NEOV Similar Chart Price Prediction
The price of NEOV is predicted to go up 27.43%, based on the high correlation periods with AVDX. The similarity of these two price pattern on the periods is 97.32%.
NEOV
AVDX
Up: 27.43%Similarity: 97.32%
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NEOV Analyst's Forecast
Tate Sullivan
Maxim Group
Strong Buy
2024-11-13
Price Target
$4.75 → $7.5
Upside
+46.77%
Maxim raised the firm's price target on NeoVolta (NEOV) to $7.50 from $4.75 and keeps a Buy rating on the shares. The company reported mixed Q1 results, including revenue below forecasts, a higher gross profit margin and an in-line EBITDA loss, the analyst tells investors in a research note. NeoVolta is preparing to deliver larger orders based on Q1 results and previous contract announcements, specifically for a U.S. Department of Energy program in Puerto Rico, Maxim added, also noting that the growth in Tesla's (TSLA) Powerwall energy storage system business suggests more opportunities for NeoVolta's competing ESS product.
