Energy Vault Holdings, Inc. (NYSE:NRGV) Receives Average Rating of “Hold” from Analysts

Energy Vault Holdings, Inc. (NYSE:NRGV) has been given an average recommendation of “Hold” by the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $2.65.

A number of analysts have recently commented on NRGV shares. The Goldman Sachs Group cut their price target on Energy Vault from $1.70 to $1.50 and set a “sell” rating on the stock in a report on Friday, March 22nd. Stifel Nicolaus cut their price target on Energy Vault from $6.00 to $3.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. TD Cowen cut their price target on Energy Vault from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Monday, May 13th. Finally, Chardan Capital restated a “sell” rating and issued a $0.75 price target (down from $7.00) on shares of Energy Vault in a report on Monday, April 8th.

Insider Buying and Selling

In related news, CMO Laurence Alexander sold 22,316 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $1.16, for a total transaction of $25,886.56. Following the sale, the chief marketing officer now owns 1,219,657 shares in the company, valued at $1,414,802.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have sold 80,665 shares of company stock worth $95,114. Corporate insiders own 19.80% of the company’s stock.

Institutional Trading of Energy Vault

Several institutional investors and hedge funds have recently bought and sold shares of NRGV. DekaBank Deutsche Girozentrale acquired a new position in Energy Vault during the third quarter worth approximately $25,000. Simplicity Solutions LLC acquired a new position in Energy Vault during the fourth quarter worth approximately $33,000. Bleakley Financial Group LLC acquired a new position in Energy Vault during the fourth quarter worth approximately $33,000. First Citizens Bank & Trust Co. acquired a new position in Energy Vault during the fourth quarter worth approximately $37,000. Finally, Alpine Global Management LLC acquired a new position in shares of Energy Vault in the third quarter valued at approximately $38,000. Institutional investors own 40.03% of the company’s stock.

Energy Vault Stock Down 0.9 %

Shares of Energy Vault stock opened at $1.05 on Wednesday. Energy Vault has a 12 month low of $1.02 and a 12 month high of $3.55. The business has a fifty day simple moving average of $1.21 and a 200 day simple moving average of $1.65. The stock has a market cap of $156.29 million, a PE ratio of -1.75 and a beta of 0.72.

Energy Vault (NYSE:NRGV) last posted its earnings results on Wednesday, May 8th. The company reported ($0.14) earnings per share for the quarter, hitting the consensus estimate of ($0.14). The firm had revenue of $7.76 million for the quarter, compared to analyst estimates of $11.35 million. Energy Vault had a negative return on equity of 38.36% and a negative net margin of 26.17%. Analysts expect that Energy Vault will post -0.5 EPS for the current fiscal year.

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.