Key Points
- NeoVolta EVP Steve Bond bought 47,000 shares on May 19 at an average price of $2.09, a transaction worth about $98,230. After the purchase, he owned 797,000 shares, increasing his stake by 6.27%.
- The stock was up 11.9% and opened at $2.26, though it still trades well below its 50-day and 200-day moving averages of $3.12 and $3.65, respectively.
- NeoVolta recently beat earnings expectations with EPS of -$0.08 versus the expected -$0.15, but revenue came in below estimates at $2.02 million, and analysts currently rate the stock an average of “Reduce.”
NeoVolta, Inc. (NASDAQ:NEOV - Get Free Report) EVP Steve Bond bought 47,000 shares of the company's stock in a transaction that occurred on Tuesday, May 19th. The stock was bought at an average price of $2.09 per share, with a total value of $98,230.00. Following the acquisition, the executive vice president directly owned 797,000 shares in the company, valued at $1,665,730. The trade was a 6.27% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.
NeoVolta Stock Up 11.9%
NASDAQ:NEOV opened at $2.26 on Thursday. The company has a fifty day simple moving average of $3.12 and a two-hundred day simple moving average of $3.65. The company has a market cap of $96.52 million, a price-to-earnings ratio of -6.85 and a beta of -0.81. NeoVolta, Inc. has a 52 week low of $1.36 and a 52 week high of $7.13.
NeoVolta (NASDAQ:NEOV - Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.07. The business had revenue of $2.02 million during the quarter, compared to the consensus estimate of $3.41 million. NeoVolta had a negative net margin of 63.35% and a negative return on equity of 141.89%. On average, analysts expect that NeoVolta, Inc. will post -0.38 EPS for the current year.
Institutional Investors Weigh In On NeoVolta
A number of institutional investors and hedge funds have recently bought and sold shares of NEOV. Qube Research & Technologies Ltd purchased a new stake in shares of NeoVolta in the third quarter valued at about $48,000. Millennium Management LLC purchased a new stake in shares of NeoVolta in the third quarter valued at about $53,000. Bank of America Corp DE raised its holdings in shares of NeoVolta by 4,929.4% in the third quarter. Bank of America Corp DE now owns 14,736 shares of the company's stock valued at $66,000 after buying an additional 14,443 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of NeoVolta in the fourth quarter valued at about $49,000. Finally, MGO One Seven LLC purchased a new stake in shares of NeoVolta in the third quarter valued at about $164,000. 5.11% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the stock. Wall Street Zen cut shares of NeoVolta from a "hold" rating to a "strong sell" rating in a research report on Saturday, February 21st. Zacks Research raised shares of NeoVolta to a "hold" rating in a research report on Tuesday, April 21st. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of NeoVolta in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Reduce".
View Our Latest Report on NeoVolta
NeoVolta Company Profile
(
Get Free Report)
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.
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