Energy Vault (NYSE:NRGV) PT Lowered to $9.00

Energy Vault (NYSE:NRGVGet Rating) had its price objective decreased by equities research analysts at Cowen to $9.00 in a research report issued on Thursday, Stock Target Advisor reports. Cowen’s target price would indicate a potential upside of 138.10% from the company’s previous close.

A number of other equities analysts have also recently issued reports on NRGV. The Goldman Sachs Group dropped their price target on shares of Energy Vault from $4.50 to $3.00 and set a “sell” rating on the stock in a research note on Wednesday. Guggenheim decreased their target price on Energy Vault from $10.00 to $7.00 in a research report on Tuesday. Finally, Cowen decreased their target price on Energy Vault from $18.00 to $11.50 in a research report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.42.

Energy Vault Trading Down 6.0 %

Shares of Energy Vault stock opened at $3.78 on Thursday. The firm’s 50-day moving average is $4.31 and its 200 day moving average is $7.03. Energy Vault has a 1 year low of $2.80 and a 1 year high of $22.10.

Insiders Place Their Bets

In other news, Director William Gross sold 16,250 shares of the company’s stock in a transaction dated 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 sale, the director now owns 1,607,247 shares of the company’s stock, valued at approximately $5,802,161.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director William Gross sold 16,250 shares of the company’s stock in a transaction dated 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 sale, the director now owns 1,607,247 shares of the company’s stock, valued at approximately $5,802,161.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Piconi purchased 9,400 shares of Energy Vault stock in a transaction dated Tuesday, August 23rd. The shares were acquired at an average cost of $5.22 per share, with a total value of $49,068.00. Following the transaction, the chief executive officer now directly owns 6,327,742 shares in the company, valued at $33,030,813.24. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 128,750 shares of company stock valued at $563,475. 26.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Energy Vault

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SB Investment Advisers UK Ltd. purchased a new stake in Energy Vault in the 2nd quarter worth approximately $185,727,000. Prime Movers Lab LLC increased its holdings in Energy Vault by 1.2% in the 3rd quarter. Prime Movers Lab LLC now owns 7,552,864 shares of the company’s stock worth $35,891,000 after acquiring an additional 90,500 shares in the last quarter. SailingStone Capital Partners LLC increased its holdings in Energy Vault by 8.2% in the 3rd quarter. SailingStone Capital Partners LLC now owns 4,189,012 shares of the company’s stock worth $22,076,000 after acquiring an additional 316,538 shares in the last quarter. BlackRock Inc. increased its holdings in Energy Vault by 74.7% in the 3rd quarter. BlackRock Inc. now owns 3,555,639 shares of the company’s stock worth $18,775,000 after acquiring an additional 1,520,546 shares in the last quarter. Finally, Invesco Ltd. purchased a new stake in Energy Vault in the 1st quarter worth approximately $21,416,000. 29.83% of the stock is owned by hedge funds and other institutional investors.

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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