3rd quarter worth $48,000. Millennium Management LLC bought a new position in shares of NeoVolta during the 3rd quarter worth $53,000. Finally, Bank of America Corp DE grew its stake in shares of NeoVolta by 4,929.4% during the 3rd quarter. Bank of America Corp DE now owns 14,736 shares of the company’s stock worth $66,000 after acquiring an additional 14,443 shares during the period. Institutional investors own 5.11% of the company’s stock.

NeoVolta Company Profile

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.