NeoVolta Inc. (NASDAQ:NEOV) Sees Large Growth in Short Interest

NeoVolta Inc. (NASDAQ:NEOV) was the recipient of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 168,700 shares, an increase of 77.0% from the March 31st total of 95,300 shares. Based on an average daily trading volume, of 110,300 shares, the short-interest ratio is currently 1.5 days. Approximately 0.6% of the company’s shares are sold short.

NeoVolta Price Performance

Shares of NASDAQ:NEOV opened at $2.08 on Friday. NeoVolta has a 1 year low of $0.63 and a 1 year high of $4.40. The company has a market cap of $68.97 million, a PE ratio of -34.58 and a beta of -1.24. The stock’s 50-day moving average is $1.43 and its 200 day moving average is $1.67.

NeoVolta (NASDAQ:NEOV) last announced its quarterly earnings results on Friday, February 9th. The company reported ($0.02) earnings per share (EPS) for the quarter. The business had revenue of $1.02 million for the quarter. NeoVolta had a negative net margin of 61.89% and a negative return on equity of 31.11%.

Institutional Trading of NeoVolta

An institutional investor recently bought a new position in NeoVolta stock. BIP Wealth LLC purchased a new position in NeoVolta Inc. (NASDAQ:NEOV) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 200,214 shares of the company’s stock, valued at approximately $499,000. BIP Wealth LLC owned approximately 0.60% of NeoVolta as of its most recent SEC filing. 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.