TD Cowen Lowers Energy Vault (NYSE:NRGV) Price Target to $2.00

Energy Vault (NYSE:NRGV) had its price objective decreased by research analysts at TD Cowen from $2.50 to $2.00 in a research report issued on Tuesday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the stock. TD Cowen’s target price suggests a potential upside of 99.00% from the stock’s current price.

Energy Vault Stock Performance

NYSE:NRGV opened at $1.01 on Tuesday. Energy Vault has a one year low of $0.78 and a one year high of $2.70. The firm has a market cap of $152.88 million, a price-to-earnings ratio of -1.55 and a beta of 0.45. The firm’s fifty day moving average is $1.59 and its two-hundred day moving average is $1.56.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NRGV. Invesco Ltd. raised its position in shares of Energy Vault by 15,519.9% during the 4th quarter. Invesco Ltd. now owns 2,675,226 shares of the company’s stock worth $6,100,000 after purchasing an additional 2,658,099 shares during the last quarter. CastleKnight Management LP acquired a new position in shares of Energy Vault during the 4th quarter worth about $2,752,000. Millennium Management LLC raised its position in shares of Energy Vault by 122.5% during the 4th quarter. Millennium Management LLC now owns 1,442,399 shares of the company’s stock worth $3,289,000 after purchasing an additional 794,253 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Energy Vault by 44.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 889,493 shares of the company’s stock worth $2,028,000 after purchasing an additional 272,465 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Energy Vault during the 4th quarter worth about $598,000. Institutional investors and hedge funds 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.