Brokerages Set Energy Vault Holdings, Inc. (NYSE:NRGV) PT at $1.95

Shares of Energy Vault Holdings, Inc. (NYSE:NRGV) have earned an average recommendation of “Hold” from the six brokerages that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $1.95.

Separately, TD Cowen reiterated a “buy” rating and issued a $2.50 price objective on shares of Energy Vault in a research note on Wednesday, November 13th.

Energy Vault Stock Down 10.5 %

Shares of NRGV stock opened at $2.21 on Friday. The firm has a 50 day moving average of $1.91 and a two-hundred day moving average of $1.37. The stock has a market capitalization of $336.19 million, a PE ratio of -3.40 and a beta of 0.44. Energy Vault has a 52 week low of $0.78 and a 52 week high of $2.69.

Energy Vault (NYSE:NRGV) last released its earnings results on Tuesday, November 12th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.03). Energy Vault had a negative net margin of 73.37% and a negative return on equity of 47.41%. The company had revenue of $1.20 million during the quarter, compared to analysts’ expectations of $4.80 million. During the same quarter last year, the business posted ($0.13) earnings per share. Analysts expect that Energy Vault will post -0.64 EPS for the current fiscal year.

Insider Activity at Energy Vault

In related news, CEO Robert Piconi bought 150,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were purchased at an average cost of $1.57 per share, with a total value of $235,500.00. Following the transaction, the chief executive officer now directly owns 17,623,361 shares of the company’s stock, valued at approximately $27,668,676.77. This represents a 0.86 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 19.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Energy Vault

A number of institutional investors and hedge funds have recently bought and sold shares of NRGV. State Street Corp grew its holdings in shares of Energy Vault by 1.1% during the third quarter. State Street Corp now owns 1,850,702 shares of the company’s stock worth $1,777,000 after purchasing an additional 20,915 shares during the last quarter. Barclays PLC grew its stake in Energy Vault by 225.2% during the 3rd quarter. Barclays PLC now owns 143,759 shares of the company’s stock worth $137,000 after buying an additional 99,550 shares during the last quarter. Geode Capital Management LLC increased its position in Energy Vault by 8.5% during the third quarter. Geode Capital Management LLC now owns 2,273,042 shares of the company’s stock worth $2,182,000 after buying an additional 177,214 shares during the period. XTX Topco Ltd lifted its stake in Energy Vault by 684.0% in the second quarter. XTX Topco Ltd now owns 173,016 shares of the company’s stock valued at $164,000 after buying an additional 150,948 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. boosted its holdings in shares of Energy Vault by 33.3% in the second quarter. Mesirow Financial Investment Management Inc. now owns 80,000 shares of the company’s stock valued at $76,000 after acquiring an additional 20,000 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

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.