Energy Vault (NYSE:NRGV) Issues Quarterly Earnings Results

Energy Vault (NYSE:NRGV) posted its quarterly earnings results on Tuesday. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.03), Zacks reports. The business had revenue of $1.20 million during the quarter, compared to the consensus estimate of $4.80 million. Energy Vault had a negative net margin of 73.37% and a negative return on equity of 47.41%. During the same period last year, the firm earned ($0.13) EPS.

Energy Vault Stock Down 8.1 %

Shares of NYSE NRGV traded down $0.14 during trading hours on Friday, reaching $1.53. 599,465 shares of the stock traded hands, compared to its average volume of 839,680. The company has a market capitalization of $229.48 million, a P/E ratio of -2.38 and a beta of 0.45. The company’s 50-day simple moving average is $1.32 and its two-hundred day simple moving average is $1.18. Energy Vault has a 52-week low of $0.78 and a 52-week high of $2.69.

Analysts Set New Price Targets

A number of analysts recently issued reports on NRGV shares. TD Cowen reiterated a “buy” rating and set a $2.50 price objective on shares of Energy Vault in a research note on Wednesday. Roth Mkm cut their price objective on Energy Vault from $2.50 to $2.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $1.95.

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.