Chardan Capital Reaffirms Sell Rating for Energy Vault (NYSE:NRGV)

Energy Vault (NYSE:NRGV)‘s stock had its “sell” rating reissued by stock analysts at Chardan Capital in a report released on Monday, StockNewsAPI reports.

A number of other analysts also recently commented on NRGV. Roth Capital reaffirmed a “buy” rating on shares of Energy Vault in a research report on Tuesday, January 16th. The Goldman Sachs Group lowered their price objective on Energy Vault from $1.70 to $1.50 and set a “sell” rating on the stock in a research report on Friday, March 22nd. TD Cowen lowered their price target on Energy Vault from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 13th. Finally, Roth Mkm began coverage on Energy Vault in a report on Tuesday, January 16th. They issued a “buy” rating and a $4.00 price objective on the stock. Two research analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $4.38.

Energy Vault Price Performance

Shares of Energy Vault stock opened at $1.73 on Monday. Energy Vault has a one year low of $1.35 and a one year high of $3.55. The stock’s 50-day moving average is $1.72 and its 200 day moving average is $2.05. The firm has a market cap of $254.45 million, a price-to-earnings ratio of -2.54 and a beta of 0.58.

Energy Vault (NYSE:NRGV) last issued its quarterly earnings data on Tuesday, March 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.05). The company had revenue of $118.24 million during the quarter, compared to analysts’ expectations of $122.05 million. Energy Vault had a negative return on equity of 40.42% and a negative net margin of 28.82%. On average, sell-side analysts expect that Energy Vault will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling

In other Energy Vault news, CMO Laurence Alexander sold 20,385 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $1.64, for a total transaction of $33,431.40. Following the completion of the sale, the chief marketing officer now directly owns 897,123 shares in the company, valued at approximately $1,471,281.72. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders sold a total of 77,889 shares of company stock worth $128,003 in the last three months. Insiders own 20.00% of the company’s stock.

Institutional Investors Weigh In On Energy Vault

Hedge funds have recently modified their holdings of the business. DekaBank Deutsche Girozentrale bought a new stake in shares of Energy Vault during the 3rd quarter valued at $25,000. Cerity Partners LLC bought a new position in Energy Vault in the 1st quarter worth $29,000. Royal Bank of Canada boosted its holdings in Energy Vault by 144.8% in the 2nd quarter. Royal Bank of Canada now owns 11,229 shares of the company’s stock worth $31,000 after buying an additional 6,642 shares during the period. HighTower Advisors LLC bought a new position in Energy Vault in the 4th quarter worth $31,000. Finally, Bleakley Financial Group LLC bought a new position in Energy Vault in the 4th quarter worth $33,000. Institutional investors 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.