Energy Vault (NYSE:NRGV) Announces Earnings Results, Misses Estimates By $0.03 EPS

Energy Vault (NYSE:NRGV) released its earnings results on Tuesday. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.03), Zacks reports. The business had revenue of $1.20 million during the quarter, compared to analysts’ expectations of $4.80 million. Energy Vault had a negative return on equity of 47.41% and a negative net margin of 73.37%. During the same quarter in the previous year, the business earned ($0.13) EPS.

Energy Vault Stock Performance

NRGV traded down $0.10 on Friday, hitting $1.56. The company had a trading volume of 470,951 shares, compared to its average volume of 839,423. Energy Vault has a 12-month low of $0.78 and a 12-month high of $2.69. The stock has a market capitalization of $234.73 million, a price-to-earnings ratio of -2.38 and a beta of 0.45. The stock has a fifty day moving average price of $1.32 and a 200-day moving average price of $1.18.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Roth Mkm lowered their price objective on shares of Energy Vault from $2.50 to $2.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. TD Cowen restated a “buy” rating and set a $2.50 price target on shares of Energy Vault in a research note on Wednesday. Two analysts have rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $1.95.

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.