Energy Vault (NYSE:NRGV) Shares Gap Down to $4.35

Energy Vault Holdings, Inc. (NYSE:NRGVGet Rating)’s share price gapped down before the market opened on Friday . The stock had previously closed at $4.35, but opened at $4.11. Energy Vault shares last traded at $4.37, with a volume of 6,197 shares.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Chardan Capital assumed coverage on shares of Energy Vault in a research note on Wednesday, June 29th. They set a “buy” rating and a $13.00 price objective on the stock. Cowen lowered their price objective on shares of Energy Vault from $18.00 to $11.50 in a research note on Tuesday, August 9th. The Goldman Sachs Group reduced their target price on shares of Energy Vault from $7.00 to $5.00 and set a “sell” rating for the company in a report on Tuesday, August 9th. Guggenheim lifted their target price on shares of Energy Vault to $15.00 in a report on Monday, August 15th. Finally, Cowen reduced their target price on shares of Energy Vault to $11.50 in a report on Monday, August 15th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Energy Vault currently has a consensus rating of “Moderate Buy” and an average target price of $12.50.

Energy Vault Stock Up 2.8 %

The stock’s fifty day simple moving average is $5.30 and its 200-day simple moving average is $10.11.

Energy Vault (NYSE:NRGVGet Rating) last posted its quarterly earnings data on Monday, August 8th. The company reported ($0.14) earnings per share (EPS) for the quarter. The business had revenue of $0.98 million for the quarter, compared to analysts’ expectations of $5.00 million. On average, equities research analysts expect that Energy Vault Holdings, Inc. will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Energy Vault

In other Energy Vault news, CEO Robert Piconi acquired 18,954 shares of the business’s stock in a transaction on Thursday, August 18th. The stock was purchased at an average price of $5.26 per share, with a total value of $99,698.04. Following the acquisition, the chief executive officer now directly owns 6,318,342 shares of the company’s stock, valued at approximately $33,234,478.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Hedge Funds Weigh In On Energy Vault

Several hedge funds and other institutional investors have recently made changes to their positions in NRGV. Koshinski Asset Management Inc. acquired a new position in shares of Energy Vault in the 1st quarter valued at approximately $32,000. Penserra Capital Management LLC acquired a new position in Energy Vault during the 1st quarter worth approximately $57,000. Strs Ohio acquired a new position in Energy Vault during the 2nd quarter worth approximately $59,000. American International Group Inc. acquired a new position in Energy Vault during the 2nd quarter worth approximately $118,000. Finally, Arizona State Retirement System acquired a new position in Energy Vault during the 2nd quarter worth approximately $145,000. 29.83% of the stock is currently owned by institutional investors and hedge funds.

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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