Energy Vault Holdings, Inc. (NYSE:NRGV) Receives Average Rating of “Hold” from Brokerages

Energy Vault Holdings, Inc. (NYSE:NRGV) has received an average rating of “Hold” from the six research firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $2.25.

A number of equities research analysts have commented on the company. Roth Mkm decreased their price target on Energy Vault from $2.50 to $2.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. TD Cowen decreased their price objective on shares of 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 Down 8.1 %

Shares of Energy Vault stock opened at $0.84 on Monday. The company has a market cap of $125.11 million, a P/E ratio of -1.40 and a beta of 0.66. The firm’s 50 day moving average price is $1.03 and its 200-day moving average price is $1.26. Energy Vault has a 52-week low of $0.78 and a 52-week high of $3.25.

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

Institutional Trading of Energy Vault

Several large investors have recently added to or reduced their stakes in NRGV. Sapient Capital LLC acquired a new stake in shares of Energy Vault during the fourth quarter worth about $498,000. XTX Topco Ltd lifted its stake in Energy Vault by 684.0% during the 2nd quarter. XTX Topco Ltd now owns 173,016 shares of the company’s stock valued at $164,000 after acquiring an additional 150,948 shares during the period. CenterBook Partners LP purchased a new stake in shares of Energy Vault in the 4th quarter valued at $260,000. Bank of New York Mellon Corp increased its stake in shares of Energy Vault by 21.8% in the second quarter. Bank of New York Mellon Corp now owns 341,909 shares of the company’s stock worth $325,000 after acquiring an additional 61,135 shares during the period. Finally, Mesirow Financial Investment Management Inc. purchased a new position in shares of Energy Vault during the first quarter worth $107,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

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.