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

Energy Vault (NYSE:NRGV) had its price target dropped by analysts at TD Cowen from $2.50 to $2.00 in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price target indicates a potential upside of 99.00% from the company’s current price.

Energy Vault Trading Up 11.7 %

NRGV stock opened at $1.01 on Tuesday. The company has a market cap of $152.88 million, a price-to-earnings ratio of -1.55 and a beta of 0.45. Energy Vault has a 12 month low of $0.78 and a 12 month high of $2.70. The firm has a 50-day moving average of $1.59 and a two-hundred day moving average of $1.56.

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

Hedge Funds Weigh In On Energy Vault

A number of hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers boosted its position in Energy Vault by 4.9% in the 4th quarter. Rhumbline Advisers now owns 146,881 shares of the company’s stock valued at $335,000 after buying an additional 6,851 shares during the period. DRW Securities LLC boosted its position in Energy Vault by 22.0% in the 4th quarter. DRW Securities LLC now owns 39,400 shares of the company’s stock valued at $90,000 after buying an additional 7,100 shares during the period. Root Financial Partners LLC boosted its position in Energy Vault by 35.0% in the 4th quarter. Root Financial Partners LLC now owns 30,404 shares of the company’s stock valued at $69,000 after buying an additional 7,876 shares during the period. SG Americas Securities LLC boosted its position in Energy Vault by 22.5% in the 4th quarter. SG Americas Securities LLC now owns 43,600 shares of the company’s stock valued at $99,000 after buying an additional 7,999 shares during the period. Finally, Two Sigma Securities LLC boosted its position in Energy Vault by 81.0% in the 4th quarter. Two Sigma Securities LLC now owns 22,303 shares of the company’s stock valued at $51,000 after buying an additional 9,982 shares during the period. Hedge funds and other institutional investors 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.