Energy Vault Holdings, Inc. (NYSE:NRGV) Receives $2.25 Consensus Target Price from Analysts

Shares of Energy Vault Holdings, Inc. (NYSE:NRGV) have been assigned an average recommendation of “Hold” from the six analysts that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $2.25.

Separately, Roth Mkm lowered their price target on shares of Energy Vault from $2.50 to $2.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th.

Hedge Funds Weigh In On Energy Vault

Institutional investors have recently added to or reduced their stakes in the company. CenterBook Partners LP bought a new position in shares of Energy Vault during the fourth quarter worth approximately $260,000. Mesirow Financial Investment Management Inc. bought a new position in Energy Vault during the 1st quarter worth $107,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Energy Vault by 17.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 242,541 shares of the company’s stock worth $434,000 after buying an additional 35,935 shares during the period. Vanguard Group Inc. raised its position in shares of Energy Vault by 2.7% during the first quarter. Vanguard Group Inc. now owns 1,675,361 shares of the company’s stock worth $2,999,000 after acquiring an additional 43,764 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Energy Vault in the first quarter worth approximately $91,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Energy Vault Price Performance

NRGV stock opened at $0.95 on Friday. The business has a 50-day moving average of $0.97 and a 200-day moving average of $1.16. Energy Vault has a fifty-two week low of $0.78 and a fifty-two week high of $3.22. The stock has a market capitalization of $141.41 million, a P/E ratio of -1.58 and a beta of 0.66.

Energy Vault (NYSE:NRGV) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.07). The business had revenue of $3.77 million for the quarter, compared to the consensus estimate of $16.65 million. Energy Vault had a negative return on equity of 40.67% and a negative net margin of 29.29%. During the same period in the prior year, the business earned ($0.18) earnings per share. Equities analysts expect that Energy Vault will post -0.6 EPS for the current year.

About Energy Vault

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.