Energy Vault (NRGV) Scheduled to Post Quarterly Earnings on Wednesday

Energy Vault (NYSE:NRGV) is set to issue its quarterly earnings data after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of ($0.12) per share for the quarter.

Energy Vault (NYSE:NRGV) last announced its earnings results on Tuesday, March 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05). The company had revenue of $118.24 million for the quarter, compared to the consensus estimate of $122.05 million. Energy Vault had a negative return on equity of 40.42% and a negative net margin of 28.82%. On average, analysts expect Energy Vault to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Energy Vault Price Performance

Shares of Energy Vault stock opened at $1.27 on Wednesday. The company’s fifty day moving average price is $1.58 and its two-hundred day moving average price is $1.92. Energy Vault has a 52-week low of $1.05 and a 52-week high of $3.55.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NRGV shares. TD Cowen lowered their price target on shares of Energy Vault from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Wednesday, March 13th. Roth Capital reissued a “buy” rating on shares of Energy Vault in a report on Tuesday, January 16th. Chardan Capital reissued a “sell” rating and issued a $0.75 price target (down previously from $7.00) on shares of Energy Vault in a report on Monday, April 8th. Roth Mkm started coverage on shares of Energy Vault in a report on Tuesday, January 16th. They issued a “buy” rating and a $4.00 price target on the stock. Finally, The Goldman Sachs Group lowered their price target on shares of Energy Vault from $1.70 to $1.50 and set a “sell” rating on the stock in a report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $2.85.

Insider Activity

In other news, CMO Laurence Alexander sold 20,385 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $1.64, for a total value of $33,431.40. Following the sale, the chief marketing officer now owns 897,123 shares in the company, valued at approximately $1,471,281.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 77,966 shares of company stock worth $124,984. Corporate insiders own 19.80% of the company’s stock.

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.