NeoVolta, Inc. (NASDAQ:NEOV) Stock Has Average Target Price of $9.50

Shares of NeoVolta, Inc. (NASDAQ:NEOV) have been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $9.50.

NEOV has been the subject of a number of recent research reports. UBS Group reaffirmed a “buy” rating on shares of NeoVolta in a research report on Tuesday, September 1st. Lake Street Capital started coverage on shares of NeoVolta in a research report on Friday, June 26th. They issued a “buy” rating and a $11.00 target price for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of NeoVolta in a research report on Tuesday, September 22nd. Needham & Company LLC restated a “buy” rating and issued a $8.00 price objective on shares of NeoVolta in a report on Thursday, September 24th. Finally, Northland Securities initiated coverage on NeoVolta in a report on Wednesday, July 29th. They set an “outperform” rating on the stock.

NeoVolta Trading Down 3.7%

Shares of NASDAQ NEOV opened at $2.85 on Friday. The company has a fifty day moving average price of $3.18 and a 200 day moving average price of $2.82. The firm has a market cap of $168.19 million, a PE ratio of -5.48 and a beta of -0.77. NeoVolta has a 1-year low of $1.36 and a 1-year high of $7.13.

NeoVolta (NASDAQ:NEOV) last issued its quarterly earnings results on Wednesday, September 23rd. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.15). The firm had revenue of $0.01 million during the quarter, compared to the consensus estimate of $1.27 million. NeoVolta had a negative net margin of 161.10% and a negative return on equity of 124.51%. Equities research analysts forecast that NeoVolta will post -0.43 EPS for the current year.

Hedge Funds Weigh In On NeoVolta

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE increased its stake 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 worth $118,000 after purchasing an additional 38,158 shares during the period. BIP Wealth LLC acquired a new stake in NeoVolta in the 2nd quarter worth about $675,000. BlackRock Inc. bought a new stake in NeoVolta in the 2nd quarter valued at about $1,633,000. Alyeska Investment Group L.P. acquired a new position in shares of NeoVolta during the 2nd quarter worth approximately $4,882,000. Finally, AWM Investment Company Inc. bought a new position in shares of NeoVolta during the second quarter worth approximately $5,184,000. 5.11% of the stock is owned by institutional investors.

NeoVolta Company Profile

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.