TD Cowen Reiterates Buy Rating for Energy Vault (NYSE:NRGV)

TD Cowen reissued their buy rating on shares of Energy Vault (NYSE:NRGV) in a research note issued to investors on Wednesday,Benzinga reports. TD Cowen currently has a $2.50 target price on the stock.

Separately, Roth Mkm reduced 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 note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $1.95.

Energy Vault Trading Down 12.0 %

Energy Vault stock opened at $1.46 on Wednesday. Energy Vault has a 12-month low of $0.78 and a 12-month high of $2.69. The firm has a 50 day simple moving average of $1.33 and a 200-day simple moving average of $1.18.

Energy Vault (NYSE:NRGV) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.03). Energy Vault had a negative return on equity of 47.41% and a negative net margin of 73.37%. The business had revenue of $1.20 million during the quarter, compared to the consensus estimate of $4.80 million. During the same quarter last year, the firm posted ($0.13) earnings per share. As a group, equities analysts predict that Energy Vault will post -0.6 EPS for the current year.

Institutional Trading of Energy Vault

Hedge funds and other institutional investors have recently bought and sold shares of the stock. DRW Securities LLC bought a new stake in shares of Energy Vault in the 3rd quarter worth approximately $31,000. SG Americas Securities LLC raised its stake in shares of Energy Vault by 95.5% in the third quarter. SG Americas Securities LLC now owns 35,601 shares of the company’s stock valued at $34,000 after purchasing an additional 17,388 shares in the last quarter. Mesirow Financial Investment Management Inc. lifted its position in Energy Vault by 33.3% in the second quarter. Mesirow Financial Investment Management Inc. now owns 80,000 shares of the company’s stock worth $76,000 after purchasing an additional 20,000 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in Energy Vault in the 1st quarter valued at $91,000. Finally, Barclays PLC raised its stake in shares of Energy Vault by 225.2% in the 3rd quarter. Barclays PLC now owns 143,759 shares of the company’s stock valued at $137,000 after buying an additional 99,550 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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.