Energy Vault (NYSE:NRGV) Price Target Lowered to $3.00 at Stifel Nicolaus

Energy Vault (NYSE:NRGV) had its target price lowered by Stifel Nicolaus from $6.00 to $3.00 in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts also recently commented on the stock. Chardan Capital reissued a sell rating and set a $0.75 price target (down from $7.00) on shares of Energy Vault in a research note on Monday, April 8th. TD Cowen cut 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 report on Wednesday, March 13th. Roth Mkm assumed coverage on Energy Vault in a report on Tuesday, January 16th. They issued a buy rating and a $4.00 price objective on the stock. The Goldman Sachs Group dropped their target price on Energy Vault from $1.70 to $1.50 and set a sell rating for the company in a report on Friday, March 22nd. Finally, Roth Capital reaffirmed a buy rating on shares of Energy Vault in a research note on Tuesday, January 16th. Two analysts have 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 Hold and an average price target of $2.85.

Energy Vault Stock Performance

NYSE NRGV opened at $1.27 on Tuesday. Energy Vault has a 52-week low of $1.05 and a 52-week high of $3.55. The company has a fifty day moving average of $1.56 and a 200-day moving average of $1.90. The company has a market capitalization of $186.79 million, a P/E ratio of -1.87 and a beta of 0.71.

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

Insider Activity at Energy Vault

In other Energy Vault 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 owns 897,123 shares in the company, valued at approximately $1,471,281.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold a total of 77,966 shares of company stock worth $124,984 in the last 90 days. Company insiders own 19.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in shares of Energy Vault during the third quarter valued at about $107,000. Bank of New York Mellon Corp grew its holdings in shares of Energy Vault by 2.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 292,520 shares of the company’s stock worth $746,000 after acquiring an additional 7,853 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Energy Vault in the 3rd quarter worth approximately $539,000. Pathstone Family Office LLC lifted its stake in shares of Energy Vault by 24.4% in the 3rd quarter. Pathstone Family Office LLC now owns 53,028 shares of the company’s stock valued at $135,000 after purchasing an additional 10,414 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Energy Vault during the third quarter valued at approximately $25,000. 40.03% of the stock is currently owned by institutional investors.

About Energy Vault

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.