NeoVolta (NASDAQ:NEOV) Stock Price Down 4.8% – Here’s What Happened

NeoVolta Inc. (NASDAQ:NEOV) was down 4.8% on Monday . The stock traded as low as $5.02 and last traded at $5.19. Approximately 162,624 shares traded hands during mid-day trading, an increase of 9% from the average daily volume of 149,840 shares. The stock had previously closed at $5.45.

Analyst Upgrades and Downgrades

Separately, Maxim Group lifted their target price on NeoVolta from $4.75 to $7.50 and gave the stock a “buy” rating in a research report on Wednesday, November 13th.

NeoVolta Stock Down 4.8 %

The business has a 50-day moving average price of $4.54 and a 200-day moving average price of $3.44. The firm has a market capitalization of $173.15 million, a P/E ratio of -57.67 and a beta of -1.42.

NeoVolta (NASDAQ:NEOV) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.03) EPS for the quarter. NeoVolta had a negative return on equity of 58.84% and a negative net margin of 114.93%. The business had revenue of $0.59 million for the quarter.

Hedge Funds Weigh In On NeoVolta

A number of hedge funds have recently modified their holdings of NEOV. Centennial Wealth Advisory LLC acquired a new stake in NeoVolta in the 3rd quarter valued at $31,000. Barclays PLC acquired a new stake in shares of NeoVolta in the 3rd quarter valued at $35,000. Geode Capital Management LLC grew its holdings in shares of NeoVolta by 5.3% in the 3rd quarter. Geode Capital Management LLC now owns 306,324 shares of the company’s stock worth $947,000 after purchasing an additional 15,427 shares during the last quarter. Finally, Legacy Investment Solutions LLC bought a new stake in shares of NeoVolta in the 3rd quarter worth about $10,768,000. 5.11% of the stock is owned by institutional investors and hedge funds.

NeoVolta Company Profile

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.