Short Interest in NeoVolta, Inc. (NASDAQ:NEOV) Expands By 34.1%
by Doug Wharley · The Cerbat GemNeoVolta, Inc. (NASDAQ:NEOV – Get Free Report) saw a significant growth in short interest in March. As of March 31st, there was short interest totaling 3,459,120 shares, a growth of 34.1% from the March 15th total of 2,578,585 shares. Approximately 8.4% of the company’s stock are short sold. Based on an average trading volume of 725,731 shares, the short-interest ratio is presently 4.8 days.
NeoVolta Stock Performance
Shares of NASDAQ NEOV traded down $0.26 during trading hours on Thursday, hitting $3.03. 494,518 shares of the stock were exchanged, compared to its average volume of 513,930. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.10 and a quick ratio of 1.60. The company’s 50 day moving average is $3.52 and its 200 day moving average is $3.98. The firm has a market capitalization of $129.41 million, a P/E ratio of -10.45 and a beta of -0.66. NeoVolta has a one year low of $1.88 and a one year high of $7.13.
NeoVolta (NASDAQ:NEOV – Get Free Report) last posted its quarterly earnings data on Friday, February 13th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.12). The firm had revenue of $4.65 million for the quarter, compared to the consensus estimate of $4.40 million. NeoVolta had a negative return on equity of 284.92% and a negative net margin of 54.71%.
Institutional Trading of NeoVolta
Several large investors have recently modified their holdings of NEOV. Qube Research & Technologies Ltd bought a new stake in shares of NeoVolta during the 3rd quarter worth $48,000. Virtu Financial LLC bought a new stake in shares of NeoVolta during the 4th quarter worth $49,000. Millennium Management LLC bought a new stake in shares of NeoVolta during the 3rd quarter worth $53,000. Bank of America Corp DE boosted its holdings in shares of NeoVolta by 4,929.4% during 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 period. Finally, Truist Financial Corp bought a new stake in shares of NeoVolta during the 4th quarter worth $129,000. 5.11% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have commented on NEOV shares. Weiss Ratings reissued a “sell (e+)” rating on shares of NeoVolta in a research report on Thursday, January 22nd. Wall Street Zen downgraded shares of NeoVolta from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 21st. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.
Read Our Latest Analysis on NEOV
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.