Energy Vault Holdings, Inc. (NYSE:NRGV) Receives Average Rating of “Hold” from Analysts

Shares of Energy Vault Holdings, Inc. (NYSE:NRGV) have been assigned a consensus recommendation of “Hold” from the six analysts that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $2.85.

NRGV has been the topic of several analyst reports. The Goldman Sachs Group lowered their target price 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 from $7.00) on shares of Energy Vault in a research note on Monday, April 8th. Roth Mkm started coverage on shares of Energy Vault in a research note on Tuesday, January 16th. They issued a “buy” rating and a $4.00 target price for the company. TD Cowen dropped their price target on shares of Energy Vault from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 13th. Finally, Roth Capital reissued a “buy” rating on shares of Energy Vault in a report on Tuesday, January 16th.

Insiders Place Their Bets

In other Energy Vault news, CMO Laurence Alexander sold 20,385 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $1.64, for a total transaction of $33,431.40. Following the transaction, the chief marketing officer now directly owns 897,123 shares in the company, valued at $1,471,281.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 77,966 shares of company stock worth $124,984. Corporate insiders own 19.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NRGV. SG Americas Securities LLC grew its stake 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 acquiring an additional 11,992 shares during the last quarter. Bleakley Financial Group LLC purchased a new position in shares of Energy Vault during the 4th quarter worth approximately $33,000. Simplicity Solutions LLC acquired a new position in shares of Energy Vault during the 4th quarter worth approximately $33,000. Alpine Global Management LLC acquired a new stake in Energy Vault during the 3rd quarter valued at $38,000. Finally, First Citizens Bank & Trust Co. purchased a new position in Energy Vault during the fourth quarter worth $37,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Energy Vault Price Performance

Shares of NYSE:NRGV opened at $1.27 on Tuesday. Energy Vault has a 1-year low of $1.05 and a 1-year high of $3.55. The stock has a market cap of $186.79 million, a P/E ratio of -1.87 and a beta of 0.71. The firm has a fifty day moving average price of $1.55 and a 200 day moving average price of $1.89.

Energy Vault (NYSE:NRGV) last announced its earnings results on Tuesday, March 12th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.05). Energy Vault had a negative return on equity of 40.42% and a negative net margin of 28.82%. The business had revenue of $118.24 million for the quarter, compared to analyst estimates of $122.05 million. Sell-side analysts expect that Energy Vault will post -0.41 EPS for the current fiscal 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.