NeoVolta (NASDAQ:NEOV) Price Target Raised to $7.50

NeoVolta (NASDAQ:NEOV) had its price objective lifted by Maxim Group from $4.75 to $7.50 in a report issued on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

NeoVolta Stock Up 3.7 %

NEOV opened at $5.39 on Wednesday. NeoVolta has a 12-month low of $0.63 and a 12-month high of $6.11. The stock has a fifty day moving average of $3.42 and a 200-day moving average of $2.93. The firm has a market capitalization of $179.82 million, a P/E ratio of -59.89 and a beta of -1.99.

NeoVolta (NASDAQ:NEOV) last released its earnings results on Friday, November 8th. The company reported ($0.03) earnings per share (EPS) for the quarter. The firm had revenue of $0.59 million for the quarter. NeoVolta had a negative return on equity of 58.84% and a negative net margin of 114.93%.

Institutional Investors Weigh In On NeoVolta

A number of institutional investors and hedge funds have recently made changes to their positions in NEOV. Centennial Wealth Advisory LLC bought a new stake in shares of NeoVolta in the 3rd quarter valued at about $31,000. Geode Capital Management LLC boosted its stake in shares of NeoVolta by 5.3% during the 3rd quarter. Geode Capital Management LLC now owns 306,324 shares of the company’s stock worth $947,000 after acquiring an additional 15,427 shares during the period. Barclays PLC bought a new stake in NeoVolta in the 3rd quarter valued at $35,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of NeoVolta in the third quarter valued at $10,768,000. 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.