NeoVolta (NASDAQ:NEOV) Trading Down 4.7% – Time to Sell?

NeoVolta, Inc. (NASDAQ:NEOV)’s stock price traded down 4.7% during trading on Monday . The stock traded as low as $3.86 and last traded at $3.87. 111,597 shares were traded during trading, a decline of 65% from the average session volume of 322,954 shares. The stock had previously closed at $4.06.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Maxim Group reaffirmed a “hold” rating on shares of NeoVolta in a research note on Wednesday, October 1st. Weiss Ratings restated a “sell (e+)” rating on shares of NeoVolta in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, NeoVolta has an average rating of “Reduce”.

NeoVolta Price Performance

The firm has a 50-day moving average of $4.61 and a 200 day moving average of $4.17. The company has a market capitalization of $134.44 million, a PE ratio of -24.19 and a beta of -0.84. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.47 and a quick ratio of 1.21.

NeoVolta (NASDAQ:NEOV) last issued its earnings results on Monday, November 10th. The company reported ($0.04) earnings per share for the quarter. The business had revenue of $6.65 million during the quarter. NeoVolta had a negative return on equity of 174.64% and a negative net margin of 36.67%.

Institutional Investors Weigh In On NeoVolta

Several institutional investors and hedge funds have recently added to or reduced their stakes in NEOV. Qube Research & Technologies Ltd bought a new stake in NeoVolta in the 3rd quarter worth approximately $48,000. Millennium Management LLC bought a new position in shares of NeoVolta during the 3rd quarter valued at $53,000. Bank of America Corp DE boosted 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 worth $66,000 after buying an additional 14,443 shares during the last quarter. MGO One Seven LLC bought a new stake in shares of NeoVolta in the third quarter worth $164,000. Finally, Sovran Advisors LLC increased its position in NeoVolta by 39.1% during the third quarter. Sovran Advisors LLC now owns 232,171 shares of the company’s stock valued at $1,035,000 after acquiring an additional 65,250 shares during the last quarter. Hedge funds and other institutional investors own 5.11% of the company’s stock.

About NeoVolta

NeoVolta Inc designs, manufactures, and sells energy storage systems in the United States. It provides NV14, NV14-K, and NV 24 energy storage systems, which stores and uses energy through batteries and an inverter at residential or commercial sites. The company markets and sells its products directly to certified solar installers and solar equipment distributors.