Energy Vault’s (NRGV) “Buy” Rating Reiterated at TD Cowen

TD Cowen reissued their buy rating on shares of Energy Vault (NYSE:NRGV) in a research note published on Wednesday,Benzinga reports. TD Cowen currently has a $2.50 target price on the stock.

Separately, Roth Mkm reduced their target price on shares of Energy Vault from $2.50 to $2.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $1.95.

Energy Vault Trading Down 12.0 %

Shares of Energy Vault stock opened at $1.46 on Wednesday. The firm has a market capitalization of $219.71 million, a price-to-earnings ratio of -2.25 and a beta of 0.45. The firm’s 50 day simple moving average is $1.33 and its two-hundred day simple moving average is $1.18. Energy Vault has a 12-month low of $0.78 and a 12-month high of $2.69.

Energy Vault (NYSE:NRGV) last released its quarterly 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). Energy Vault had a negative return on equity of 47.41% and a negative net margin of 73.37%. The business had revenue of $1.20 million for the quarter, compared to analysts’ expectations of $4.80 million. During the same quarter in the prior year, the company posted ($0.13) earnings per share. On average, sell-side analysts predict that Energy Vault will post -0.6 EPS for the current fiscal year.

Institutional Trading of Energy Vault

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. DRW Securities LLC acquired a new position in shares of Energy Vault in the third quarter worth $31,000. SG Americas Securities LLC boosted its stake in shares of Energy Vault by 95.5% during 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 last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Energy Vault in the first quarter valued at approximately $91,000. Mesirow Financial Investment Management Inc. boosted its position in Energy Vault by 33.3% during the second quarter. Mesirow Financial Investment Management Inc. now owns 80,000 shares of the company’s stock worth $76,000 after acquiring an additional 20,000 shares during the last quarter. Finally, Barclays PLC raised its holdings in Energy Vault by 225.2% in 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 last quarter. 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.