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

NeoVolta Inc. (NASDAQ:NEOV) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 1,420,000 shares, a growth of 30.3% from the February 13th total of 1,090,000 shares. Based on an average daily volume of 288,800 shares, the days-to-cover ratio is presently 4.9 days. Approximately 5.0% of the shares of the company are short sold.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Beacon Capital Management LLC acquired a new stake in NeoVolta during the fourth quarter valued at $26,000. Barclays PLC acquired a new stake in NeoVolta during the third quarter valued at $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in NeoVolta during the fourth quarter valued at $47,000. Balyasny Asset Management L.P. acquired a new stake in NeoVolta during the fourth quarter valued at $90,000. Finally, Marshall Wace LLP acquired a new stake in NeoVolta during the fourth quarter valued at $167,000. Hedge funds and other institutional investors own 5.11% of the company’s stock.

NeoVolta Stock Performance

Shares of NASDAQ:NEOV traded up $0.11 during midday trading on Monday, reaching $2.50. The company’s stock had a trading volume of 54,564 shares, compared to its average volume of 202,361. The company has a quick ratio of 5.94, a current ratio of 12.03 and a debt-to-equity ratio of 0.12. The stock has a fifty day moving average of $3.50 and a 200 day moving average of $3.83. NeoVolta has a twelve month low of $0.75 and a twelve month high of $6.11. The firm has a market capitalization of $83.54 million, a PE ratio of -24.86 and a beta of -1.42.

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

NeoVolta Company Profile

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.