NeoVolta, Inc. $NEOV Shares Acquired by Legacy Wealth Managment LLC ID

Legacy Wealth Managment LLC ID raised its stake in NeoVolta, Inc. (NASDAQ:NEOV) by 26.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,567,051 shares of the company’s stock after purchasing an additional 944,758 shares during the period. NeoVolta accounts for 7.8% of Legacy Wealth Managment LLC ID’s holdings, making the stock its 2nd biggest holding. Legacy Wealth Managment LLC ID owned 0.13% of NeoVolta worth $15,071,000 as of its most recent filing with the Securities and Exchange Commission.

Separately, BIP Wealth LLC raised its stake in NeoVolta by 3.2% during the 1st quarter. BIP Wealth LLC now owns 226,225 shares of the company’s stock worth $491,000 after buying an additional 7,119 shares during the period. Institutional investors own 5.11% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NEOV shares. Maxim Group restated a “hold” rating on shares of NeoVolta in a report on Wednesday, October 1st. Weiss Ratings restated a “sell (e+)” rating on shares of NeoVolta in a report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $7.50.

NeoVolta Stock Performance

NASDAQ NEOV opened at $4.24 on Friday. The company has a fifty day moving average price of $4.63 and a 200-day moving average price of $4.00. The firm has a market cap of $147.27 million, a price-to-earnings ratio of -28.26 and a beta of -0.87. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.90 and a quick ratio of 1.29. NeoVolta, Inc. has a 1 year low of $1.80 and a 1 year high of $6.19.

NeoVolta (NASDAQ:NEOV) last released its quarterly earnings results on Monday, September 29th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.04). NeoVolta had a negative return on equity of 144.53% and a negative net margin of 59.75%.The firm had revenue of $4.75 million for the quarter, compared to analysts’ expectations of $4.30 million.

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.