NeoVolta (NASDAQ:NEOV) Announces Earnings Results

NeoVolta (NASDAQ:NEOV) announced its quarterly earnings results on Wednesday. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.15), Zacks reports. NeoVolta had a negative net margin of 63.35% and a negative return on equity of 141.89%.

NeoVolta Trading Down 5.7%

NASDAQ:NEOV traded down $0.19 during trading hours on Wednesday, hitting $3.17. The stock had a trading volume of 1,543,772 shares, compared to its average volume of 1,536,374. The company has a market cap of $179.45 million, a PE ratio of -9.61 and a beta of -0.87. The business has a 50 day simple moving average of $3.09 and a two-hundred day simple moving average of $2.89. NeoVolta has a 1-year low of $1.36 and a 1-year high of $7.13.

Wall Street Analyst Weigh In

NEOV has been the topic of a number of research analyst reports. UBS Group reiterated a “buy” rating on shares of NeoVolta in a report on Tuesday, September 1st. Lake Street Capital started coverage on NeoVolta in a report on Friday, June 26th. They issued a “buy” rating and a $11.00 price objective on the stock. Northland Securities began coverage on NeoVolta in a research note on Wednesday, July 29th. They issued an “outperform” rating on the stock. Needham & Company LLC reiterated a “buy” rating and set a $8.00 target price on shares of NeoVolta in a report on Tuesday, September 15th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of NeoVolta in a report on Friday, June 26th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.50.

NeoVolta Company Profile

NeoVolta, Inc develops and supplies energy storage systems for residential solar installations. Its products are designed to store electricity generated by rooftop solar panels and provide backup power during outages or periods when solar production is limited.

The company’s product portfolio includes modular battery-based systems such as the NV14 and related energy storage solutions. These systems are intended to help homeowners increase the use of self-generated solar power, improve energy resilience and manage household electricity consumption.

NeoVolta was founded in 2018 and is headquartered in San Diego, California.