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

NeoVolta, Inc. (NASDAQ:NEOV) EVP Steve Bond purchased 47,000 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were bought at an average cost of $2.09 per share, for a total transaction of $98,230.00. Following the completion of the transaction, the executive vice president directly owned 797,000 shares in the company, valued at $1,665,730. This trade represents a 6.27% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

NeoVolta Stock Up 11.9%

NASDAQ:NEOV opened at $2.26 on Thursday. NeoVolta, Inc. has a 52 week low of $1.36 and a 52 week high of $7.13. The stock has a market capitalization of $96.52 million, a PE ratio of -6.85 and a beta of -0.81. The stock’s 50-day moving average price is $3.12 and its 200-day moving average price is $3.65.

NeoVolta (NASDAQ:NEOV) last posted its earnings results on Thursday, May 14th. The company reported ($0.08) EPS for the quarter, beating 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 firm had revenue of $2.02 million for the quarter, compared to analysts’ expectations of $3.41 million. Sell-side analysts expect that NeoVolta, Inc. will post -0.38 earnings per share for the current fiscal year.

Institutional Trading of NeoVolta

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE increased its holdings in shares of 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 buying an additional 38,158 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of NeoVolta during the 4th quarter worth approximately $49,000. 683 Capital Management LLC acquired a new stake in shares of NeoVolta during the 4th quarter worth approximately $589,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of NeoVolta during the 4th quarter worth approximately $230,000. Finally, State Street Corp increased its holdings in NeoVolta by 8.5% in the 4th quarter. State Street Corp now owns 135,964 shares of the company’s stock valued at $413,000 after purchasing an additional 10,700 shares during the last quarter. Institutional investors and hedge funds own 5.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NEOV shares. Wall Street Zen lowered shares of NeoVolta from a “hold” rating to a “strong sell” rating in a research note on Saturday, February 21st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NeoVolta in a research note on Thursday, January 22nd. Finally, Zacks Research raised shares of NeoVolta to a “hold” rating in a research note on Tuesday, April 21st. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

NeoVolta Company Profile

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.