Brokerages Set Energy Vault Holdings, Inc. (NYSE:NRGV) PT at $2.25

Shares of Energy Vault Holdings, Inc. (NYSE:NRGV) have been assigned an average recommendation of “Hold” from the six research firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $2.25.

Separately, Roth Mkm cut their price target on Energy Vault from $2.50 to $2.00 and set a “buy” rating for the company in a report on Thursday, August 8th.

Hedge Funds Weigh In On Energy Vault

Several institutional investors and hedge funds have recently made changes to their positions in the company. XTX Topco Ltd boosted its stake in Energy Vault by 684.0% in the 2nd quarter. XTX Topco Ltd now owns 173,016 shares of the company’s stock valued at $164,000 after purchasing an additional 150,948 shares during the period. Bank of New York Mellon Corp lifted its holdings 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 buying an additional 61,135 shares in the last quarter. Green Alpha Advisors LLC boosted its position in shares of Energy Vault by 62.3% in the third quarter. Green Alpha Advisors LLC now owns 158,171 shares of the company’s stock valued at $152,000 after acquiring an additional 60,725 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in shares of Energy Vault in the first quarter valued at about $91,000. Finally, Vanguard Group Inc. grew its stake in shares of Energy Vault by 2.7% in the first quarter. Vanguard Group Inc. now owns 1,675,361 shares of the company’s stock valued at $2,999,000 after acquiring an additional 43,764 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Energy Vault Trading Down 4.3 %

Shares of NYSE:NRGV opened at $1.69 on Tuesday. Energy Vault has a 52-week low of $0.78 and a 52-week high of $3.22. The company has a 50-day simple moving average of $1.05 and a 200 day simple moving average of $1.11.

Energy Vault (NYSE:NRGV) last released its quarterly earnings data 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). Energy Vault had a negative net margin of 29.29% and a negative return on equity of 40.67%. The business had revenue of $3.77 million during the quarter, compared to analyst estimates of $16.65 million. During the same period in the previous year, the business earned ($0.18) earnings per share. On average, equities research analysts anticipate that Energy Vault will post -0.6 earnings per share for the current year.

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.