Brokerages Set Energy Vault Holdings, Inc. (NYSE:NRGV) PT at $2.65

Shares of Energy Vault Holdings, Inc. (NYSE:NRGVGet Free Report) have earned an average rating of “Hold” from the six analysts that are covering the firm, 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 12-month target price among brokerages that have issued ratings on the stock in the last year is $2.65.

Several research analysts recently commented on NRGV shares. The Goldman Sachs Group lowered their target price on Energy Vault from $1.70 to $1.50 and set a “sell” rating for the company in a research note on Friday, March 22nd. Stifel Nicolaus lowered their price objective on Energy Vault from $6.00 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Chardan Capital reaffirmed a “sell” rating and set a $0.75 price objective (down from $7.00) on shares of Energy Vault in a research report on Monday, April 8th. Finally, TD Cowen lowered their price objective on Energy Vault from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Monday, May 13th.

Read Our Latest Report on NRGV

Energy Vault Price Performance

NRGV opened at $0.97 on Wednesday. Energy Vault has a 12 month low of $0.93 and a 12 month high of $3.55. The stock has a market capitalization of $144.00 million, a price-to-earnings ratio of -1.61 and a beta of 0.72. The business has a fifty day moving average price of $1.20 and a 200 day moving average price of $1.61.

Energy Vault (NYSE:NRGVGet Free Report) last released its earnings results on Wednesday, May 8th. The company reported ($0.14) EPS for the quarter, hitting the consensus estimate of ($0.14). Energy Vault had a negative return on equity of 38.36% and a negative net margin of 26.17%. The firm had revenue of $7.76 million during the quarter, compared to analysts’ expectations of $11.35 million. On average, research analysts anticipate that Energy Vault will post -0.5 earnings per share for the current year.

Insider Activity

In other news, CMO Laurence Alexander sold 22,316 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $1.16, for a total value of $25,886.56. Following the completion of the sale, the chief marketing officer now directly owns 1,219,657 shares of the company’s stock, valued at approximately $1,414,802.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 80,665 shares of company stock valued at $95,114. Insiders own 19.80% of the company’s stock.

Institutional Trading of Energy Vault

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC raised its stake in Energy Vault by 28.5% during 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 purchased a new position in shares of Energy Vault during the 4th quarter worth approximately $33,000. Alpine Global Management LLC purchased a new position in shares of Energy Vault during the 3rd quarter worth approximately $38,000. Finally, CenterBook Partners LP acquired a new stake in shares of Energy Vault in the 4th quarter worth approximately $260,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

About Energy Vault

(Get Free Report

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.

Featured Stories

Analyst Recommendations for Energy Vault (NYSE:NRGV)

Receive News & Ratings for Energy Vault Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Energy Vault and related companies with MarketBeat.com's FREE daily email newsletter.