Roth Mkm Cuts Energy Vault (NYSE:NRGV) Price Target to $1.50

Energy Vault (NYSE:NRGV) had its target price dropped by investment analysts at Roth Mkm from $2.50 to $1.50 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Roth Mkm’s price objective would indicate a potential upside of 57.23% from the stock’s current price.

Several other research firms have also recently weighed in on NRGV. TD Cowen decreased their target price on shares of Energy Vault from $2.50 to $2.00 and set a “buy” rating for the company in a research note on Tuesday. The Goldman Sachs Group decreased their target price on shares of Energy Vault from $1.00 to $0.75 and set a “sell” rating for the company in a research note on Wednesday. Two analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $1.60.

Energy Vault Stock Up 4.6 %

NYSE NRGV opened at $0.95 on Thursday. Energy Vault has a 12-month low of $0.78 and a 12-month high of $2.70. The company has a market capitalization of $145.12 million, a PE ratio of -1.47 and a beta of 0.45. The firm’s 50 day moving average is $1.54 and its 200-day moving average is $1.56.

Energy Vault (NYSE:NRGV) last posted its quarterly earnings data 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 business had revenue of $38.95 million during the quarter, compared to analyst estimates of $42.51 million. As a group, sell-side analysts expect that Energy Vault will post -0.64 EPS for the current year.

Hedge Funds Weigh In On Energy Vault

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NRGV. DRW Securities LLC bought a new position in Energy Vault during the third quarter worth $31,000. State Street Corp boosted its position in Energy Vault by 1.1% during the third 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 period. Barclays PLC boosted its position in shares of Energy Vault by 225.2% in the third quarter. Barclays PLC now owns 143,759 shares of the company’s stock valued at $137,000 after acquiring an additional 99,550 shares during the period. Geode Capital Management LLC boosted its position 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 acquiring an additional 177,214 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of Energy Vault by 22.5% in the fourth quarter. SG Americas Securities LLC now owns 43,600 shares of the company’s stock valued at $99,000 after acquiring an additional 7,999 shares during the period. 40.03% of the stock is owned by institutional investors.

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.