NeoVolta, Inc. (NASDAQ:NEOV) Short Interest Update

NeoVolta, Inc. (NASDAQ:NEOV) saw a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 2,221,696 shares, a growth of 26.5% from the December 31st total of 1,756,862 shares. Approximately 6.7% of the shares of the company are short sold. Based on an average daily trading volume, of 356,904 shares, the days-to-cover ratio is presently 6.2 days. Based on an average daily trading volume, of 356,904 shares, the days-to-cover ratio is presently 6.2 days. Approximately 6.7% of the shares of the company are short sold.

Institutional Trading of NeoVolta

Institutional investors have recently bought and sold shares of the business. Qube Research & Technologies Ltd acquired a new position in NeoVolta during the third quarter valued at approximately $48,000. Millennium Management LLC bought a new stake in shares of NeoVolta in the third quarter worth $53,000. Bank of America Corp DE boosted its stake 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 last quarter. MGO One Seven LLC acquired a new position in shares of NeoVolta during the 3rd quarter worth approximately $164,000. Finally, Truist Financial Corp acquired a new position in NeoVolta during the fourth quarter worth $129,000. Institutional investors and hedge funds own 5.11% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of NeoVolta in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, NeoVolta currently has a consensus rating of “Reduce”.

NeoVolta Stock Performance

Shares of NeoVolta stock traded down $0.60 during midday trading on Wednesday, hitting $4.09. The company had a trading volume of 428,455 shares, compared to its average volume of 1,324,501. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.47 and a quick ratio of 1.21. The stock has a market cap of $141.91 million, a PE ratio of -25.41 and a beta of -0.78. The business’s 50 day simple moving average is $3.90 and its two-hundred day simple moving average is $4.32. NeoVolta has a 1-year low of $1.80 and a 1-year high of $7.13.

NeoVolta (NASDAQ:NEOV) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.04) earnings per share for the quarter. NeoVolta had a negative return on equity of 174.64% and a negative net margin of 36.67%.The business had revenue of $6.65 million for the quarter.

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.