NeoVolta (NASDAQ:NEOV) Rating Lowered to “Strong Sell” at Wall Street Zen

NeoVolta (NASDAQ:NEOV) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reiterated 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 company’s stock. According to data from MarketBeat.com, NeoVolta presently has an average rating of “Reduce”.

NeoVolta Stock Performance

NEOV opened at $3.67 on Friday. The company has a quick ratio of 1.21, a current ratio of 2.10 and a debt-to-equity ratio of 0.13. NeoVolta has a 12-month low of $1.80 and a 12-month high of $7.13. The business has a 50 day moving average of $3.89 and a 200-day moving average of $4.24. The stock has a market cap of $156.27 million, a price-to-earnings ratio of -12.66 and a beta of -0.78.

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

Institutional Trading of NeoVolta

Institutional investors have recently added to or reduced their stakes in the company. 683 Capital Management LLC acquired a new position in NeoVolta in the 4th quarter valued at $589,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of NeoVolta during the fourth quarter worth $230,000. State Street Corp boosted its position in shares of NeoVolta by 8.5% in the fourth quarter. State Street Corp now owns 135,964 shares of the company’s stock valued at $413,000 after acquiring an additional 10,700 shares during the period. Geode Capital Management LLC grew its stake in shares of NeoVolta by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 329,747 shares of the company’s stock valued at $1,003,000 after acquiring an additional 9,385 shares in the last quarter. Finally, Legacy Wealth Managment LLC ID grew its stake in shares of NeoVolta by 3.1% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 5,669,083 shares of the company’s stock valued at $17,234,000 after acquiring an additional 169,822 shares in the last quarter. 5.11% of the stock is currently owned by institutional investors.

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.