Steve Bond Acquires 47,000 Shares of NeoVolta (NASDAQ:NEOV) Stock

NeoVolta, Inc. (NASDAQ:NEOV) EVP Steve Bond purchased 47,000 shares of the stock in a transaction on Tuesday, May 19th. The shares were purchased at an average cost of $2.09 per share, with a total value of $98,230.00. Following the transaction, the executive vice president owned 797,000 shares in the company, valued at $1,665,730. This trade represents a 6.27% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

NeoVolta Price Performance

NEOV traded up $0.24 on Wednesday, reaching $2.26. 757,016 shares of the stock were exchanged, compared to its average volume of 791,515. The company’s 50-day moving average price is $3.15 and its 200 day moving average price is $3.66. NeoVolta, Inc. has a fifty-two week low of $1.36 and a fifty-two week high of $7.13. The firm has a market capitalization of $96.52 million, a PE ratio of -6.85 and a beta of -0.81.

NeoVolta (NASDAQ:NEOV) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.07. NeoVolta had a negative return on equity of 141.89% and a negative net margin of 63.35%.The company had revenue of $2.02 million during the quarter, compared to analysts’ expectations of $3.41 million. As a group, equities analysts forecast that NeoVolta, Inc. will post -0.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NeoVolta

Several institutional investors and hedge funds have recently modified their holdings of NEOV. MGO One Seven LLC acquired a new position in shares of NeoVolta in the 3rd quarter valued at about $164,000. Sovran Advisors LLC increased its stake in shares of NeoVolta by 39.1% in the 3rd quarter. Sovran Advisors LLC now owns 232,171 shares of the company’s stock valued at $1,035,000 after purchasing an additional 65,250 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of NeoVolta by 11.5% in the 3rd 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. Bank of America Corp DE increased its stake in shares of NeoVolta by 4,929.4% in the 3rd 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 in the last quarter. Finally, Millennium Management LLC purchased a new position in shares of NeoVolta in the 3rd quarter valued at about $53,000. Institutional investors and hedge funds own 5.11% of the company’s stock.

Wall Street Analyst Weigh In

NEOV has been the subject of a number of research reports. Zacks Research raised NeoVolta to a “hold” rating in a research report on Tuesday, April 21st. Wall Street Zen cut NeoVolta from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 21st. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of NeoVolta in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, NeoVolta presently has an average rating of “Reduce”.

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.