The Goldman Sachs Group Cuts Energy Vault (NYSE:NRGV) Price Target to $0.75

Energy Vault (NYSE:NRGV) had its target price lowered by The Goldman Sachs Group from $1.00 to $0.75 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a sell rating on the stock.

Separately, TD Cowen cut their target price on shares of Energy Vault from $2.50 to $2.00 and set a “buy” rating for the company in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Energy Vault presently has a consensus rating of “Hold” and a consensus price target of $1.60.

Energy Vault Price Performance

Shares of Energy Vault stock opened at $0.95 on Wednesday. Energy Vault has a 1 year low of $0.78 and a 1 year high of $2.70. The firm’s 50-day moving average is $1.54 and its 200 day moving average is $1.56. The stock has a market cap of $145.12 million, a price-to-earnings ratio of -1.47 and a beta of 0.45.

Energy Vault (NYSE:NRGV) last issued its 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). Energy Vault had a negative net margin of 73.37% and a negative return on equity of 47.41%. The business had revenue of $38.95 million for the quarter, compared to analysts’ expectations of $42.51 million. On average, equities analysts expect that Energy Vault will post -0.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Energy Vault

A number of hedge funds have recently made changes to their positions in NRGV. Truist Financial Corp bought a new position in Energy Vault during the fourth quarter valued at $27,000. Virtu Financial LLC bought a new position in shares of Energy Vault during the fourth quarter valued at approximately $27,000. Atala Financial Inc bought a new stake in shares of Energy Vault in the 4th quarter valued at about $31,000. Shepherd Kaplan Krochuk LLC acquired a new position in Energy Vault during the 4th quarter valued at about $31,000. Finally, PFG Investments LLC purchased a new position in shares of Energy Vault in the fourth quarter worth $42,000. 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.