Energy Vault (NYSE:NRGV) Price Target Cut to $0.75 by Analysts at The Goldman Sachs Group

Energy Vault (NYSE:NRGV) had its target price trimmed by The Goldman Sachs Group from $1.00 to $0.75 in a report released on Wednesday,Benzinga reports. The firm currently has a sell rating on the stock.

Separately, TD Cowen decreased their price objective on shares of Energy Vault from $2.50 to $2.00 and set a “buy” rating on the stock in a research report on Tuesday. Two analysts have rated the stock with a sell rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $1.70.

Energy Vault Stock Performance

NYSE:NRGV opened at $1.01 on Wednesday. The stock has a 50-day simple moving average of $1.59 and a two-hundred day simple moving average of $1.56. The firm has a market capitalization of $152.88 million, a PE ratio of -1.55 and a beta of 0.45. Energy Vault has a 52-week low of $0.78 and a 52-week high of $2.70.

Energy Vault (NYSE:NRGV) last announced its quarterly earnings data on Monday, March 17th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.21). The company had revenue of $38.95 million for the quarter, compared to the consensus estimate of $42.51 million. Energy Vault had a negative net margin of 73.37% and a negative return on equity of 47.41%. Equities analysts forecast that Energy Vault will post -0.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NRGV. DRW Securities LLC bought a new stake in shares of Energy Vault during the third quarter valued at approximately $31,000. State Street Corp boosted its stake in Energy Vault by 1.1% during the third quarter. State Street Corp now owns 1,850,702 shares of the company’s stock worth $1,777,000 after buying an additional 20,915 shares during the period. Barclays PLC boosted its holdings in Energy Vault by 225.2% during the 3rd quarter. Barclays PLC now owns 143,759 shares of the company’s stock valued at $137,000 after acquiring an additional 99,550 shares during the period. Geode Capital Management LLC grew its position in Energy Vault by 8.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,273,042 shares of the company’s stock valued at $2,182,000 after acquiring an additional 177,214 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in Energy Vault by 22.5% in the fourth quarter. SG Americas Securities LLC now owns 43,600 shares of the company’s stock worth $99,000 after purchasing an additional 7,999 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

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.