NeoVolta (NASDAQ:NEOV) Reports Earnings Results

NeoVolta (NASDAQ:NEOV) announced its earnings results on Friday. The company revealed its earnings per share (EPS) for the quarter, coming in at ($0.03), as reported by Zacks. This figure reflects a challenging financial period for NeoVolta, highlighted by a negative net margin of 114.93% and a concerning negative return on equity of 58.84%.

NeoVolta Stock Performance

During midday trading on Friday, shares of NEOV experienced a slight decrease of $0.02, trading at $3.26. The total volume of shares exchanged was 271,768, which is below the firm's average trading volume of 292,017. Currently, NeoVolta holds a market capitalization of $108.75 million, a price-to-earnings (P/E) ratio of -36.22, and a beta of -1.44. Over the past year, its stock has seen significant fluctuations, with a 52-week low of $0.63 and a high of $6.11. The company’s 50-day moving average stands at $4.48, while its 200-day moving average is at $3.75.

Analyst Upgrades and Downgrades

In recent developments, the Maxim Group raised NeoVolta's price target from $4.75 to $7.50 and assigned a "buy" rating to the company in a research note dated Wednesday, November 13th.

About NeoVolta

NeoVolta Inc specializes in the design, manufacturing, and sale of energy storage systems in the United States. Its product lineup includes NV14, NV14-K, and NV 24 energy storage systems, which are used for storing and utilizing energy through batteries and an inverter at both residential and commercial sites. NeoVolta markets its products directly to certified solar installers and solar equipment distributors.

NeoVolta, Earnings, Stocks