Roth Mkm Cuts Energy Vault (NYSE:NRGV) Price Target to $1.50

Energy Vault (NYSE:NRGV) had its price objective lowered by Roth Mkm from $2.50 to $1.50 in a research report report published on Thursday,Benzinga reports. Roth Mkm currently has a buy rating on the stock.

NRGV has been the topic of a number of other reports. TD Cowen reduced their price target 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, March 18th. The Goldman Sachs Group dropped their target price on shares of Energy Vault from $1.00 to $0.75 and set a “sell” rating for the company in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $1.60.

Energy Vault Stock Up 4.6 %

NYSE:NRGV opened at $0.95 on Thursday. The firm has a market cap of $145.12 million, a PE ratio of -1.47 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 company’s 50-day moving average price is $1.54 and its two-hundred day moving average price is $1.56.

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

Hedge Funds Weigh In On Energy Vault

Several hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. increased its stake in shares of Energy Vault by 15,519.9% in the 4th quarter. Invesco Ltd. now owns 2,675,226 shares of the company’s stock valued at $6,100,000 after acquiring an additional 2,658,099 shares during the last quarter. CastleKnight Management LP acquired a new stake in shares of Energy Vault in the 4th quarter valued at approximately $2,752,000. Millennium Management LLC raised its position in shares of Energy Vault by 122.5% in the 4th quarter. Millennium Management LLC now owns 1,442,399 shares of the company’s stock valued at $3,289,000 after acquiring an additional 794,253 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Energy Vault by 44.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 889,493 shares of the company’s stock valued at $2,028,000 after acquiring an additional 272,465 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of Energy Vault in the 4th quarter valued at approximately $598,000. 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.