NeoVolta (NASDAQ:NEOV) Announces Earnings Results

NeoVolta (NASDAQ:NEOV) announced its quarterly earnings data on Monday. The company reported ($0.04) EPS for the quarter, Zacks reports. The business had revenue of $6.65 million for the quarter. NeoVolta had a negative net margin of 36.67% and a negative return on equity of 158.82%.

NeoVolta Stock Up 14.0%

NASDAQ NEOV opened at $4.79 on Wednesday. The business has a fifty day moving average price of $4.66 and a 200 day moving average price of $4.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.29 and a current ratio of 1.90. The company has a market cap of $166.36 million, a P/E ratio of -29.94 and a beta of -0.87. NeoVolta has a one year low of $1.80 and a one year high of $6.19.

Analyst Ratings Changes

Several analysts recently commented on the company. Maxim Group reaffirmed a “hold” rating on shares of NeoVolta in a report on Wednesday, October 1st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NeoVolta in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, NeoVolta presently has an average rating of “Reduce” and a consensus target price of $7.50.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in NeoVolta stock. Vanguard Group Inc. raised its stake in NeoVolta, Inc. (NASDAQ:NEOV) by 11.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 458,988 shares of the company’s stock after buying an additional 47,521 shares during the quarter. Vanguard Group Inc. owned approximately 1.32% of NeoVolta worth $2,047,000 at the end of the most recent quarter. Institutional investors and hedge funds own 5.11% of the company’s stock.

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.