TD Cowen Lowers Energy Vault (NYSE:NRGV) Price Target to $2.00

Energy Vault (NYSE:NRGV) had its target price lowered by investment analysts at TD Cowen from $2.50 to $2.00 in a report issued on Tuesday,Briefing.com Automated Import reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s price objective indicates a potential upside of 74.67% from the stock’s previous close.

Energy Vault Stock Down 0.4 %

Shares of NRGV opened at $1.15 on Tuesday. The stock’s fifty day simple moving average is $1.64 and its 200-day simple moving average is $1.57. The firm has a market capitalization of $174.18 million, a PE ratio of -1.76 and a beta of 0.45. Energy Vault has a 12-month low of $0.78 and a 12-month high of $2.70.

Institutional Trading of Energy Vault

A number of institutional investors have recently bought and sold shares of the business. Invesco Ltd. lifted its stake in Energy Vault by 15,519.9% in the fourth quarter. Invesco Ltd. now owns 2,675,226 shares of the company’s stock valued at $6,100,000 after buying an additional 2,658,099 shares during the period. Geode Capital Management LLC increased its stake in Energy Vault by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 2,322,871 shares of the company’s stock worth $5,297,000 after purchasing an additional 49,829 shares in the last quarter. State Street Corp boosted its stake in Energy Vault by 1.1% in 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 period. Millennium Management LLC grew its holdings in shares of Energy Vault by 122.5% during the fourth quarter. Millennium Management LLC now owns 1,442,399 shares of the company’s stock worth $3,289,000 after buying an additional 794,253 shares in the last quarter. Finally, CastleKnight Management LP bought a new stake in Energy Vault in the 4th quarter valued at approximately $2,752,000. 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.