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

Energy Vault Holdings, Inc. (NYSE:NRGV) has been given an average rating of “Hold” by the six ratings firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $2.25.

Several brokerages have recently weighed in on NRGV. TD Cowen dropped their price objective on shares of Energy Vault from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Monday, May 13th. Roth Mkm cut their price target on Energy Vault from $2.50 to $2.00 and set a “buy” rating on the stock in a report on Thursday, August 8th.

Energy Vault Stock Up 1.2 %

Shares of NRGV stock opened at $1.01 on Monday. The company has a market cap of $150.34 million, a P/E ratio of -1.68 and a beta of 0.65. Energy Vault has a twelve month low of $0.78 and a twelve month high of $3.33. The business has a fifty day simple moving average of $1.03 and a 200 day simple moving average of $1.29.

Energy Vault (NYSE:NRGV) last posted its earnings results on Tuesday, August 6th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.07). Energy Vault had a negative return on equity of 40.67% and a negative net margin of 29.29%. The business had revenue of $3.77 million for the quarter, compared to analyst estimates of $16.65 million. During the same quarter in the prior year, the business earned ($0.18) earnings per share. As a group, equities research analysts anticipate that Energy Vault will post -0.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Energy Vault

In other news, CMO Laurence Alexander sold 22,316 shares of the firm’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 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 63,804 shares of company stock valued at $73,319 in the last 90 days. Corporate insiders own 19.80% of the company’s stock.

Institutional Investors Weigh In On Energy Vault

Institutional investors and hedge funds have recently made changes to their positions in the company. Mesirow Financial Investment Management Inc. lifted its stake in shares of Energy Vault by 33.3% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 80,000 shares of the company’s stock valued at $76,000 after buying an additional 20,000 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Energy Vault by 17.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 242,541 shares of the company’s stock valued at $434,000 after acquiring an additional 35,935 shares during the last quarter. Vanguard Group Inc. grew its position in Energy Vault by 2.7% in the first quarter. Vanguard Group Inc. now owns 1,675,361 shares of the company’s stock worth $2,999,000 after acquiring an additional 43,764 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Energy Vault during the first quarter worth approximately $91,000. Finally, Bank of New York Mellon Corp raised its position in Energy Vault by 21.8% during the second quarter. Bank of New York Mellon Corp now owns 341,909 shares of the company’s stock valued at $325,000 after purchasing an additional 61,135 shares during the period. 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.