Energy Vault Holdings, Inc. (NYSE:NRGV) Receives $2.25 Average Price Target from Analysts

Shares of Energy Vault Holdings, Inc. (NYSE:NRGV) have been assigned a consensus rating of “Hold” from the six research firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $2.25.

NRGV has been the topic of a number of research analyst reports. TD Cowen dropped their price target on Energy Vault from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Monday, May 13th. Roth Mkm dropped their target price on shares of Energy Vault from $2.50 to $2.00 and set a “buy” rating on the stock in a report on Thursday, August 8th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Energy Vault by 2.7% in the first quarter. Vanguard Group Inc. now owns 1,675,361 shares of the company’s stock valued at $2,999,000 after purchasing an additional 43,764 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Energy Vault by 17.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 242,541 shares of the company’s stock valued at $434,000 after acquiring an additional 35,935 shares during the last quarter. CenterBook Partners LP acquired a new position in shares of Energy Vault during the 4th quarter worth about $260,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Energy Vault in the 1st quarter valued at about $91,000. Finally, Sapient Capital LLC acquired a new stake in Energy Vault in the 4th quarter valued at about $498,000. Institutional investors own 40.03% of the company’s stock.

Energy Vault Price Performance

Shares of NRGV stock opened at $0.84 on Monday. The stock has a 50-day moving average of $1.03 and a 200-day moving average of $1.26. Energy Vault has a one year low of $0.78 and a one year high of $3.25. The stock has a market cap of $125.11 million, a PE ratio of -1.40 and a beta of 0.66.

Energy Vault (NYSE:NRGV) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.07). Energy Vault had a negative return on equity of 40.67% and a negative net margin of 29.29%. The firm had revenue of $3.77 million for the quarter, compared to the consensus estimate of $16.65 million. During the same period in the prior year, the business earned ($0.18) earnings per share. As a group, research analysts anticipate that Energy Vault will post -0.6 earnings per share for the current year.

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.