Energy Vault (NYSE:NRGV) Given “Buy” Rating at Roth Capital

Roth Capital restated their buy rating on shares of Energy Vault (NYSE:NRGVFree Report) in a research report report published on Tuesday morning, PriceTargets.com reports.

Separately, Roth Mkm started coverage on shares of Energy Vault in a report on Tuesday. They set a buy rating and a $4.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $5.05.

Check Out Our Latest Stock Analysis on Energy Vault

Energy Vault Stock Down 2.3 %

Energy Vault stock opened at $1.71 on Tuesday. The company’s 50-day moving average price is $2.25 and its 200-day moving average price is $2.59. Energy Vault has a twelve month low of $1.35 and a twelve month high of $5.51. The company has a market cap of $245.47 million, a PE ratio of -2.44 and a beta of 0.54.

Energy Vault (NYSE:NRGVGet Free Report) last posted its earnings results on Tuesday, November 7th. The company reported ($0.13) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.13). Energy Vault had a negative net margin of 30.76% and a negative return on equity of 38.36%. The firm had revenue of $172.21 million for the quarter, compared to the consensus estimate of $102.80 million. As a group, sell-side analysts expect that Energy Vault will post -0.62 earnings per share for the current fiscal year.

Insider Activity at Energy Vault

In other Energy Vault news, insider Akshay Ladwa sold 20,864 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $2.19, for a total value of $45,692.16. Following the transaction, the insider now directly owns 1,038,190 shares in the company, valued at approximately $2,273,636.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Energy Vault news, insider Akshay Ladwa sold 20,864 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $2.19, for a total value of $45,692.16. Following the transaction, the insider now directly owns 1,038,190 shares in the company, valued at approximately $2,273,636.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Gaalen Johannes Cornelis M. Van sold 17,991 shares of the company’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $1.95, for a total transaction of $35,082.45. Following the completion of the transaction, the chief financial officer now owns 582,009 shares in the company, valued at $1,134,917.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,069 shares of company stock worth $189,346. Insiders own 20.00% of the company’s stock.

Hedge Funds Weigh In On Energy Vault

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in shares of Energy Vault by 29.2% in the 2nd quarter. BlackRock Inc. now owns 6,297,654 shares of the company’s stock worth $17,193,000 after purchasing an additional 1,422,804 shares during the period. State Street Corp lifted its position in shares of Energy Vault by 78.8% in the 2nd quarter. State Street Corp now owns 2,620,200 shares of the company’s stock worth $7,153,000 after purchasing an additional 1,154,404 shares during the period. Geode Capital Management LLC lifted its position in shares of Energy Vault by 22.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,661,273 shares of the company’s stock worth $4,535,000 after purchasing an additional 305,926 shares during the period. Vanguard Group Inc. lifted its position in shares of Energy Vault by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,466,671 shares of the company’s stock worth $3,740,000 after purchasing an additional 32,231 shares during the period. Finally, Invesco Ltd. purchased a new stake in shares of Energy Vault in the 1st quarter worth approximately $21,416,000. 33.65% of the stock is currently owned by institutional investors.

Energy Vault Company Profile

(Get Free Report)

Energy Vault Holdings, Inc develops and sells energy storage solutions. The company offers battery energy storage systems for shorter-duration energy storage needs; gravity energy storage systems, including EVx solution; green hydrogen energy storage systems; hybrid energy storage systems; and energy management software platform that orchestrates the management of one or more diverse storage mediums.

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Analyst Recommendations for Energy Vault (NYSE:NRGV)

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