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

Energy Vault Holdings, Inc. (NYSE:NRGV) has received an average recommendation of “Hold” from the six brokerages that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $2.65.

A number of equities analysts recently issued reports on NRGV shares. TD Cowen reduced their target price on Energy Vault from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Monday, May 13th. Stifel Nicolaus reduced their price objective on Energy Vault from $6.00 to $3.00 and set a “buy” rating for the company in a research note 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. Finally, The Goldman Sachs Group reduced their price target on shares of Energy Vault from $1.70 to $1.50 and set a “sell” rating for the company in a research report on Friday, March 22nd.

Energy Vault Stock Up 0.7 %

NRGV opened at $0.95 on Wednesday. The company has a market cap of $142.00 million, a P/E ratio of -1.59 and a beta of 0.72. The firm’s 50-day moving average price is $1.19 and its 200-day moving average price is $1.59. Energy Vault has a 52-week low of $0.91 and a 52-week high of $3.55.

Energy Vault (NYSE:NRGV) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.14). Energy Vault had a negative net margin of 26.17% and a negative return on equity of 38.36%. The business had revenue of $7.76 million for the quarter, compared to analyst estimates of $11.35 million. On average, research analysts anticipate that Energy Vault will post -0.5 EPS for the current fiscal year.

Insider Transactions at Energy Vault

In other Energy Vault 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 value of $25,886.56. Following the completion of the transaction, the chief marketing officer now directly owns 1,219,657 shares of the company’s stock, valued at $1,414,802.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 80,665 shares of company stock worth $95,114 over the last quarter. 19.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its position in shares of Energy Vault by 28.5% during the 4th quarter. SG Americas Securities LLC now owns 54,009 shares of the company’s stock valued at $126,000 after acquiring an additional 11,992 shares during the period. Bleakley Financial Group LLC purchased a new stake in shares of Energy Vault in the fourth quarter valued at approximately $33,000. Simplicity Solutions LLC acquired a new position in shares of Energy Vault during the 4th quarter worth approximately $33,000. Alpine Global Management LLC purchased a new position in shares of Energy Vault during the 3rd quarter valued at approximately $38,000. Finally, CenterBook Partners LP acquired a new stake in Energy Vault in the 4th quarter valued at $260,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Energy Vault Company Profile

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.