Key Points
- NeoVolta Director John Hass bought 25,000 shares at an average price of $2.61, investing $65,250 and increasing his direct ownership by 24.71% to 126,190 shares.
- NeoVolta reported a quarterly loss of $0.24 per share, missing the $0.09 consensus estimate, while revenue of $0.01 million fell well short of analysts’ $1.27 million expectation.
- Despite the weak results, analysts maintain a “Moderate Buy” consensus with an average price target of $9.50; institutional ownership remains limited at 5.11%.
NeoVolta, Inc. (NASDAQ:NEOV - Get Free Report) Director John Hass purchased 25,000 shares of the company's stock in a transaction that occurred on Wednesday, September 30th. The stock was acquired at an average cost of $2.61 per share, with a total value of $65,250.00. Following the purchase, the director directly owned 126,190 shares of the company's stock, valued at $329,355.90. This trade represents a 24.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
NeoVolta Stock Up 7.0%
NASDAQ:NEOV opened at $2.43 on Friday. The stock has a market cap of $143.40 million, a P/E ratio of -4.67 and a beta of -0.77. The firm's fifty day simple moving average is $3.20 and its 200 day simple moving average is $2.75. NeoVolta, Inc. has a twelve month low of $1.36 and a twelve month high of $7.13.
NeoVolta (NASDAQ:NEOV - Get Free Report) last issued its quarterly earnings data on Wednesday, September 23rd. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.15). NeoVolta had a negative net margin of 161.10% and a negative return on equity of 124.51%. The company had revenue of $0.01 million for the quarter, compared to analysts' expectations of $1.27 million. On average, analysts expect that NeoVolta, Inc. will post -0.43 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the company. Alyeska Investment Group L.P. bought a new position in shares of NeoVolta in the second quarter worth approximately $4,882,000. AWM Investment Company Inc. purchased a new stake in shares of NeoVolta during the second quarter valued at approximately $5,184,000. BlackRock Inc. bought a new stake in shares of NeoVolta during the second quarter valued at approximately $1,633,000. BIP Wealth LLC bought a new stake in shares of NeoVolta during the second quarter valued at approximately $675,000. Finally, Bank of America Corp DE increased its position in shares of NeoVolta by 131,579.3% during the first quarter. Bank of America Corp DE now owns 38,187 shares of the company's stock valued at $118,000 after acquiring an additional 38,158 shares in the last quarter. 5.11% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the stock. Northland Securities initiated coverage on shares of NeoVolta in a research report on Wednesday, July 29th. They set an "outperform" rating on the stock. UBS Group reissued a "buy" rating on shares of NeoVolta in a research note on Tuesday, September 1st. Weiss Ratings upgraded shares of NeoVolta from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, October 6th. Lake Street Capital assumed coverage on NeoVolta in a research report on Friday, June 26th. They set a "buy" rating and a $11.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $8.00 price objective on shares of NeoVolta in a research report on Thursday, September 24th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $9.50.
Get Our Latest Analysis on NeoVolta
NeoVolta Company Profile
(
Get Free Report)
NeoVolta, Inc is a U.S.-based energy technology company that develops, manufactures and sells battery energy storage systems for residential applications. Its systems are designed to store electricity generated by solar panels or drawn from the grid, helping homeowners maintain power during outages and manage energy consumption.
The company's product portfolio includes the NV14, NV24 and NV48 energy storage systems, which are intended to support whole-home or partial-home backup applications.
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