Energy Vault Holdings, Inc. (NYSE:NRGV) Stock Has Average Price Target of $6.01

Key Points

• Analyst consensus is “Hold” for Energy Vault, with two sell, one hold, and four buy ratings. The average 12-month price target is $6.01, with recent targets ranging from $6.00 to $8.03.
• Energy Vault shares opened at $3.88, compared with a 52-week range of $2.50 to $6.64. The company reported quarterly revenue of $17.37 million, above estimates, but missed on earnings with a loss of $0.17 per share.
• Insider and institutional ownership remains notable: insiders own 17.20% of the stock, while institutional investors own 40.03%. A director bought 85,518 shares, while the CFO sold 65,000 shares.

Shares of Energy Vault Holdings, Inc. (NYSE:NRGV - Get Free Report) have been assigned an average recommendation of "Hold" from the seven ratings firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $6.01.

A number of research analysts recently issued reports on NRGV shares. Zacks Research upgraded Energy Vault from a "strong sell" rating to a "hold" rating in a research note on Monday, July 6th. Roth Capital restated a "buy" rating and set a $7.00 target price (up from $5.00) on shares of Energy Vault in a research note on Wednesday, August 12th. Citigroup lifted their price target on shares of Energy Vault from $5.00 to $6.00 and gave the company a "buy" rating in a report on Thursday, August 20th. Fundamental Research set a $8.03 price target on shares of Energy Vault and gave the stock a "buy" rating in a research report on Tuesday, August 18th. Finally, Wall Street Zen downgraded shares of Energy Vault from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th.

Energy Vault Price Performance

Shares of Energy Vault stock opened at $3.88 on Friday. Energy Vault has a one year low of $2.50 and a one year high of $6.64. The stock's fifty day moving average is $3.74 and its 200 day moving average is $4.01. The stock has a market cap of $704.81 million, a P/E ratio of -5.87 and a beta of 1.25. The company has a debt-to-equity ratio of 24.07, a quick ratio of 1.19 and a current ratio of 1.19.

Energy Vault (NYSE:NRGV - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The company had revenue of $17.37 million for the quarter, compared to the consensus estimate of $14.24 million. Energy Vault had a negative net margin of 48.58% and a negative return on equity of 236.83%. Sell-side analysts anticipate that Energy Vault will post -0.56 earnings per share for the current year.

Insider Buying and Selling

In other Energy Vault news, Director Dylan Hixon purchased 85,518 shares of the business's stock in a transaction on Friday, August 14th. The stock was acquired at an average price of $3.74 per share, for a total transaction of $319,837.32. Following the purchase, the director owned 31,864 shares of the company's stock, valued at approximately $119,171.36. This represents a -159.39% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael Beer sold 65,000 shares of the firm's stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $4.08, for a total value of $265,200.00. Following the sale, the chief financial officer directly owned 1,021,806 shares in the company, valued at approximately $4,168,968.48. This represents a 5.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 17.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Tidal Investments LLC boosted its stake in Energy Vault by 105.9% in the 2nd quarter. Tidal Investments LLC now owns 688,592 shares of the company's stock worth $3,243,000 after purchasing an additional 354,220 shares during the period. SailingStone Capital Partners LLC lifted its holdings in shares of Energy Vault by 0.5% in the second quarter. SailingStone Capital Partners LLC now owns 4,469,075 shares of the company's stock worth $21,049,000 after buying an additional 24,058 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Energy Vault by 37.6% in the second quarter. Arizona State Retirement System now owns 33,637 shares of the company's stock worth $158,000 after buying an additional 9,186 shares in the last quarter. Amundi bought a new position in shares of Energy Vault during the second quarter worth $827,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Energy Vault by 548.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 177,171 shares of the company's stock worth $834,000 after acquiring an additional 149,866 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Energy Vault Company Profile

Energy Vault Holdings, Inc develops and deploys energy-storage systems designed to help stabilize electric grids and integrate renewable power. The company's technologies are intended to store electricity for later use, addressing the intermittent nature of sources such as wind and solar.

Its product portfolio includes gravity-based storage systems, including the EVx platform, which uses mechanical lifting and lowering of heavy composite blocks to store and release energy. Energy Vault also offers battery energy-storage systems, hybrid storage solutions, and VaultOS, a software platform designed to manage and optimize energy-storage assets.

Founded in 2017, Energy Vault became a publicly traded company in 2022 through a business combination with Novus Capital Corporation III.

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