NeoVolta Inc. (NASDAQ:NEOV) Sees Significant Drop in Short Interest

NeoVolta Inc. (NASDAQ:NEOV) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totalling 539,200 shares, a decline of 21.1% from the September 30th total of 683,300 shares. Based on an average daily volume of 125,100 shares, the short-interest ratio is presently 4.3 days. Approximately 1.9% of the company’s stock are short sold.

NeoVolta Stock Performance

Shares of NASDAQ:NEOV traded up $0.17 during trading on Tuesday, hitting $3.25. The company’s stock had a trading volume of 48,090 shares, compared to its average volume of 120,889. The company has a market capitalization of $108.06 million, a PE ratio of -43.99 and a beta of -2.03. The stock’s 50-day moving average price is $3.04 and its two-hundred day moving average price is $2.73. NeoVolta has a fifty-two week low of $0.63 and a fifty-two week high of $3.87.

NeoVolta (NASDAQ:NEOV) last posted its quarterly earnings data on Friday, September 27th. The company reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02). The firm had revenue of $0.58 million for the quarter. NeoVolta had a negative net margin of 87.11% and a negative return on equity of 42.81%.

Wall Street Analysts Forecast Growth

Separately, Maxim Group lifted their price target on shares of NeoVolta from $4.25 to $4.75 and gave the stock a “buy” rating in a research note on Tuesday, October 1st.

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.