NeoVolta, Inc. (NASDAQ:NEOV) Short Interest Up 34.1% in March

NeoVolta, Inc. (NASDAQ:NEOV) saw a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 3,459,120 shares, an increase of 34.1% from the March 15th total of 2,578,585 shares. Based on an average trading volume of 725,731 shares, the short-interest ratio is currently 4.8 days. Approximately 8.4% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NEOV shares. Wall Street Zen cut shares of NeoVolta from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of NeoVolta in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Hedge Funds Weigh In On NeoVolta

Several large investors have recently made changes to their positions in the business. Qube Research & Technologies Ltd purchased a new position in NeoVolta during the 3rd quarter valued at approximately $48,000. Virtu Financial LLC bought a new stake in NeoVolta in the fourth quarter worth $49,000. Millennium Management LLC purchased a new stake in NeoVolta during the third quarter valued at $53,000. Bank of America Corp DE lifted its position 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 valued at $66,000 after purchasing an additional 14,443 shares during the last quarter. Finally, Truist Financial Corp bought a new position in NeoVolta during the fourth quarter valued at $129,000. 5.11% of the stock is currently owned by hedge funds and other institutional investors.

NeoVolta Stock Performance

NASDAQ NEOV traded up $0.04 during trading hours on Friday, hitting $3.07. 113,166 shares of the company’s stock traded hands, compared to its average volume of 806,424. The business’s fifty day moving average price is $3.52 and its two-hundred day moving average price is $3.98. The firm has a market capitalization of $131.12 million, a P/E ratio of -10.59 and a beta of -0.66. NeoVolta has a 52 week low of $1.88 and a 52 week high of $7.13. The company has a current ratio of 2.10, a quick ratio of 1.60 and a debt-to-equity ratio of 0.13.

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

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.