Energy Vault Holdings, Inc. (NYSE:NRGV) Receives Consensus Rating of “Hold” from Analysts

Energy Vault Holdings, Inc. (NYSE:NRGV) has been given an average recommendation of “Hold” by the six ratings firms that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $2.6725.

A number of equities research analysts have commented on NRGV shares. Zacks Research cut shares of Energy Vault from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Fundamental Research set a $5.19 price objective on shares of Energy Vault and gave the stock a “buy” rating in a research report on Tuesday, November 18th. The Goldman Sachs Group boosted their target price on Energy Vault from $1.50 to $2.00 and gave the company a “sell” rating in a research report on Wednesday, November 12th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Energy Vault in a report on Tuesday, October 14th.

Energy Vault Trading Up 3.4%

Shares of NRGV stock opened at $4.27 on Friday. Energy Vault has a fifty-two week low of $0.60 and a fifty-two week high of $4.85. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 0.63. The stock has a 50 day simple moving average of $3.43 and a two-hundred day simple moving average of $2.08. The company has a market cap of $716.63 million, a P/E ratio of -4.50 and a beta of 0.95.

Energy Vault (NYSE:NRGV) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.06). The company had revenue of $33.32 million for the quarter, compared to analyst estimates of $48.99 million. Energy Vault had a negative return on equity of 119.98% and a negative net margin of 172.61%. Research analysts forecast that Energy Vault will post -0.64 earnings per share for the current year.

Insider Transactions at Energy Vault

In other Energy Vault news, insider Akshay Ladwa sold 75,000 shares of the business’s stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $3.11, for a total transaction of $233,250.00. Following the completion of the sale, the insider owned 1,934,582 shares in the company, valued at approximately $6,016,550.02. The trade was a 3.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Robert Piconi acquired 50,000 shares of the company’s stock in a transaction on Wednesday, September 17th. The stock was acquired at an average cost of $2.30 per share, for a total transaction of $115,000.00. Following the completion of the purchase, the chief executive officer directly owned 20,182,384 shares of the company’s stock, valued at approximately $46,419,483.20. This represents a 0.25% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have bought 77,500 shares of company stock valued at $197,850 and have sold 200,000 shares valued at $584,000. 15.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Energy Vault

Institutional investors and hedge funds have recently made changes to their positions in the business. Private Capital Advisors Inc. grew its position in shares of Energy Vault by 41.0% during the 2nd quarter. Private Capital Advisors Inc. now owns 687,260 shares of the company’s stock valued at $493,000 after acquiring an additional 200,000 shares during the period. Nuveen LLC purchased a new position in Energy Vault in the first quarter valued at approximately $190,000. Y Intercept Hong Kong Ltd purchased a new position in Energy Vault in the second quarter valued at approximately $156,000. Mesirow Financial Investment Management Inc. grew its holdings in Energy Vault by 19.0% during the second quarter. Mesirow Financial Investment Management Inc. now owns 125,000 shares of the company’s stock valued at $90,000 after purchasing an additional 20,000 shares during the period. Finally, Catalyst Funds Management Pty Ltd purchased a new stake in Energy Vault in the second quarter worth $36,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

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.