Brokerages Set Energy Vault Holdings, Inc. (NYSE:NRGV) Target Price at $2.81

Energy Vault Holdings, Inc. (NYSE:NRGV) has been assigned a consensus rating of “Hold” from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $2.85.

NRGV has been the subject of several recent analyst reports. The Goldman Sachs Group decreased their price target on Energy Vault from $1.70 to $1.50 and set a “sell” rating for the company in a research note on Friday, March 22nd. TD Cowen decreased their target price on Energy Vault from $6.00 to $5.00 and set an “outperform” rating for the company in a research report on Wednesday, March 13th. Roth Mkm started coverage on shares of Energy Vault in a research report on Tuesday, January 16th. They issued a “buy” rating and a $4.00 price target on the stock. Chardan Capital reaffirmed a “sell” rating and set a $0.75 price objective (down from $7.00) on shares of Energy Vault in a report on Monday, April 8th. Finally, Roth Capital reiterated a “buy” rating on shares of Energy Vault in a research note on Tuesday, January 16th.

Energy Vault Stock Up 0.8 %

NYSE NRGV opened at $1.27 on Tuesday. The stock has a market capitalization of $186.79 million, a PE ratio of -1.87 and a beta of 0.71. Energy Vault has a 12-month low of $1.05 and a 12-month high of $3.55. The company has a 50 day moving average price of $1.55 and a two-hundred day moving average price of $1.89.

Energy Vault (NYSE:NRGV) last released its quarterly earnings data on Tuesday, March 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.05). The business had revenue of $118.24 million during the quarter, compared to analyst estimates of $122.05 million. Energy Vault had a negative net margin of 28.82% and a negative return on equity of 40.42%. As a group, equities analysts anticipate that Energy Vault will post -0.41 EPS for the current year.

Insider Activity

In related news, CMO Laurence Alexander sold 20,385 shares of Energy Vault stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $1.64, for a total transaction of $33,431.40. Following the sale, the chief marketing officer now directly owns 897,123 shares of the company’s stock, valued at $1,471,281.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last three months, insiders sold 77,966 shares of company stock valued at $124,984. 19.80% of the stock is 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 business. DekaBank Deutsche Girozentrale acquired a new position in shares of Energy Vault in the 3rd quarter worth approximately $25,000. International Assets Investment Management LLC acquired a new position in Energy Vault during the fourth quarter worth $270,000. Bleakley Financial Group LLC bought a new position in shares of Energy Vault during the fourth quarter valued at $33,000. Simplicity Solutions LLC acquired a new stake in shares of Energy Vault in the 4th quarter valued at $33,000. Finally, Alpine Global Management LLC bought a new stake in shares of Energy Vault in the 3rd quarter worth about $38,000. Institutional investors 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.