Energy Vault Holdings, Inc. (NYSE:NRGV) Receives $1.95 Average Target Price from Analysts

Energy Vault Holdings, Inc. (NYSE:NRGV) has been assigned a consensus rating of “Hold” from the six analysts that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $1.95.

Separately, TD Cowen restated a “buy” rating and set a $2.50 price objective on shares of Energy Vault in a report on Wednesday, November 13th.

Insider Buying and Selling

In other news, CEO Robert Piconi purchased 150,000 shares of Energy Vault stock in a transaction dated Friday, November 22nd. The shares were bought at an average cost of $1.57 per share, with a total value of $235,500.00. Following the completion of the transaction, the chief executive officer now directly owns 17,623,361 shares in the company, valued at $27,668,676.77. This trade represents a 0.86 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 19.80% of the stock is owned by insiders.

Institutional Trading of Energy Vault

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Energy Vault by 2.7% in the first quarter. Vanguard Group Inc. now owns 1,675,361 shares of the company’s stock worth $2,999,000 after acquiring an additional 43,764 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Energy Vault by 21.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 341,909 shares of the company’s stock worth $325,000 after purchasing an additional 61,135 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its holdings in Energy Vault by 33.3% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 80,000 shares of the company’s stock worth $76,000 after buying an additional 20,000 shares during the period. XTX Topco Ltd boosted its holdings in shares of Energy Vault by 684.0% in the second quarter. XTX Topco Ltd now owns 173,016 shares of the company’s stock valued at $164,000 after buying an additional 150,948 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of Energy Vault by 95.5% during the third quarter. SG Americas Securities LLC now owns 35,601 shares of the company’s stock worth $34,000 after acquiring an additional 17,388 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Energy Vault Stock Down 2.9 %

NYSE:NRGV opened at $1.85 on Wednesday. Energy Vault has a 12 month low of $0.78 and a 12 month high of $2.68. The company’s 50 day moving average is $1.66 and its 200-day moving average is $1.25. The firm has a market cap of $280.66 million, a price-to-earnings ratio of -2.84 and a beta of 0.49.

Energy Vault (NYSE:NRGV) last released its earnings results on Tuesday, November 12th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.03). The firm had revenue of $1.20 million for the quarter, compared to analyst estimates of $4.80 million. Energy Vault had a negative return on equity of 47.41% and a negative net margin of 73.37%. During the same period in the prior year, the firm earned ($0.13) EPS. Research analysts predict that Energy Vault will post -0.64 EPS for the current fiscal year.

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.