Roth Mkm Has Lowered Expectations for Energy Vault (NYSE:NRGV) Stock Price

Energy Vault (NYSE:NRGV) had its target price lowered by stock analysts at Roth Mkm from $2.50 to $1.50 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Roth Mkm’s target price indicates a potential upside of 60.26% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. TD Cowen dropped their target price on Energy Vault from $2.50 to $2.00 and set a “buy” rating for the company in a report on Tuesday. The Goldman Sachs Group cut their price objective on shares of Energy Vault from $1.00 to $0.75 and set a “sell” rating for the company in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. According to data from MarketBeat, Energy Vault presently has an average rating of “Hold” and a consensus price target of $1.60.

Energy Vault Price Performance

Shares of NRGV traded down $0.06 during mid-day trading on Thursday, hitting $0.94. 903,811 shares of the company’s stock were exchanged, compared to its average volume of 991,370. The company has a market cap of $142.38 million, a PE ratio of -1.44 and a beta of 0.45. Energy Vault has a 52 week low of $0.78 and a 52 week high of $2.70. The company has a 50-day simple moving average of $1.59 and a 200 day simple moving average of $1.56.

Energy Vault (NYSE:NRGV) last announced its quarterly earnings data on Monday, March 17th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.21). The firm had revenue of $38.95 million during 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%. On average, analysts anticipate that Energy Vault will post -0.64 earnings per share for the current year.

Hedge Funds Weigh In On Energy Vault

Several institutional investors have recently made changes to their positions in the stock. Invesco Ltd. lifted its stake in shares of Energy Vault by 15,519.9% in the fourth quarter. Invesco Ltd. now owns 2,675,226 shares of the company’s stock valued at $6,100,000 after buying an additional 2,658,099 shares in the last quarter. CastleKnight Management LP bought a new position in Energy Vault in the 4th quarter valued at about $2,752,000. Millennium Management LLC boosted its stake in Energy Vault by 122.5% during the 4th quarter. Millennium Management LLC now owns 1,442,399 shares of the company’s stock valued at $3,289,000 after purchasing an additional 794,253 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Energy Vault by 44.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 889,493 shares of the company’s stock worth $2,028,000 after purchasing an additional 272,465 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in Energy Vault in the 4th quarter valued at $598,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

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.