TD Cowen Cuts Energy Vault (NYSE:NRGV) Price Target to $2.00

Energy Vault (NYSE:NRGV) had its price objective decreased by TD Cowen from $2.50 to $2.00 in a research report released on Tuesday morning, MarketBeat.com reports. TD Cowen currently has a buy rating on the stock.

Energy Vault Stock Down 8.9 %

Shares of NRGV stock opened at $0.91 on Tuesday. The firm has a 50 day moving average of $1.56 and a two-hundred day moving average of $1.56. The stock has a market capitalization of $138.58 million, a PE ratio of -1.40 and a beta of 0.45. Energy Vault has a 52 week low of $0.78 and a 52 week high of $2.70.

Energy Vault (NYSE:NRGV) last released its earnings results on Monday, March 17th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $38.95 million during the quarter, compared to analysts’ expectations of $42.51 million. Analysts expect that Energy Vault will post -0.64 EPS for the current fiscal year.

Institutional Investors Weigh In On Energy Vault

A number of large investors have recently modified their holdings of the company. Truist Financial Corp acquired a new position in shares of Energy Vault during the fourth quarter worth $27,000. Virtu Financial LLC purchased a new stake in Energy Vault during the 4th quarter worth about $27,000. Atala Financial Inc acquired a new position in shares of Energy Vault during the 4th quarter worth about $31,000. DRW Securities LLC purchased a new position in shares of Energy Vault in the 3rd quarter valued at about $31,000. Finally, Shepherd Kaplan Krochuk LLC purchased a new position in shares of Energy Vault in the 4th quarter valued at about $31,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

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.