Energy Vault (NYSE:NRGV) Given New $1.50 Price Target at Roth Mkm

Energy Vault (NYSE:NRGV) had its price objective decreased by equities research analysts at Roth Mkm from $2.50 to $1.50 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Roth Mkm’s price target indicates a potential upside of 60.26% from the stock’s current price.

A number of other analysts have also commented on the stock. TD Cowen reduced their price objective 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 lowered their price objective on shares of Energy Vault from $1.00 to $0.75 and set a “sell” rating on the stock in a research report on Wednesday. Two equities research 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, Energy Vault presently has a consensus rating of “Hold” and a consensus target price of $1.60.

Energy Vault Stock Down 6.4 %

Shares of Energy Vault stock traded down $0.06 during trading hours on Thursday, hitting $0.94. 903,811 shares of the company’s stock traded hands, compared to its average volume of 991,370. The company has a market cap of $142.38 million, a PE ratio of -1.44 and a beta of 0.45. Energy Vault has a twelve month low of $0.78 and a twelve month high of $2.70. The stock has a 50 day simple moving average of $1.59 and a 200-day simple moving average of $1.56.

Energy Vault (NYSE:NRGV) last released its quarterly earnings results on Monday, March 17th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.21). The business had revenue of $38.95 million for the quarter, compared to the consensus estimate of $42.51 million. Energy Vault had a negative net margin of 73.37% and a negative return on equity of 47.41%. As a group, equities research analysts predict that Energy Vault will post -0.64 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Truist Financial Corp acquired a new stake in Energy Vault during the fourth quarter valued at approximately $27,000. Virtu Financial LLC bought a new stake in Energy Vault during the 4th quarter worth about $27,000. Atala Financial Inc bought a new position in shares of Energy Vault in the 4th quarter valued at about $31,000. DRW Securities LLC acquired a new stake in shares of Energy Vault during the 3rd quarter worth approximately $31,000. Finally, Shepherd Kaplan Krochuk LLC bought a new stake in shares of Energy Vault during the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

About Energy Vault

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.