Energy Vault (NYSE:NRGV) Shares Gap Up to $3.56

Shares of Energy Vault Holdings, Inc. (NYSE:NRGVGet Rating) gapped up before the market opened on Wednesday . The stock had previously closed at $3.56, but opened at $3.73. Energy Vault shares last traded at $4.72, with a volume of 38,411 shares traded.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NRGV shares. Cowen decreased their price target on shares of Energy Vault to $9.00 in a research report on Thursday, November 17th. The Goldman Sachs Group decreased their price objective on shares of Energy Vault from $3.00 to $2.50 and set a “sell” rating for the company in a report on Tuesday, December 20th. Finally, Guggenheim decreased their price objective on shares of Energy Vault from $10.00 to $7.00 in a report on Tuesday, November 15th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $10.33.

Energy Vault Stock Down 9.4 %

The business’s fifty day simple moving average is $3.39 and its 200 day simple moving average is $4.48.

Energy Vault (NYSE:NRGVGet Rating) last announced its quarterly earnings results on Monday, November 14th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.11). The firm had revenue of $1.69 million for the quarter, compared to the consensus estimate of $10.00 million. Equities analysts forecast that Energy Vault Holdings, Inc. will post -0.23 EPS for the current year.

Insider Activity

In other news, Director William Gross sold 16,250 shares of the business’s stock in a transaction on Monday, October 24th. The shares were sold at an average price of $3.61, for a total transaction of $58,662.50. Following the completion of the transaction, the director now owns 1,607,247 shares of the company’s stock, valued at $5,802,161.67. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 26.80% of the company’s stock.

Hedge Funds Weigh In On Energy Vault

Several hedge funds and other institutional investors have recently modified their holdings of the company. SB Investment Advisers UK Ltd. bought a new stake in shares of Energy Vault during the second quarter valued at about $185,727,000. Prime Movers Lab LLC raised its stake in shares of Energy Vault by 1.2% during the third quarter. Prime Movers Lab LLC now owns 7,552,864 shares of the company’s stock valued at $35,891,000 after purchasing an additional 90,500 shares in the last quarter. SailingStone Capital Partners LLC raised its stake in shares of Energy Vault by 8.2% during the third quarter. SailingStone Capital Partners LLC now owns 4,189,012 shares of the company’s stock valued at $22,076,000 after purchasing an additional 316,538 shares in the last quarter. BlackRock Inc. raised its stake in shares of Energy Vault by 74.7% during the third quarter. BlackRock Inc. now owns 3,555,639 shares of the company’s stock valued at $18,775,000 after purchasing an additional 1,520,546 shares in the last quarter. Finally, Invesco Ltd. bought a new stake in shares of Energy Vault during the first quarter valued at about $21,416,000. Institutional investors and hedge funds own 36.38% of the company’s stock.

About Energy Vault

(Get Rating)

Energy Vault Holdings, Inc develops and sells energy storage solutions. The company offers gravity-based storage systems, including EVx Platform, a scalable, modular product line starting from 40-megawatt hour to multi-gigawatt hours to address grid resiliency needs in shorter durations; Energy Vault Resiliency Center, a scalable, gigawatt hour scale product line designed to address grid resiliency needs to manage energy disruptive climate events; and Energy Vault solutions.

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