NeoVolta, Inc. (NASDAQ:NEOV) Short Interest Update

NeoVolta, Inc. (NASDAQ:NEOV) was the recipient of a significant growth in short interest in the month of January. As of January 15th, there was short interest totaling 2,221,696 shares, a growth of 26.5% from the December 31st total of 1,756,862 shares. Based on an average trading volume of 356,904 shares, the short-interest ratio is presently 6.2 days. Currently, 6.7% of the company’s stock are sold short. Currently, 6.7% of the company’s stock are sold short. Based on an average trading volume of 356,904 shares, the short-interest ratio is presently 6.2 days.

Wall Street Analyst Weigh In

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’s stock. According to MarketBeat, the company presently has an average rating of “Reduce”.

NeoVolta Stock Up 11.2%

NASDAQ NEOV traded up $0.47 during trading hours on Monday, hitting $4.68. The company’s stock had a trading volume of 962,970 shares, compared to its average volume of 1,413,213. The company has a market capitalization of $162.58 million, a PE ratio of -29.25 and a beta of -0.79. The company has a current ratio of 1.47, a quick ratio of 1.21 and a debt-to-equity ratio of 0.30. NeoVolta has a 52 week low of $1.80 and a 52 week high of $7.13. The company’s 50-day simple moving average is $3.88 and its two-hundred day simple moving average is $4.32.

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

Hedge Funds Weigh In On NeoVolta

Several large investors have recently bought and sold shares of NEOV. Qube Research & Technologies Ltd purchased a new position in NeoVolta during the 3rd quarter worth $48,000. Millennium Management LLC bought a new position in shares of NeoVolta during the third quarter valued at about $53,000. Bank of America Corp DE lifted its position in shares of NeoVolta by 4,929.4% during the third 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 in the last quarter. Truist Financial Corp purchased a new position in NeoVolta during the fourth quarter worth about $129,000. Finally, MGO One Seven LLC purchased a new position in NeoVolta during the third quarter worth about $164,000. 5.11% of the stock is currently owned by institutional investors.

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.