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

Shares of Energy Vault Holdings, Inc. (NYSE:NRGV) have earned an average recommendation of “Hold” from the six analysts that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating and four have given a buy rating 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 reissued a “buy” rating and set a $2.50 price target on shares of Energy Vault in a report on Wednesday, November 13th.

Energy Vault Trading Down 3.2 %

Shares of NRGV stock opened at $1.84 on Wednesday. Energy Vault has a twelve month low of $0.78 and a twelve month high of $2.68. The business’s 50 day moving average is $1.66 and its two-hundred day moving average is $1.25. The company has a market capitalization of $279.90 million, a P/E ratio of -2.83 and a beta of 0.49.

Energy Vault (NYSE:NRGV) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.03). The firm had revenue of $1.20 million during the quarter, compared to analyst estimates 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 in the prior year, the firm posted ($0.13) earnings per share. As a group, equities analysts predict that Energy Vault will post -0.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Robert Piconi purchased 150,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were acquired at an average price of $1.57 per share, for a total transaction of $235,500.00. Following the acquisition, the chief executive officer now directly owns 17,623,361 shares in the company, valued at approximately $27,668,676.77. The trade was a 0.86 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 19.80% of the company’s stock.

Institutional Trading of Energy Vault

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Energy Vault by 2.7% in the first quarter. Vanguard Group Inc. now owns 1,675,361 shares of the company’s stock valued at $2,999,000 after purchasing an additional 43,764 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Energy Vault by 21.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 341,909 shares of the company’s stock worth $325,000 after purchasing an additional 61,135 shares during the last quarter. Mesirow Financial Investment Management Inc. lifted its stake in Energy Vault by 33.3% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 80,000 shares of the company’s stock valued at $76,000 after buying an additional 20,000 shares in the last quarter. 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 buying an additional 150,948 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in Energy Vault by 95.5% during the 3rd quarter. SG Americas Securities LLC now owns 35,601 shares of the company’s stock valued at $34,000 after buying an additional 17,388 shares during the last quarter. 40.03% of the stock is currently 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.