Energy Vault (NYSE:NRGV) Price Target Cut to $0.75 by Analysts at The Goldman Sachs Group

Energy Vault (NYSE:NRGV) had its price objective dropped by equities research analysts at The Goldman Sachs Group from $1.00 to $0.75 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “sell” rating on the stock. The Goldman Sachs Group’s price target suggests a potential downside of 16.39% from the company’s current price.

Separately, TD Cowen lowered their price target on shares of Energy Vault from $2.50 to $2.00 and set a “buy” rating for the company in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Energy Vault currently has a consensus rating of “Hold” and an average target price of $1.70.

Energy Vault Stock Performance

Energy Vault stock traded down $0.00 during trading hours on Wednesday, hitting $0.90. The company had a trading volume of 178,348 shares, compared to its average volume of 1,028,881. The firm has a market cap of $136.45 million, a P/E ratio of -1.38 and a beta of 0.45. Energy Vault has a 1 year low of $0.78 and a 1 year high of $2.70. The company has a 50-day moving average price of $1.61 and a two-hundred day moving average price of $1.56.

Energy Vault (NYSE:NRGV) last released its quarterly earnings data on Monday, March 17th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.21). Energy Vault had a negative net margin of 73.37% and a negative return on equity of 47.41%. The company had revenue of $38.95 million during the quarter, compared to analysts’ expectations of $42.51 million. As a group, equities research analysts anticipate that Energy Vault will post -0.64 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Invesco Ltd. increased its stake in Energy Vault by 15,519.9% during the 4th quarter. Invesco Ltd. now owns 2,675,226 shares of the company’s stock valued at $6,100,000 after purchasing an additional 2,658,099 shares in the last quarter. Geode Capital Management LLC increased its stake in Energy Vault by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 2,322,871 shares of the company’s stock valued at $5,297,000 after purchasing an additional 49,829 shares in the last quarter. State Street Corp increased its stake in Energy Vault by 1.1% during the 3rd quarter. State Street Corp now owns 1,850,702 shares of the company’s stock valued at $1,777,000 after purchasing an additional 20,915 shares in the last quarter. Millennium Management LLC increased its stake in Energy Vault by 122.5% during the 4th quarter. Millennium Management LLC now owns 1,442,399 shares of the company’s stock valued at $3,289,000 after purchasing an additional 794,253 shares in the last quarter. Finally, CastleKnight Management LP acquired a new position in Energy Vault during the 4th quarter valued at approximately $2,752,000. Institutional investors own 40.03% of the company’s stock.

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.