NeoVolta (NASDAQ:NEOV) Receives Hold Rating from Maxim Group

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

NeoVolta Price Performance

Shares of NASDAQ:NEOV opened at $4.83 on Wednesday. The company has a market cap of $165.23 million, a P/E ratio of -32.20 and a beta of -0.87. 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. The business has a fifty day simple moving average of $4.49 and a 200-day simple moving average of $3.54.

NeoVolta (NASDAQ:NEOV) last announced its quarterly earnings data 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 analysts’ expectations 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 institutional investors have recently added to or reduced their stakes in NEOV. Bank of America Corp DE grew its position in NeoVolta by 15,380.2% during the fourth quarter. Bank of America Corp DE now owns 46,131 shares of the company’s stock valued at $240,000 after acquiring an additional 45,833 shares during the period. Rossby Financial LCC grew its position in NeoVolta by 41.1% during the first quarter. Rossby Financial LCC now owns 115,000 shares of the company’s stock valued at $250,000 after acquiring an additional 33,500 shares during the period. Sovran Advisors LLC grew its position in NeoVolta by 36.6% during the first quarter. Sovran Advisors LLC now owns 166,671 shares of the company’s stock valued at $353,000 after acquiring an additional 44,671 shares during the period. BIP Wealth LLC grew its position in NeoVolta by 3.2% during the first quarter. BIP Wealth LLC now owns 226,225 shares of the company’s stock valued at $491,000 after acquiring an additional 7,119 shares during the period. Finally, Legacy Wealth Managment LLC ID grew its position in NeoVolta by 2.7% during the first quarter. Legacy Wealth Managment LLC ID now owns 3,622,293 shares of the company’s stock valued at $7,860,000 after acquiring an additional 94,397 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.