Energy Vault Holdings, Inc. (NYSE:NRGV) Receives Average Rating of “Hold” from Analysts

Shares of Energy Vault Holdings, Inc. (NYSE:NRGV) have been given an average recommendation of “Hold” by the six brokerages that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $2.25.

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

Energy Vault Stock Down 1.0 %

NRGV stock opened at $0.95 on Friday. The firm has a market cap of $141.41 million, a price-to-earnings ratio of -1.58 and a beta of 0.66. The company’s fifty day simple moving average is $0.97 and its 200 day simple moving average is $1.16. Energy Vault has a 12-month low of $0.78 and a 12-month high of $3.22.

Energy Vault (NYSE:NRGV) last announced 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 net margin of 29.29% and a negative return on equity of 40.67%. The business had revenue of $3.77 million during the quarter, compared to analyst estimates of $16.65 million. During the same period in the prior year, the firm earned ($0.18) earnings per share. Research analysts expect that Energy Vault will post -0.6 earnings per share for the current year.

Hedge Funds Weigh In On Energy Vault

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Energy Vault by 2.7% in 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Energy Vault by 17.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 242,541 shares of the company’s stock worth $434,000 after purchasing an additional 35,935 shares during the last quarter. CenterBook Partners LP bought a new position in shares of Energy Vault in the fourth quarter valued at approximately $260,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Energy Vault during the first quarter valued at approximately $91,000. Finally, Mesirow Financial Investment Management Inc. grew its holdings 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 worth $76,000 after buying an additional 20,000 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

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.