Needham Initiates Coverage on NeoVolta with Buy Rating
NeoVolta (NASDAQ:NEOV) shares surged over 20% after Needham initiated coverage with a 'Buy' rating and an $8.00 price target, implying more than 300% upside from the previous close of $1.71. The analyst highlighted Pendergrass, NeoVolta's Georgia-based joint venture, as its primary growth driver.