Energy Vault Holdings, Inc. (NYSE:NRGV) Receives $2.25 Average Price Target from Brokerages

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

Separately, Roth Mkm cut their price target on shares of Energy Vault from $2.50 to $2.00 and set a “buy” rating on the stock in a report on Thursday, August 8th.

Institutional Trading of Energy Vault

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its position in Energy Vault by 17.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 242,541 shares of the company’s stock worth $434,000 after buying an additional 35,935 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Energy Vault by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 1,675,361 shares of the company’s stock valued at $2,999,000 after acquiring an additional 43,764 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Energy Vault during the first quarter worth about $91,000. Bank of New York Mellon Corp increased its position in shares of Energy Vault by 21.8% in the second quarter. Bank of New York Mellon Corp now owns 341,909 shares of the company’s stock worth $325,000 after purchasing an additional 61,135 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. raised its stake in Energy Vault by 33.3% in the second quarter. Mesirow Financial Investment Management Inc. now owns 80,000 shares of the company’s stock valued at $76,000 after purchasing an additional 20,000 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Energy Vault Stock Down 1.8 %

NRGV stock opened at $1.66 on Tuesday. The firm has a market capitalization of $247.09 million, a PE ratio of -2.77 and a beta of 0.65. Energy Vault has a twelve month low of $0.78 and a twelve month high of $3.22. The stock’s 50 day moving average is $1.07 and its 200-day moving average is $1.11.

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

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.