NeoVolta (NASDAQ:NEOV) Trading Down 3.9% – Should You Sell?

NeoVolta, Inc. (NASDAQ:NEOV) traded down 3.9% during mid-day trading on Tuesday . The company traded as low as $3.17 and last traded at $3.23. 222,445 shares were traded during mid-day trading, an increase of 16% from the average session volume of 192,113 shares. The stock had previously closed at $3.36.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NEOV. Maxim Group restated a “hold” rating on shares of NeoVolta in a research report on Wednesday, October 1st. Weiss Ratings reissued a “sell (e+)” rating on shares of NeoVolta in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, NeoVolta currently has an average rating of “Reduce”.

NeoVolta Trading Down 2.2%

The firm has a market cap of $109.78 million, a price-to-earnings ratio of -19.75 and a beta of -0.84. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.47 and a quick ratio of 1.21. The firm’s fifty day moving average is $4.07 and its 200-day moving average is $4.21.

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

Hedge Funds Weigh In On NeoVolta

Several institutional investors have recently added to or reduced their stakes in NEOV. Qube Research & Technologies Ltd acquired a new stake in shares of NeoVolta during the 3rd quarter worth approximately $48,000. Millennium Management LLC bought a new position in NeoVolta during the third quarter worth $53,000. Bank of America Corp DE boosted its stake in NeoVolta by 4,929.4% during the third quarter. Bank of America Corp DE now owns 14,736 shares of the company’s stock worth $66,000 after acquiring an additional 14,443 shares in the last quarter. MGO One Seven LLC acquired a new stake in NeoVolta in the third quarter worth $164,000. Finally, Vanguard Group Inc. increased its stake in NeoVolta by 11.5% in the third quarter. Vanguard Group Inc. now owns 458,988 shares of the company’s stock valued at $2,047,000 after purchasing an additional 47,521 shares in the last quarter. 5.11% of the stock is owned by institutional investors and hedge funds.

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.