NeoVolta (NASDAQ:NEOV) Stock Price Breaks Above 50 Day Moving Average – Time to Sell?

NeoVolta, Inc. (NASDAQ:NEOV)’s stock price passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $2.81 and traded as high as $2.98. NeoVolta shares last traded at $2.86, with a volume of 1,794,975 shares changing hands.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Weiss Ratings upgraded NeoVolta from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, October 6th. Northland Securities assumed 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 report on Tuesday, September 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $8.00 price objective on shares of NeoVolta in a report on Thursday, September 24th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $9.50.

NeoVolta Trading Down 1.3%

The firm has a fifty day simple moving average of $2.77 and a 200-day simple moving average of $2.94. The stock has a market cap of $173.16 million, a price-to-earnings ratio of -5.63 and a beta of -0.71.

NeoVolta (NASDAQ:NEOV) last released its earnings results on Wednesday, September 23rd. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.15). The firm had revenue of $0.01 million during the quarter, compared to analyst estimates of $1.27 million. NeoVolta had a negative net margin of 161.10% and a negative return on equity of 124.51%. On average, equities analysts predict that NeoVolta, Inc. will post -0.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other NeoVolta news, Director John Hass bought 25,000 shares of the business’s stock in a transaction on Wednesday, September 30th. The shares were bought at an average cost of $2.61 per share, for a total transaction of $65,250.00. Following the transaction, the director owned 126,190 shares in the company, valued at approximately $329,355.90. This trade represents a 24.71% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On NeoVolta

Institutional investors and hedge funds have recently modified their holdings of the business. Alyeska Investment Group L.P. acquired a new position in NeoVolta in the second quarter valued at approximately $4,882,000. BlackRock Inc. bought a new position in NeoVolta in the second quarter valued at approximately $1,633,000. AWM Investment Company Inc. acquired a new stake in NeoVolta during the 2nd quarter worth $5,184,000. BIP Wealth LLC acquired a new stake in NeoVolta during the 2nd quarter worth $675,000. Finally, Bank of America Corp DE grew its holdings in NeoVolta by 131,579.3% during the 1st quarter. Bank of America Corp DE now owns 38,187 shares of the company’s stock worth $118,000 after acquiring an additional 38,158 shares during the period. 5.11% of the stock is owned by institutional investors.

NeoVolta Company Profile

NeoVolta, Inc. is a clean-energy technology company that develops and supplies battery-based energy storage systems. Its products are designed to store electricity generated by solar panels or drawn from the electric grid, helping residential customers use more of their own solar power, manage electricity consumption and maintain backup power during outages. The company’s product portfolio includes modular residential energy storage systems, battery units and related power-management equipment. NeoVolta’s systems are intended to be installed alongside new or existing solar photovoltaic systems and can be expanded to provide additional storage capacity as a customer’s energy needs change.