Sovran Advisors LLC Buys New Stake in NeoVolta Inc. (NASDAQ:NEOV)

Sovran Advisors LLC bought a new position in shares of NeoVolta Inc. (NASDAQ:NEOV) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 122,000 shares of the company’s stock, valued at approximately $636,000. Sovran Advisors LLC owned about 0.37% of NeoVolta at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Centennial Wealth Advisory LLC bought a new position in NeoVolta during the third quarter worth $31,000. Barclays PLC bought a new position in shares of NeoVolta during the 3rd quarter worth about $35,000. Geode Capital Management LLC increased its holdings in shares of NeoVolta by 5.3% during the 3rd quarter. Geode Capital Management LLC now owns 306,324 shares of the company’s stock worth $947,000 after purchasing an additional 15,427 shares during the period. Finally, Legacy Investment Solutions LLC acquired a new position in shares of NeoVolta during the third quarter valued at about $10,768,000. 5.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Maxim Group lifted their target price on NeoVolta from $4.75 to $7.50 and gave the stock a “buy” rating in a research report on Wednesday, November 13th.

NeoVolta Trading Up 2.3 %

NEOV opened at $3.10 on Wednesday. The stock’s 50 day simple moving average is $4.37 and its 200-day simple moving average is $3.77. The stock has a market cap of $103.42 million, a PE ratio of -34.44 and a beta of -1.44. NeoVolta Inc. has a 1 year low of $0.63 and a 1 year high of $6.11.

NeoVolta (NASDAQ:NEOV) last posted its quarterly earnings results on Friday, February 7th. The company reported ($0.03) earnings per share for the quarter. NeoVolta had a negative return on equity of 58.84% and a negative net margin of 114.93%.

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.