NeoVolta’s (NEOV) “Hold” Rating Reiterated at Maxim Group

Maxim Group reissued their hold rating on shares of NeoVolta (NASDAQ:NEOV) in a research report report published on Wednesday morning, Marketbeat Ratings reports.

NeoVolta Price Performance

Shares of NASDAQ NEOV opened at $4.87 on Wednesday. The firm has a 50-day simple moving average of $4.49 and a 200-day simple moving average of $3.57. The stock has a market capitalization of $166.60 million, a price-to-earnings ratio of -32.46 and a beta of -0.86. The company has a quick ratio of 2.28, a current ratio of 3.80 and a debt-to-equity ratio of 0.10. NeoVolta has a 52 week low of $1.80 and a 52 week high of $6.11.

NeoVolta (NASDAQ:NEOV) last issued its earnings results on Monday, September 29th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). The business had revenue of $4.75 million during the quarter, compared to analyst estimates of $4.30 million. NeoVolta had a negative net margin of 59.75% and a negative return on equity of 137.02%.

Institutional Investors Weigh In On NeoVolta

A number of hedge funds have recently modified their holdings of the company. Legacy Wealth Managment LLC ID grew its holdings in shares of NeoVolta by 26.1% in the second quarter. Legacy Wealth Managment LLC ID now owns 4,567,051 shares of the company’s stock valued at $15,071,000 after purchasing an additional 944,758 shares during the period. BIP Wealth LLC grew its holdings in shares of NeoVolta by 3.2% in the first quarter. BIP Wealth LLC now owns 226,225 shares of the company’s stock valued at $491,000 after purchasing an additional 7,119 shares during the period. Sovran Advisors LLC grew its holdings in shares of NeoVolta by 36.6% in the first quarter. Sovran Advisors LLC now owns 166,671 shares of the company’s stock valued at $353,000 after purchasing an additional 44,671 shares during the period. Rossby Financial LCC grew its holdings in shares of NeoVolta by 41.1% in the first quarter. Rossby Financial LCC now owns 115,000 shares of the company’s stock valued at $250,000 after purchasing an additional 33,500 shares during the period. Finally, Bank of America Corp DE grew its holdings in shares of NeoVolta by 15,380.2% in the fourth quarter. Bank of America Corp DE now owns 46,131 shares of the company’s stock valued at $240,000 after purchasing an additional 45,833 shares during the period. Hedge funds and other institutional investors 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.