Short Interest in NeoVolta Inc. (NASDAQ:NEOV) Grows By 30.3%

NeoVolta Inc. (NASDAQ:NEOV) saw a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 1,420,000 shares, an increase of 30.3% from the February 13th total of 1,090,000 shares. Currently, 5.0% of the company’s shares are sold short. Based on an average daily trading volume, of 288,800 shares, the short-interest ratio is currently 4.9 days.

NeoVolta Trading Up 4.6 %

NeoVolta stock traded up $0.11 during trading hours on Monday, hitting $2.50. The company had a trading volume of 54,564 shares, compared to its average volume of 202,361. The firm has a market cap of $83.54 million, a P/E ratio of -24.86 and a beta of -1.42. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.94 and a current ratio of 12.03. NeoVolta has a 1 year low of $0.75 and a 1 year high of $6.11. The company has a 50-day moving average price of $3.50 and a two-hundred day moving average price of $3.83.

NeoVolta (NASDAQ:NEOV) last announced its quarterly earnings results on Friday, February 7th. The company reported ($0.03) earnings per share for the quarter. NeoVolta had a negative return on equity of 76.86% and a negative net margin of 128.91%.

Institutional Investors Weigh In On NeoVolta

Several hedge funds have recently modified their holdings of NEOV. Legacy Investment Solutions LLC bought a new position in shares of NeoVolta during the 3rd quarter worth approximately $10,768,000. Sovran Advisors LLC bought a new position in shares of NeoVolta during the 4th quarter worth approximately $636,000. Rossby Financial LCC bought a new position in shares of NeoVolta during the 4th quarter worth approximately $425,000. Jane Street Group LLC bought a new position in shares of NeoVolta during the 4th quarter worth approximately $408,000. Finally, Bank of America Corp DE raised its stake in shares of NeoVolta by 15,380.2% during the 4th quarter. Bank of America Corp DE now owns 46,131 shares of the company’s stock worth $240,000 after acquiring an additional 45,833 shares in the last quarter. Hedge funds and other 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.