Maxim Group Issues Positive Forecast for NeoVolta (NASDAQ:NEOV) Stock Price

NeoVolta (NASDAQ:NEOV) had its price objective hoisted by Maxim Group from $4.75 to $7.50 in a research report report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

NeoVolta Trading Up 3.7 %

Shares of NASDAQ NEOV opened at $5.39 on Wednesday. The stock has a fifty day moving average price of $3.42 and a 200 day moving average price of $2.94. NeoVolta has a 12-month low of $0.63 and a 12-month high of $6.11.

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

Hedge Funds Weigh In On NeoVolta

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEOV. Centennial Wealth Advisory LLC acquired a new position in shares of NeoVolta in the third quarter worth about $31,000. Barclays PLC purchased a new stake in NeoVolta during the 3rd quarter worth approximately $35,000. Geode Capital Management LLC raised its position in shares of NeoVolta by 5.3% in the 3rd quarter. Geode Capital Management LLC now owns 306,324 shares of the company’s stock valued at $947,000 after purchasing an additional 15,427 shares in the last quarter. Finally, Legacy Investment Solutions LLC purchased a new position in shares of NeoVolta during the 3rd quarter valued at approximately $10,768,000. 5.11% of the stock is owned by hedge funds and other institutional investors.

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.