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

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

Separately, TD Cowen reiterated a “buy” rating and issued a $2.50 price target on shares of Energy Vault in a research note on Wednesday, November 13th.

Insider Buying and Selling

In related news, CEO Robert Piconi acquired 150,000 shares of Energy Vault stock in a transaction on 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 purchase, the chief executive officer now directly owns 17,623,361 shares of the company’s stock, valued at $27,668,676.77. The trade was a 0.86 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 19.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Energy Vault

Several large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its stake in Energy Vault by 21.8% during the second quarter. Bank of New York Mellon Corp now owns 341,909 shares of the company’s stock worth $325,000 after buying an additional 61,135 shares during the period. Mesirow Financial Investment Management Inc. boosted its stake in shares of 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 purchasing an additional 20,000 shares during the period. XTX Topco Ltd grew its holdings in Energy Vault by 684.0% during the 2nd quarter. XTX Topco Ltd now owns 173,016 shares of the company’s stock valued at $164,000 after purchasing an additional 150,948 shares during the last quarter. SG Americas Securities LLC raised its position in Energy Vault by 95.5% in the 3rd quarter. SG Americas Securities LLC now owns 35,601 shares of the company’s stock worth $34,000 after purchasing an additional 17,388 shares during the period. Finally, Green Alpha Advisors LLC lifted its stake in Energy Vault by 62.3% in the third quarter. Green Alpha Advisors LLC now owns 158,171 shares of the company’s stock worth $152,000 after purchasing an additional 60,725 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Energy Vault Stock Down 11.9 %

NYSE NRGV opened at $1.93 on Friday. Energy Vault has a twelve month low of $0.78 and a twelve month high of $2.69. The business has a 50-day moving average price of $1.91 and a 200-day moving average price of $1.38. The firm has a market cap of $293.59 million, a price-to-earnings ratio of -2.97 and a beta of 0.44.

Energy Vault (NYSE:NRGV) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.03). 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 return on equity of 47.41% and a negative net margin of 73.37%. During the same quarter in the previous year, the company earned ($0.13) earnings per share. Research analysts expect that Energy Vault will post -0.64 EPS for the current fiscal year.

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.