NeoVolta (NASDAQ:NEOV) Lowered to “Strong Sell” Rating by Wall Street Zen

NeoVolta (NASDAQ:NEOV) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “strong sell” rating in a report issued on Saturday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of NeoVolta in a report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce”.

NeoVolta Stock Up 1.7%

NEOV stock opened at $3.67 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.10 and a quick ratio of 1.21. The stock has a market capitalization of $156.27 million, a P/E ratio of -12.66 and a beta of -0.78. NeoVolta has a fifty-two week low of $1.80 and a fifty-two week high of $7.13. The business has a 50-day moving average of $3.89 and a 200-day moving average of $4.24.

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

Institutional Investors Weigh In On NeoVolta

Institutional investors and hedge funds have recently made changes to their positions in the stock. Legacy Wealth Managment LLC ID grew its stake in shares of NeoVolta by 3.1% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 5,669,083 shares of the company’s stock valued at $17,234,000 after buying an additional 169,822 shares in the last quarter. Vanguard Group Inc. lifted its stake in NeoVolta by 11.5% in the third quarter. Vanguard Group Inc. now owns 458,988 shares of the company’s stock valued at $2,047,000 after acquiring an additional 47,521 shares during the last quarter. Sovran Advisors LLC lifted its stake in NeoVolta by 97.1% in the fourth quarter. Sovran Advisors LLC now owns 457,687 shares of the company’s stock valued at $1,391,000 after acquiring an additional 225,516 shares during the last quarter. Geode Capital Management LLC lifted its stake in NeoVolta by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 329,747 shares of the company’s stock valued at $1,003,000 after acquiring an additional 9,385 shares during the last quarter. Finally, 683 Capital Management LLC bought a new position in shares of NeoVolta in the 4th quarter valued at about $589,000. Institutional investors own 5.11% of the company’s stock.

About NeoVolta

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.