Energy Vault Holdings, Inc. (NYSE:NRGV) Given Average Recommendation of “Hold” by Analysts

Shares of Energy Vault Holdings, Inc. (NYSE:NRGV) have been assigned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $2.25.

A number of research analysts have commented on the stock. Stifel Nicolaus reduced their price target on shares of Energy Vault from $6.00 to $3.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. TD Cowen reduced their target price on shares of Energy Vault from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Monday, May 13th. Finally, Roth Mkm lowered their price target on shares of Energy Vault from $2.50 to $2.00 and set a “buy” rating for the company in a research note on Thursday, August 8th.

Insider Activity

In related news, CMO Laurence Alexander sold 22,316 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $1.16, for a total transaction of $25,886.56. Following the completion of the sale, the chief marketing officer now directly owns 1,219,657 shares in the company, valued at approximately $1,414,802.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders sold 63,804 shares of company stock valued at $73,319. 19.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Bleakley Financial Group LLC bought a new position in Energy Vault in the fourth quarter worth about $33,000. Simplicity Solutions LLC purchased a new position in shares of Energy Vault during the fourth quarter valued at approximately $33,000. Mesirow Financial Investment Management Inc. grew its stake in shares of Energy Vault by 33.3% in the 2nd 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 during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Energy Vault during the 1st quarter valued at approximately $91,000. Finally, SG Americas Securities LLC raised its stake in Energy Vault by 28.5% during the fourth quarter. SG Americas Securities LLC now owns 54,009 shares of the company’s stock valued at $126,000 after buying an additional 11,992 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Energy Vault Stock Performance

Energy Vault stock opened at $0.79 on Thursday. Energy Vault has a fifty-two week low of $0.78 and a fifty-two week high of $3.38. The firm’s fifty day moving average price is $1.06 and its 200-day moving average price is $1.34. The stock has a market cap of $116.85 million, a P/E ratio of -1.31 and a beta of 0.65.

Energy Vault (NYSE:NRGV) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.07). The firm had revenue of $3.77 million for the quarter, compared to the consensus estimate of $16.65 million. Energy Vault had a negative return on equity of 38.36% and a negative net margin of 26.17%. During the same period last year, the firm earned ($0.18) EPS. On average, analysts predict that Energy Vault will post -0.5 earnings per share for the current 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.