Energy Vault (NYSE:NRGV) Trading Down 3.4%

Energy Vault Holdings, Inc. (NYSE:NRGVGet Rating)’s share price traded down 3.4% during trading on Friday . The stock traded as low as $4.14 and last traded at $4.20. 14,158 shares traded hands during trading, a decline of 100% from the average session volume of 2,866,929 shares. The stock had previously closed at $4.35.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NRGV shares. Guggenheim decreased their price target on shares of Energy Vault from $10.00 to $7.00 in a report on Tuesday, November 15th. The Goldman Sachs Group raised their price objective on shares of Energy Vault from $2.50 to $3.00 and gave the stock a “sell” rating in a report on Friday. Finally, Cowen reduced their price objective on shares of Energy Vault to $9.00 in a research note on Thursday, November 17th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $10.42.

Energy Vault Trading Down 2.1 %

The stock’s fifty day moving average price is $3.41 and its two-hundred day moving average price is $4.43.

Energy Vault (NYSE:NRGVGet Rating) last announced its quarterly earnings results on Monday, November 14th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.11). The business had revenue of $1.69 million for the quarter, compared to analysts’ expectations of $10.00 million. On average, research analysts forecast that Energy Vault Holdings, Inc. will post -0.23 earnings per share for the current year.

Insider Buying and Selling at Energy Vault

In related news, Director William Gross sold 16,250 shares of the firm’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 in the company, valued at $5,802,161.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 26.80% of the company’s stock.

Hedge Funds Weigh In On Energy Vault

A number of large investors have recently modified their holdings of NRGV. Goldman Sachs Group Inc. lifted its holdings in shares of Energy Vault by 8.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 36,400 shares of the company’s stock worth $365,000 after acquiring an additional 2,873 shares during the last quarter. Penserra Capital Management LLC bought a new position in Energy Vault in the 1st quarter worth about $57,000. Alliancebernstein L.P. boosted its stake in Energy Vault by 42.1% in the 3rd quarter. Alliancebernstein L.P. now owns 16,200 shares of the company’s stock worth $86,000 after purchasing an additional 4,800 shares in the last quarter. Strs Ohio bought a new position in Energy Vault in the 2nd quarter worth about $59,000. Finally, Amalgamated Bank lifted its stake in Energy Vault by 158.1% during the 3rd quarter. Amalgamated Bank now owns 10,263 shares of the company’s stock valued at $54,000 after acquiring an additional 6,286 shares during the period. 36.38% of the stock is currently owned by institutional investors.

Energy Vault Company Profile

(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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