NeoVolta price target lowered to $5 from $8 at Maxim

Maxim analyst Tate Sullivan lowered the firm’s price target on NeoVolta to $5 from $8 but keeps a Buy rating on the shares. The company’s Q2 revenue saw a bigger than expected decline due to solar regulations in California delaying some orders, though the most recent net energy metering tariff in California, or "NEM 3.0", can lead to more homes installing NeoVolta’s battery storage systems at the same time as solar panels, the analyst tells investors in a research note.