Sovran Advisors LLC Boosts Stock Holdings in NeoVolta, Inc. $NEOV

Sovran Advisors LLC raised its stake in NeoVolta, Inc. (NASDAQ:NEOV) by 97.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 457,687 shares of the company’s stock after acquiring an additional 225,516 shares during the period. Sovran Advisors LLC owned approximately 1.32% of NeoVolta worth $1,391,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of NEOV. Qube Research & Technologies Ltd purchased a new position in shares of NeoVolta during the third quarter valued at about $48,000. Millennium Management LLC purchased a new stake in shares of NeoVolta in the third quarter worth about $53,000. Bank of America Corp DE lifted its position in shares of NeoVolta by 4,929.4% in the third quarter. Bank of America Corp DE now owns 14,736 shares of the company’s stock worth $66,000 after buying an additional 14,443 shares in the last quarter. MGO One Seven LLC bought a new position in NeoVolta during the third quarter valued at approximately $164,000. Finally, Vanguard Group Inc. boosted its stake in NeoVolta by 11.5% during the third quarter. Vanguard Group Inc. now owns 458,988 shares of the company’s stock valued at $2,047,000 after buying an additional 47,521 shares during the last quarter. Hedge funds and other institutional investors own 5.11% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on NEOV shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NeoVolta in a research note on Thursday, January 22nd. Wall Street Zen downgraded NeoVolta from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 21st. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce”.

NeoVolta Price Performance

Shares of NASDAQ NEOV opened at $3.23 on Monday. The company has a current ratio of 2.10, a quick ratio of 1.60 and a debt-to-equity ratio of 0.13. NeoVolta, Inc. has a 12-month low of $1.80 and a 12-month high of $7.13. The firm’s 50-day moving average price is $3.77 and its 200-day moving average price is $4.10. The stock has a market capitalization of $137.95 million, a price-to-earnings ratio of -11.14 and a beta of -0.66.

NeoVolta (NASDAQ:NEOV) last released its quarterly earnings results on Friday, February 13th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.12). NeoVolta had a negative return on equity of 284.92% and a negative net margin of 54.71%.The company had revenue of $4.65 million during the quarter, compared to analysts’ expectations of $4.40 million.

NeoVolta 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.