The Goldman Sachs Group Has Lowered Expectations for Energy Vault (NYSE:NRGV) Stock Price

Energy Vault (NYSE:NRGV) had its price objective dropped by The Goldman Sachs Group from $1.00 to $0.75 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “sell” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential downside of 17.67% from the stock’s previous close.

Separately, TD Cowen dropped their price target on shares of Energy Vault from $2.50 to $2.00 and set a “buy” rating on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating and three have given a buy rating to the stock. According to MarketBeat.com, Energy Vault has a consensus rating of “Hold” and a consensus price target of $1.60.

Energy Vault Price Performance

NYSE:NRGV opened at $0.91 on Wednesday. The firm has a market cap of $138.58 million, a price-to-earnings ratio of -1.40 and a beta of 0.45. The company has a 50 day moving average price of $1.56 and a 200-day moving average price of $1.56. Energy Vault has a 1-year low of $0.78 and a 1-year high of $2.70.

Energy Vault (NYSE:NRGV) last released its quarterly earnings results on Monday, March 17th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.21). Energy Vault had a negative net margin of 73.37% and a negative return on equity of 47.41%. The company had revenue of $38.95 million during the quarter, compared to analyst estimates of $42.51 million. On average, sell-side analysts anticipate that Energy Vault will post -0.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Energy Vault

A number of institutional investors have recently added to or reduced their stakes in the stock. DRW Securities LLC acquired a new stake in Energy Vault during the 3rd quarter worth $31,000. State Street Corp boosted its stake 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 during the last quarter. Barclays PLC boosted its stake 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 boosted its stake in Energy Vault by 8.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,273,042 shares of the company’s stock worth $2,182,000 after purchasing an additional 177,214 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in Energy Vault by 22.5% during the 4th quarter. SG Americas Securities LLC now owns 43,600 shares of the company’s stock worth $99,000 after purchasing an additional 7,999 shares during the last quarter. Institutional investors and hedge funds 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.