NeoVolta (NASDAQ:NEOV) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen downgraded shares of NeoVolta (NASDAQ:NEOV) from a hold rating to a strong sell rating in a research note published on Saturday.

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

NeoVolta Stock Down 3.5%

NEOV opened at $3.54 on Friday. The firm has a market cap of $150.73 million, a P/E ratio of -12.21 and a beta of -0.79. The business’s fifty day simple moving average is $3.89 and its 200 day simple moving average is $4.21. NeoVolta has a 52 week low of $1.80 and a 52 week high of $7.13. The company has a quick ratio of 1.60, a current ratio of 2.10 and a debt-to-equity ratio of 0.13.

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

Institutional Trading of NeoVolta

Large investors have recently added to or reduced their stakes in the business. Legacy Wealth Managment LLC ID lifted its stake in NeoVolta by 3.1% during 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 position in shares of NeoVolta by 11.5% in the 3rd 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 in the last quarter. Sovran Advisors LLC boosted its position in shares of NeoVolta by 97.1% in the fourth quarter. Sovran Advisors LLC now owns 457,687 shares of the company’s stock worth $1,391,000 after buying an additional 225,516 shares during the period. Geode Capital Management LLC raised its position in NeoVolta by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 329,747 shares of the company’s stock valued at $1,003,000 after buying an additional 9,385 shares during the period. Finally, 683 Capital Management LLC acquired a new stake in shares of NeoVolta during the fourth quarter worth approximately $589,000. 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.