Energy Vault Holdings, Inc. (NYSE:NRGV) Receives $1.95 Average Price Target from Analysts

Energy Vault Holdings, Inc. (NYSE:NRGV) has been given a consensus rating of “Hold” by the six brokerages that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $1.95.

Separately, TD Cowen reiterated a “buy” rating and set a $2.50 price target on shares of Energy Vault in a report on Wednesday, November 13th.

Insider Activity

In related news, CEO Robert Piconi bought 150,000 shares of the stock in a transaction dated Friday, November 22nd. The stock was acquired at an average price of $1.57 per share, for a total transaction of $235,500.00. Following the acquisition, the chief executive officer now owns 17,623,361 shares in the company, valued at approximately $27,668,676.77. This represents a 0.86 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 19.80% of the company’s stock.

Institutional Investors Weigh In On Energy Vault

Institutional investors and hedge funds have recently bought and sold shares of the stock. DRW Securities LLC acquired a new position in Energy Vault during the third quarter worth approximately $31,000. SG Americas Securities LLC grew its position in shares of Energy Vault by 95.5% during the third quarter. SG Americas Securities LLC now owns 35,601 shares of the company’s stock worth $34,000 after acquiring an additional 17,388 shares during the last quarter. Mesirow Financial Investment Management Inc. increased its holdings 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 valued at $76,000 after acquiring an additional 20,000 shares during the period. Barclays PLC raised its position in Energy Vault by 225.2% in the 3rd quarter. Barclays PLC now owns 143,759 shares of the company’s stock valued at $137,000 after purchasing an additional 99,550 shares during the last quarter. Finally, Green Alpha Advisors LLC boosted its stake in Energy Vault by 62.3% during the 3rd quarter. Green Alpha Advisors LLC now owns 158,171 shares of the company’s stock worth $152,000 after purchasing an additional 60,725 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Energy Vault Trading Down 3.2 %

Shares of NYSE NRGV opened at $1.84 on Wednesday. Energy Vault has a 12-month low of $0.78 and a 12-month high of $2.68. The stock has a market cap of $279.90 million, a P/E ratio of -2.83 and a beta of 0.49. The business’s fifty day simple moving average is $1.66 and its 200-day simple moving average is $1.25.

Energy Vault (NYSE:NRGV) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.03). Energy Vault had a negative net margin of 73.37% and a negative return on equity of 47.41%. The company had revenue of $1.20 million during the quarter, compared to analyst estimates of $4.80 million. During the same period in the prior year, the business earned ($0.13) EPS. On average, equities analysts forecast that Energy Vault will post -0.64 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.