Energy Vault (NYSE:NRGV) Price Target Lowered to $2.00 at TD Cowen

Energy Vault (NYSE:NRGV) had its price objective reduced by TD Cowen from $2.50 to $2.00 in a research note issued to investors on Tuesday, Marketbeat.com reports. They currently have a buy rating on the stock.

Energy Vault Stock Performance

NYSE:NRGV opened at $0.90 on Tuesday. The stock’s 50-day simple moving average is $1.61 and its 200 day simple moving average is $1.56. The company has a market cap of $137.06 million, a P/E ratio of -1.39 and a beta of 0.45. Energy Vault has a 52-week low of $0.78 and a 52-week high of $2.70.

Energy Vault (NYSE:NRGV) last released its earnings results on Monday, March 17th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.21). The company had revenue of $38.95 million during the quarter, compared to analyst estimates of $42.51 million. Energy Vault had a negative net margin of 73.37% and a negative return on equity of 47.41%. As a group, equities analysts predict that Energy Vault will post -0.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Energy Vault

A number of institutional investors have recently bought and sold shares of the business. Squarepoint Ops LLC acquired a new position in Energy Vault during the fourth quarter worth approximately $50,000. Shepherd Kaplan Krochuk LLC acquired a new position in Energy Vault during the fourth quarter worth approximately $31,000. ProShare Advisors LLC increased its position in Energy Vault by 199.9% during the fourth quarter. ProShare Advisors LLC now owns 58,398 shares of the company’s stock worth $133,000 after buying an additional 38,927 shares during the last quarter. Millennium Management LLC increased its position in Energy Vault by 122.5% during the fourth quarter. Millennium Management LLC now owns 1,442,399 shares of the company’s stock worth $3,289,000 after buying an additional 794,253 shares during the last quarter. Finally, Deutsche Bank AG increased its position in Energy Vault by 69.2% during the fourth quarter. Deutsche Bank AG now owns 57,197 shares of the company’s stock worth $130,000 after buying an additional 23,386 shares during the last quarter. Institutional investors and hedge funds own 40.03% 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.