NeoVolta (NASDAQ:NEOV) Issues Quarterly Earnings Results

NeoVolta (NASDAQ:NEOV) released its earnings results on Monday. The company reported ($0.01) earnings per share (EPS) for the quarter, reports. NeoVolta had a negative return on equity of 34.96% and a negative net margin of 88.40%. The company had revenue of $0.76 million during the quarter.

NeoVolta Trading Down 3.3 %

NEOV opened at $2.05 on Wednesday. NeoVolta has a 1 year low of $1.11 and a 1 year high of $4.40. The stock has a fifty day moving average price of $2.40 and a 200 day moving average price of $2.67. The stock has a market cap of $68.14 million, a price-to-earnings ratio of -29.28 and a beta of -1.02.

Institutional Investors Weigh In On NeoVolta

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in NeoVolta by 43.5% in the second quarter. BlackRock Inc. now owns 420,806 shares of the company’s stock worth $1,378,000 after buying an additional 127,646 shares during the last quarter. Vanguard Group Inc. acquired a new position in shares of NeoVolta during the 3rd quarter worth $1,837,000. Geode Capital Management LLC raised its holdings in shares of NeoVolta by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 261,862 shares of the company’s stock valued at $858,000 after purchasing an additional 3,911 shares in the last quarter. BIP Wealth LLC acquired a new stake in shares of NeoVolta in the 3rd quarter valued at $499,000. Finally, State Street Corp boosted its holdings in NeoVolta by 741.7% in the second quarter. State Street Corp now owns 143,214 shares of the company’s stock worth $469,000 after purchasing an additional 126,200 shares in the last quarter. 4.25% of the stock is owned by hedge funds and other institutional investors.

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.