The Goldman Sachs Group Has Lowered Expectations for Energy Vault (NYSE:NRGV) Stock Price

Energy Vault (NYSE:NRGV) had its target price decreased by The Goldman Sachs Group from $1.00 to $0.75 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “sell” rating on the stock. The Goldman Sachs Group’s target price points to a potential downside of 17.67% from the company’s current price.

Separately, TD Cowen lowered their target price on shares of Energy Vault from $2.50 to $2.00 and set a “buy” rating for the company in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Energy Vault has an average rating of “Hold” and a consensus price target of $1.60.

Energy Vault Stock Performance

NYSE:NRGV opened at $0.91 on Wednesday. Energy Vault has a fifty-two week low of $0.78 and a fifty-two week high of $2.70. The stock has a market capitalization of $138.58 million, a P/E ratio of -1.40 and a beta of 0.45. The company’s 50-day simple moving average is $1.56 and its 200-day simple moving average is $1.56.

Energy Vault (NYSE:NRGV) last released its earnings results on Monday, March 17th. The company reported ($0.35) 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 return on equity of 47.41% and a negative net margin of 73.37%. On average, research analysts forecast that Energy Vault will post -0.64 EPS for the current year.

Hedge Funds Weigh In On Energy Vault

Institutional investors have recently bought and sold shares of the business. Truist Financial Corp purchased a new position in Energy Vault during the 4th quarter worth approximately $27,000. Virtu Financial LLC purchased a new position in Energy Vault during the 4th quarter worth approximately $27,000. Atala Financial Inc purchased a new position in Energy Vault during the 4th quarter worth approximately $31,000. Shepherd Kaplan Krochuk LLC purchased a new position in shares of Energy Vault during the 4th quarter valued at approximately $31,000. Finally, PFG Investments LLC purchased a new position in shares of Energy Vault during the 4th quarter valued at approximately $42,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

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.