Energy Vault Holdings, Inc. (NYSE:NRGV) Receives $2.65 Consensus Price Target from Analysts

Energy Vault Holdings, Inc. (NYSE:NRGV) has been assigned an average recommendation of “Hold” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $2.25.

Several research firms recently issued reports on NRGV. TD Cowen cut their price target on shares of Energy Vault from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Monday, May 13th. Stifel Nicolaus cut their price target on shares of Energy Vault from $6.00 to $3.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Finally, Roth Mkm cut their price target on shares of Energy Vault from $2.50 to $2.00 and set a “buy” rating on the stock in a report on Thursday, August 8th.

Insider Buying and Selling at Energy Vault

In other Energy Vault news, CMO Laurence Alexander sold 22,316 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $1.16, for a total transaction of $25,886.56. Following the completion of the sale, the chief marketing officer now owns 1,219,657 shares in the company, valued at $1,414,802.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 63,804 shares of company stock worth $73,319 over the last 90 days. Insiders own 19.80% of the company’s stock.

Hedge Funds Weigh In On Energy Vault

Several institutional investors have recently modified their holdings of the company. Bleakley Financial Group LLC bought a new position in Energy Vault in the 4th quarter valued at about $33,000. Simplicity Solutions LLC bought a new position in Energy Vault in the 4th quarter valued at about $33,000. Mesirow Financial Investment Management Inc. grew its position in Energy Vault by 33.3% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 80,000 shares of the company’s stock valued at $76,000 after buying an additional 20,000 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Energy Vault in the 1st quarter valued at about $91,000. Finally, SG Americas Securities LLC grew its position in Energy Vault by 28.5% in the 4th quarter. SG Americas Securities LLC now owns 54,009 shares of the company’s stock valued at $126,000 after buying an additional 11,992 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Energy Vault Stock Up 1.5 %

NRGV opened at $0.83 on Thursday. Energy Vault has a 52-week low of $0.80 and a 52-week high of $3.38. The company has a 50 day moving average of $1.07 and a two-hundred day moving average of $1.35. The company has a market cap of $123.89 million, a P/E ratio of -1.39 and a beta of 0.65.

Energy Vault (NYSE:NRGV) last posted its earnings results on Tuesday, August 6th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.07). Energy Vault had a negative return on equity of 38.36% and a negative net margin of 26.17%. The firm had revenue of $3.77 million for the quarter, compared to analyst estimates of $16.65 million. During the same period in the previous year, the firm posted ($0.18) earnings per share. Research analysts anticipate that Energy Vault will post -0.5 earnings per share for the current year.

Energy Vault Company Profile

Energy Vault Holdings, Inc develops and sells energy storage solutions. The company offers B-Vault, an electrochemical battery energy storage systems for shorter-duration energy storage needs; G-Vault, a proprietary gravity energy storage solution, including EVx solution; and H-Vault, a hybrid energy storage systems including systems that integrate green hydrogen.