Energy Vault Holdings, Inc. (NYSE:NRGV) Receives $1.95 Average PT from Analysts

Shares of Energy Vault Holdings, Inc. (NYSE:NRGV) have been assigned a consensus recommendation of “Hold” from the six analysts that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $1.95.

Separately, TD Cowen reissued a “buy” rating and set a $2.50 price target on shares of Energy Vault in a research report on Wednesday, November 13th.

Insider Buying and Selling

In other news, CEO Robert Piconi bought 150,000 shares of the stock in a transaction on Friday, November 22nd. The stock was acquired at an average price of $1.57 per share, with a total value of $235,500.00. Following the acquisition, the chief executive officer now directly owns 17,623,361 shares in the company, valued at approximately $27,668,676.77. This trade represents a 0.86 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 19.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Energy Vault

A number of institutional investors have recently added to or reduced their stakes in NRGV. Barclays PLC raised its holdings in Energy Vault by 225.2% during the 3rd quarter. Barclays PLC now owns 143,759 shares of the company’s stock worth $137,000 after purchasing an additional 99,550 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Energy Vault by 8.5% in the third quarter. Geode Capital Management LLC now owns 2,273,042 shares of the company’s stock valued at $2,182,000 after buying an additional 177,214 shares in the last quarter. State Street Corp increased its holdings in Energy Vault by 1.1% during the 3rd quarter. State Street Corp now owns 1,850,702 shares of the company’s stock worth $1,777,000 after purchasing an additional 20,915 shares in the last quarter. DRW Securities LLC purchased a new stake in Energy Vault in the 3rd quarter valued at $31,000. Finally, Mesirow Financial Investment Management Inc. raised its holdings in shares of Energy Vault by 31.3% in the third quarter. Mesirow Financial Investment Management Inc. now owns 105,000 shares of the company’s stock valued at $101,000 after purchasing an additional 25,000 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Energy Vault Stock Performance

NYSE:NRGV opened at $1.85 on Wednesday. The company has a market cap of $280.66 million, a PE ratio of -2.84 and a beta of 0.49. The stock has a 50-day simple moving average of $1.66 and a 200 day simple moving average of $1.25. Energy Vault has a 52-week low of $0.78 and a 52-week high of $2.68.

Energy Vault (NYSE:NRGV) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.03). Energy Vault had a negative net margin of 73.37% and a negative return on equity of 47.41%. The business had revenue of $1.20 million during the quarter, compared to analyst estimates of $4.80 million. During the same quarter last year, the business earned ($0.13) earnings per share. On average, research analysts predict that Energy Vault will post -0.64 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.