The Goldman Sachs Group Has Lowered Expectations for Energy Vault (NYSE:NRGV) Stock Price

Energy Vault (NYSE:NRGV) had its price target reduced by The Goldman Sachs Group from $1.00 to $0.75 in a research note published on Wednesday,Benzinga reports. They currently have a sell rating on the stock.

Separately, TD Cowen dropped their target price on shares of Energy Vault from $2.50 to $2.00 and set a “buy” rating on the stock in a research report on Tuesday. 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 has a consensus rating of “Hold” and a consensus price target of $1.60.

Energy Vault Trading Up 4.6 %

Shares of NRGV stock opened at $0.95 on Wednesday. Energy Vault has a 12-month low of $0.78 and a 12-month high of $2.70. The business’s 50 day moving average is $1.54 and its two-hundred day moving average is $1.56. The company has a market capitalization of $145.12 million, a P/E ratio of -1.47 and a beta of 0.45.

Energy Vault (NYSE:NRGV) last announced its earnings results on Monday, March 17th. The company reported ($0.35) earnings per share (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 for the quarter, compared to analysts’ expectations of $42.51 million. On average, research analysts predict that Energy Vault will post -0.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Energy Vault

Several institutional investors and hedge funds have recently added to or reduced their stakes in NRGV. DRW Securities LLC purchased a new position in Energy Vault in the 3rd quarter worth approximately $31,000. State Street Corp increased its stake in shares of 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 acquiring an additional 20,915 shares during the last quarter. Barclays PLC raised its holdings in shares of Energy Vault by 225.2% during the 3rd quarter. Barclays PLC now owns 143,759 shares of the company’s stock worth $137,000 after acquiring an additional 99,550 shares during the period. Geode Capital Management LLC boosted its position in shares of Energy Vault by 8.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,273,042 shares of the company’s stock valued at $2,182,000 after acquiring an additional 177,214 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Energy Vault by 22.5% in the fourth quarter. SG Americas Securities LLC now owns 43,600 shares of the company’s stock valued at $99,000 after purchasing an additional 7,999 shares during the period. 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.