Analysts Set NeoVolta, Inc. (NASDAQ:NEOV) PT at $9.50

Shares of NeoVolta, Inc. (NASDAQ:NEOV) have received a consensus rating of “Hold” from the seven analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $9.50.

Several equities analysts recently commented on the company. UBS Group reissued a “buy” rating on shares of NeoVolta in a report on Tuesday, September 1st. Northland Securities began coverage on shares of NeoVolta in a report on Wednesday, July 29th. They issued an “outperform” rating on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $8.00 price objective on shares of NeoVolta in a research note on Tuesday. Weiss Ratings restated a “sell (e+)” rating on shares of NeoVolta in a research report on Friday, June 26th. Finally, Lake Street Capital started coverage on NeoVolta in a research note on Friday, June 26th. They set a “buy” rating and a $11.00 target price for the company.

NeoVolta Stock Down 7.6%

Shares of NASDAQ NEOV opened at $3.30 on Wednesday. The firm has a market cap of $186.81 million, a price-to-earnings ratio of -10.00 and a beta of -0.87. NeoVolta has a 52-week low of $1.36 and a 52-week high of $7.13. The business’s 50 day moving average is $2.98 and its two-hundred day moving average is $2.88.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NEOV. AWM Investment Company Inc. purchased a new position in shares of NeoVolta during the 2nd quarter worth $5,184,000. Alyeska Investment Group L.P. acquired a new position in shares of NeoVolta in the 2nd quarter valued at about $4,882,000. BlackRock Inc. acquired a new position in NeoVolta during the second quarter valued at approximately $1,633,000. BIP Wealth LLC acquired a new position in shares of NeoVolta during the 2nd quarter valued at $675,000. Finally, Truist Financial Corp purchased a new stake in shares of NeoVolta in the fourth quarter worth about $129,000. 5.11% of the stock is currently owned by institutional investors and hedge funds.

About NeoVolta

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.