Analysts Set Energy Vault Holdings, Inc. (NYSE:NRGV) Price Target at $2.65

Shares of Energy Vault Holdings, Inc. (NYSE:NRGV) have received a consensus recommendation of “Hold” from the six research firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating and four have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $2.25.

Several equities research analysts have issued reports on NRGV shares. Roth Mkm lowered their price target on shares of Energy Vault from $2.50 to $2.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Stifel Nicolaus lowered their target price on Energy Vault from $6.00 to $3.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Finally, TD Cowen reduced their price target on Energy Vault from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Monday, May 13th.

Energy Vault Stock Performance

NYSE:NRGV opened at $0.79 on Thursday. The stock has a 50-day simple moving average of $1.06 and a 200 day simple moving average of $1.34. Energy Vault has a 52-week low of $0.78 and a 52-week high of $3.38. The company has a market cap of $116.85 million, a PE ratio of -1.31 and a beta of 0.65.

Energy Vault (NYSE:NRGV) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.07). The business had revenue of $3.77 million for the quarter, compared to the consensus estimate of $16.65 million. Energy Vault had a negative return on equity of 38.36% and a negative net margin of 26.17%. During the same period in the prior year, the business earned ($0.18) earnings per share. On average, research analysts predict that Energy Vault will post -0.5 earnings per share for the current fiscal year.

Insider Activity at Energy Vault

In other Energy Vault news, CMO Laurence Alexander sold 22,316 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $1.16, for a total value of $25,886.56. Following the sale, the chief marketing officer now owns 1,219,657 shares in the company, valued at $1,414,802.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 63,804 shares of company stock worth $73,319. Insiders own 19.80% of the company’s stock.

Hedge Funds Weigh In On Energy Vault

Several institutional investors and hedge funds have recently modified their holdings of NRGV. Sapient Capital LLC bought a new stake in shares of Energy Vault during the 4th quarter worth about $498,000. XTX Topco Ltd boosted its holdings in shares of Energy Vault by 684.0% during the second quarter. XTX Topco Ltd now owns 173,016 shares of the company’s stock worth $164,000 after acquiring an additional 150,948 shares during the period. CenterBook Partners LP acquired a new position in shares of Energy Vault in the fourth quarter valued at approximately $260,000. Bank of New York Mellon Corp increased its stake in shares of Energy Vault by 21.8% during the second quarter. Bank of New York Mellon Corp now owns 341,909 shares of the company’s stock worth $325,000 after purchasing an additional 61,135 shares during the period. Finally, Mesirow Financial Investment Management Inc. acquired a new stake in Energy Vault during the 1st quarter worth approximately $107,000. 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.