Energy Vault (NYSE:NRGV) Price Target Lowered to $3.00 at Stifel Nicolaus

Energy Vault (NYSE:NRGV) had its target price dropped by equities research analysts at Stifel Nicolaus from $6.00 to $3.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 140.00% from the company’s previous close.

NRGV has been the topic of several other research reports. TD Cowen dropped their price objective on Energy Vault from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 13th. The Goldman Sachs Group dropped their price objective on Energy Vault from $1.70 to $1.50 and set a “sell” rating on the stock in a research note on Friday, March 22nd. Chardan Capital reissued a “sell” rating and issued a $0.75 price objective (down previously from $7.00) on shares of Energy Vault in a research note on Monday, April 8th. Roth Capital reissued a “buy” rating on shares of Energy Vault in a research note on Tuesday, January 16th. Finally, Roth Mkm began coverage on Energy Vault in a research report on Tuesday, January 16th. They set a “buy” rating and a $4.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $2.85.

Energy Vault Stock Performance

NRGV opened at $1.25 on Tuesday. The stock has a market cap of $183.85 million, a price-to-earnings ratio of -1.84 and a beta of 0.58. The stock’s 50 day moving average price is $1.57 and its 200-day moving average price is $1.91. Energy Vault has a one year low of $1.05 and a one year high of $3.55.

Energy Vault (NYSE:NRGV) last released its earnings results on Tuesday, March 12th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05). Energy Vault had a negative net margin of 28.82% and a negative return on equity of 40.42%. The business had revenue of $118.24 million for the quarter, compared to the consensus estimate of $122.05 million. As a group, analysts predict that Energy Vault will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Energy Vault

In other Energy Vault news, CMO Laurence Alexander sold 20,385 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $1.64, for a total transaction of $33,431.40. Following the sale, the chief marketing officer now owns 897,123 shares of the company’s stock, valued at approximately $1,471,281.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 77,966 shares of company stock valued at $124,984. 19.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Energy Vault

Hedge funds and other institutional investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale purchased a new stake in shares of Energy Vault during the 3rd quarter valued at $25,000. Bleakley Financial Group LLC purchased a new stake in shares of Energy Vault during the 4th quarter valued at $33,000. Simplicity Solutions LLC purchased a new stake in shares of Energy Vault during the 4th quarter valued at $33,000. First Citizens Bank & Trust Co. purchased a new stake in shares of Energy Vault during the 4th quarter valued at $37,000. Finally, Alpine Global Management LLC purchased a new stake in shares of Energy Vault during the 3rd quarter valued at $38,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

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.