Brokerages Set Energy Vault Holdings, Inc. (NYSE:NRGV) Target Price at $2.25

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

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

Institutional Investors Weigh In On Energy Vault

Hedge funds have recently made changes to their positions in the company. Mesirow Financial Investment Management Inc. boosted its position in Energy Vault by 33.3% during 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. Jacobs Levy Equity Management Inc. acquired a new position in shares of Energy Vault in the 1st quarter valued at about $91,000. XTX Topco Ltd boosted its position in Energy Vault by 684.0% in the 2nd quarter. XTX Topco Ltd now owns 173,016 shares of the company’s stock worth $164,000 after purchasing an additional 150,948 shares in the last quarter. CenterBook Partners LP purchased a new stake in Energy Vault during the fourth quarter worth $260,000. Finally, Bank of New York Mellon Corp grew its position in shares of Energy Vault by 21.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 341,909 shares of the company’s stock valued at $325,000 after acquiring an additional 61,135 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Energy Vault Stock Down 4.4 %

NYSE NRGV opened at $0.94 on Friday. Energy Vault has a twelve month low of $0.78 and a twelve month high of $3.22. The business has a 50-day moving average price of $0.97 and a 200-day moving average price of $1.17. The firm has a market cap of $139.40 million, a price-to-earnings ratio of -1.56 and a beta of 0.66.

Energy Vault (NYSE:NRGV) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $3.77 million during the quarter, compared to the consensus estimate of $16.65 million. During the same period in the previous year, the firm earned ($0.18) EPS. Research analysts expect that Energy Vault will post -0.6 EPS for the current fiscal year.

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.