Energy Vault (NYSE:NRGV) PT Lowered to $3.00

Energy Vault (NYSE:NRGV) had its target price lowered by stock analysts at Stifel Nicolaus from $6.00 to $3.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 140.00% from the stock’s current price.

Other analysts have also issued reports about the company. Roth Mkm assumed coverage on Energy Vault in a research note on Tuesday, January 16th. They set a “buy” rating and a $4.00 price objective on the stock. Chardan Capital reiterated a “sell” rating and set a $0.75 price objective (down from $7.00) on shares of Energy Vault in a research note on Monday, April 8th. Roth Capital reiterated a “buy” rating on shares of Energy Vault in a research note on Tuesday, January 16th. The Goldman Sachs Group decreased their price objective on Energy Vault from $1.70 to $1.50 and set a “sell” rating on the stock in a research note on Friday, March 22nd. Finally, TD Cowen decreased their target price on Energy Vault from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 13th. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Energy Vault presently has a consensus rating of “Hold” and a consensus target price of $2.85.

Energy Vault Price Performance

Shares of NYSE NRGV opened at $1.25 on Tuesday. Energy Vault has a one year low of $1.05 and a one year high of $3.55. The business’s fifty day moving average price is $1.57 and its 200-day moving average price is $1.91. The stock has a market capitalization of $183.85 million, a PE ratio of -1.84 and a beta of 0.58.

Energy Vault (NYSE:NRGV) last issued its quarterly earnings results on Tuesday, March 12th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05). Energy Vault had a negative net margin of 28.82% and a negative return on equity of 40.42%. The firm had revenue of $118.24 million for the quarter, compared to analysts’ expectations of $122.05 million. As a group, equities analysts expect that Energy Vault will post -0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other Energy Vault news, CMO Laurence Alexander sold 20,385 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $1.64, for a total value of $33,431.40. Following the transaction, the chief marketing officer now directly 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 is available through this hyperlink. Insiders have sold 77,966 shares of company stock worth $124,984 in the last ninety days. 19.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Energy Vault

A number of large investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in shares of Energy Vault by 2.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 292,520 shares of the company’s stock valued at $746,000 after buying an additional 7,853 shares in the last quarter. Sapient Capital LLC raised its holdings in shares of Energy Vault by 14.0% during the 1st quarter. Sapient Capital LLC now owns 243,939 shares of the company’s stock valued at $437,000 after buying an additional 30,000 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Energy Vault by 17.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 242,541 shares of the company’s stock valued at $434,000 after buying an additional 35,935 shares in the last quarter. CenterBook Partners LP purchased a new position in shares of Energy Vault during the 4th quarter valued at about $260,000. Finally, Green Alpha Advisors LLC raised its holdings in shares of Energy Vault by 20.7% during the 4th quarter. Green Alpha Advisors LLC now owns 101,023 shares of the company’s stock valued at $235,000 after buying an additional 17,333 shares in the last quarter. 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.