Energy Vault Holdings, Inc. (NYSE:NRGV) Receives $2.25 Consensus Target Price from Analysts

Energy Vault Holdings, Inc. (NYSE:NRGV) has received an average rating of “Hold” from the six analysts that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating and four have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $2.25.

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

Institutional Trading of Energy Vault

A number of institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Energy Vault by 17.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 242,541 shares of the company’s stock valued at $434,000 after acquiring an additional 35,935 shares during the last quarter. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 43,764 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Energy Vault during the 1st quarter worth approximately $91,000. Bank of New York Mellon Corp boosted its holdings in shares of Energy Vault by 21.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 341,909 shares of the company’s stock valued at $325,000 after buying an additional 61,135 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. boosted its holdings in shares of Energy Vault by 33.3% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 80,000 shares of the company’s stock valued at $76,000 after buying an additional 20,000 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Energy Vault Price Performance

NYSE:NRGV opened at $1.69 on Tuesday. Energy Vault has a 1 year low of $0.78 and a 1 year high of $3.22. The stock has a 50-day moving average price of $1.05 and a two-hundred day moving average price of $1.11.

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