Energy Vault (NYSE:NRGV) Price Target Lowered to $2.00 at TD Cowen

Energy Vault (NYSE:NRGV) had its target price reduced by TD Cowen from $2.50 to $2.00 in a report published on Tuesday, Marketbeat reports. TD Cowen currently has a buy rating on the stock.

Energy Vault Price Performance

NYSE NRGV opened at $0.91 on Tuesday. The company has a fifty day moving average of $1.56 and a two-hundred day moving average of $1.56. Energy Vault has a 1 year low of $0.78 and a 1 year high of $2.70. The company has a market capitalization of $138.58 million, a PE ratio of -1.40 and a beta of 0.45.

Energy Vault (NYSE:NRGV) last announced its earnings results 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 firm had revenue of $38.95 million during the quarter, compared to analyst estimates 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, research analysts expect that Energy Vault will post -0.64 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Invesco Ltd. grew its holdings in shares of Energy Vault by 15,519.9% during the fourth quarter. Invesco Ltd. now owns 2,675,226 shares of the company’s stock worth $6,100,000 after buying an additional 2,658,099 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Energy Vault by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 2,322,871 shares of the company’s stock worth $5,297,000 after purchasing an additional 49,829 shares during the period. State Street Corp grew its position in Energy Vault by 1.1% in the 3rd quarter. State Street Corp now owns 1,850,702 shares of the company’s stock valued at $1,777,000 after buying an additional 20,915 shares during the last quarter. Millennium Management LLC increased its stake in Energy Vault by 122.5% in the 4th quarter. Millennium Management LLC now owns 1,442,399 shares of the company’s stock valued at $3,289,000 after buying an additional 794,253 shares during the period. Finally, CastleKnight Management LP purchased a new position in Energy Vault during the 4th quarter worth $2,752,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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.