Energy Vault (NYSE:NRGV) Given New $3.00 Price Target at Stifel Nicolaus

Energy Vault (NYSE:NRGV) had its price objective trimmed by Stifel Nicolaus from $6.00 to $3.00 in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts also recently weighed in on NRGV. TD Cowen decreased their price target on shares of Energy Vault from $6.00 to $5.00 and set an outperform rating for the company in a research note on Wednesday, March 13th. Chardan Capital reaffirmed a sell rating and issued a $0.75 target price (down from $7.00) on shares of Energy Vault in a research report on Monday, April 8th. The Goldman Sachs Group cut their price target on Energy Vault from $1.70 to $1.50 and set a sell rating on the stock in a report on Friday, March 22nd. Roth Mkm started coverage on Energy Vault in a report on Tuesday, January 16th. They set a buy rating and a $4.00 price objective for the company. Finally, Roth Capital reiterated a buy rating on shares of Energy Vault in a report on Tuesday, January 16th. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $2.85.

Energy Vault Trading Down 2.3 %

NRGV stock opened at $1.27 on Tuesday. Energy Vault has a 1-year low of $1.05 and a 1-year high of $3.55. The stock has a 50-day moving average price of $1.58 and a 200-day moving average price of $1.92. The firm has a market cap of $186.79 million, a PE ratio of -1.87 and a beta of 0.58.

Energy Vault (NYSE:NRGV) last issued its earnings results on Tuesday, March 12th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05). The business had revenue of $118.24 million during the quarter, compared to the consensus estimate 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, analysts forecast that Energy Vault will post -0.34 earnings per share for the current year.

Insider Buying and Selling at Energy Vault

In other news, CMO Laurence Alexander sold 20,385 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $1.64, for a total value of $33,431.40. Following the completion of the sale, the chief marketing officer now directly owns 897,123 shares of the company’s stock, valued at $1,471,281.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 77,966 shares of company stock worth $124,984. Insiders own 19.80% of the company’s stock.

Institutional Trading of Energy Vault

Institutional investors have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale bought a new position in shares of Energy Vault during the third quarter valued at about $25,000. International Assets Investment Management LLC purchased a new stake in Energy Vault in the 4th quarter valued at about $270,000. Bleakley Financial Group LLC bought a new position in shares of Energy Vault during the 4th quarter worth approximately $33,000. Simplicity Solutions LLC purchased a new position in shares of Energy Vault in the 4th quarter worth approximately $33,000. Finally, Alpine Global Management LLC bought a new position in shares of Energy Vault in the third quarter valued at approximately $38,000. 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.