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

Energy Vault Holdings, Inc. (NYSE:NRGV) has been assigned a consensus recommendation of “Hold” from the six brokerages that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $2.65.

NRGV has been the topic of several analyst reports. Stifel Nicolaus dropped their price objective on Energy Vault from $6.00 to $3.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Chardan Capital reiterated a “sell” rating and issued a $0.75 target price (down previously from $7.00) on shares of Energy Vault in a research report on Monday, April 8th. The Goldman Sachs Group decreased their target price on Energy Vault from $1.70 to $1.50 and set a “sell” rating for the company in a research report on Friday, March 22nd. Finally, TD Cowen decreased their target price on Energy Vault from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Monday, May 13th.

Insider Activity at Energy Vault

In related news, CMO Laurence Alexander sold 22,316 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $1.16, for a total transaction of $25,886.56. Following the completion of the transaction, the chief marketing officer now owns 1,219,657 shares in the company, valued at approximately $1,414,802.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 80,665 shares of company stock worth $95,114 in the last 90 days. 19.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. acquired a new position in Energy Vault during the 1st quarter valued at approximately $91,000. Vanguard Group Inc. boosted its position in Energy Vault by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 1,675,361 shares of the company’s stock worth $2,999,000 after acquiring an additional 43,764 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in 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 worth $434,000 after acquiring an additional 35,935 shares during the period. Mesirow Financial Investment Management Inc. acquired a new position in Energy Vault during the 1st quarter worth $107,000. Finally, Sapient Capital LLC boosted its position in Energy Vault by 14.0% during the 1st quarter. Sapient Capital LLC now owns 243,939 shares of the company’s stock worth $437,000 after acquiring an additional 30,000 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Energy Vault Stock Performance

Shares of NYSE:NRGV opened at $1.05 on Wednesday. Energy Vault has a one year low of $1.02 and a one year high of $3.55. The business’s 50-day simple moving average is $1.21 and its 200 day simple moving average is $1.65. The company has a market cap of $156.29 million, a P/E ratio of -1.75 and a beta of 0.72.

Energy Vault (NYSE:NRGV) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.14). Energy Vault had a negative return on equity of 38.36% and a negative net margin of 26.17%. The company had revenue of $7.76 million for the quarter, compared to the consensus estimate of $11.35 million. Analysts predict that Energy Vault will post -0.5 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.