NeoVolta (NASDAQ:NEOV) Trading Down 3.9% – Time to Sell?

NeoVolta, Inc. (NASDAQ:NEOV)’s stock price traded down 3.9% during mid-day trading on Tuesday . The company traded as low as $3.17 and last traded at $3.23. 222,445 shares traded hands during mid-day trading, an increase of 16% from the average session volume of 192,113 shares. The stock had previously closed at $3.36.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Maxim Group reiterated a “hold” rating on shares of NeoVolta in a research report on Wednesday, October 1st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NeoVolta in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce”.

NeoVolta Stock Performance

The stock’s 50 day moving average price is $4.11 and its two-hundred day moving average price is $4.21. The company has a current ratio of 1.47, a quick ratio of 1.21 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $112.21 million, a price-to-earnings ratio of -20.19 and a beta of -0.84.

NeoVolta (NASDAQ:NEOV) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.04) earnings per share for the quarter. The firm had revenue of $6.65 million during the quarter. NeoVolta had a negative return on equity of 174.64% and a negative net margin of 36.67%.

Institutional Trading of NeoVolta

Institutional investors and hedge funds have recently modified their holdings of the business. Legacy Wealth Managment LLC ID increased its position in NeoVolta by 26.1% during the second quarter. Legacy Wealth Managment LLC ID now owns 4,567,051 shares of the company’s stock worth $15,071,000 after buying an additional 944,758 shares in the last quarter. Sovran Advisors LLC lifted its position in shares of NeoVolta by 39.1% in the third quarter. Sovran Advisors LLC now owns 232,171 shares of the company’s stock valued at $1,035,000 after acquiring an additional 65,250 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in NeoVolta during the 3rd quarter worth about $48,000. Bank of America Corp DE raised its stake in NeoVolta by 4,929.4% in the 3rd quarter. Bank of America Corp DE now owns 14,736 shares of the company’s stock valued at $66,000 after purchasing an additional 14,443 shares during the last quarter. Finally, MGO One Seven LLC purchased a new position in NeoVolta in the 3rd quarter valued at about $164,000. Hedge funds and other 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.