Energy Vault Holdings, Inc. (NYSE:NRGV) Receives Average Recommendation of “Hold” from Brokerages

Energy Vault Holdings, Inc. (NYSE:NRGV) has been assigned an average rating of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $2.85.

A number of equities analysts have weighed in on NRGV shares. The Goldman Sachs Group decreased their target price on Energy Vault from $1.70 to $1.50 and set a “sell” rating on the stock in a research note on Friday, March 22nd. TD Cowen lowered their target price on shares of Energy Vault from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 13th. Chardan Capital reissued a “sell” rating and issued a $0.75 price target (down previously from $7.00) on shares of Energy Vault in a research note on Monday, April 8th. Roth Capital restated a “buy” rating on shares of Energy Vault in a research report on Tuesday, January 16th. Finally, Stifel Nicolaus dropped their price objective on shares of Energy Vault from $6.00 to $3.00 and set a “buy” rating for the company in a report on Tuesday, April 30th.

Energy Vault Stock Performance

NRGV stock opened at $1.46 on Tuesday. The firm has a 50 day moving average of $1.54 and a 200-day moving average of $1.88. Energy Vault has a 12 month low of $1.05 and a 12 month high of $3.55.

Energy Vault (NYSE:NRGV) last announced its quarterly earnings results on Tuesday, March 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.05). The firm had revenue of $118.24 million during the quarter, compared to the consensus estimate of $122.05 million. Energy Vault had a negative net margin of 28.82% and a negative return on equity of 40.42%. On average, analysts anticipate that Energy Vault will post -0.41 earnings per share for the current fiscal year.

Insider Transactions at Energy Vault

In related news, CMO Laurence Alexander sold 20,385 shares of Energy Vault stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $1.64, for a total value of $33,431.40. Following the transaction, the chief marketing officer now owns 897,123 shares in the company, valued at approximately $1,471,281.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 93,506 shares of company stock worth $144,409. 19.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Energy Vault

A number of large investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Energy Vault by 17.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 242,541 shares of the company’s stock worth $434,000 after buying an additional 35,935 shares during the period. Mesirow Financial Investment Management Inc. purchased a new position in shares of Energy Vault in the first quarter valued at about $107,000. Sapient Capital LLC increased its position in shares of Energy Vault by 14.0% in the first quarter. Sapient Capital LLC now owns 243,939 shares of the company’s stock valued at $437,000 after acquiring an additional 30,000 shares during the period. CenterBook Partners LP bought a new position in shares of Energy Vault during the fourth quarter valued at about $260,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Energy Vault by 1,465.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 36,340 shares of the company’s stock worth $85,000 after purchasing an additional 34,019 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

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.