NeoVolta, Inc. $NEOV Shares Sold by Rossby Financial LCC

Rossby Financial LCC lowered its position in shares of NeoVolta, Inc. (NASDAQ:NEOV) by 9.6% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 104,000 shares of the company’s stock after selling 11,000 shares during the quarter. Rossby Financial LCC owned about 0.30% of NeoVolta worth $343,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sovran Advisors LLC raised its stake in shares of NeoVolta by 36.6% during the 1st quarter. Sovran Advisors LLC now owns 166,671 shares of the company’s stock valued at $353,000 after buying an additional 44,671 shares during the last quarter. BIP Wealth LLC raised its stake in shares of NeoVolta by 3.2% during the 1st quarter. BIP Wealth LLC now owns 226,225 shares of the company’s stock valued at $491,000 after buying an additional 7,119 shares during the last quarter. Finally, Legacy Wealth Managment LLC ID raised its stake in shares of NeoVolta by 2.7% during the 1st quarter. Legacy Wealth Managment LLC ID now owns 3,622,293 shares of the company’s stock valued at $7,860,000 after buying an additional 94,397 shares during the last quarter. Institutional investors and hedge funds own 5.11% of the company’s stock.

NeoVolta Price Performance

NASDAQ:NEOV opened at $4.19 on Wednesday. NeoVolta, Inc. has a 12 month low of $1.80 and a 12 month high of $6.19. The stock has a 50 day moving average of $4.54 and a two-hundred day moving average of $3.89. The company has a current ratio of 1.90, a quick ratio of 1.29 and a debt-to-equity ratio of 0.13. The firm has a market cap of $143.34 million, a P/E ratio of -27.93 and a beta of -0.86.

NeoVolta (NASDAQ:NEOV) last posted its quarterly earnings data on Monday, September 29th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.04). NeoVolta had a negative return on equity of 144.53% and a negative net margin of 59.75%.The firm had revenue of $4.75 million for the quarter, compared to analysts’ expectations of $4.30 million.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of NeoVolta in a research note on Wednesday, October 8th. Maxim Group reiterated a “hold” rating on shares of NeoVolta in a research note on Wednesday, October 1st. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, NeoVolta currently has an average rating of “Reduce” and a consensus target price of $7.50.

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.