Roth Capital Brokers Reduce Earnings Estimates for Energy Vault Holdings, Inc. (NYSE:NRGV)

Energy Vault Holdings, Inc. (NYSE:NRGV - Free Report) - Analysts at Roth Capital dropped their Q3 2024 EPS estimates for shares of Energy Vault in a report released on Tuesday, May 7th. Roth Capital analyst J. Clare now expects that the company will post earnings per share of ($0.13) for the quarter, down from their prior estimate of ($0.07). Roth Capital currently has a "Buy" rating on the stock. The consensus estimate for Energy Vault's current full-year earnings is ($0.41) per share. Roth Capital also issued estimates for Energy Vault's Q4 2024 earnings at ($0.09) EPS, FY2024 earnings at ($0.47) EPS and FY2025 earnings at ($0.17) EPS.

Other equities research analysts also recently issued research reports about the company. The Goldman Sachs Group reduced their target price on Energy Vault from $1.70 to $1.50 and set a "sell" rating for the company in a report on Friday, March 22nd. TD Cowen dropped their target price on shares of Energy Vault from $6.00 to $5.00 and set an "outperform" rating for the company in a report on Wednesday, March 13th. Chardan Capital reissued a "sell" rating and set a $0.75 price target (down previously from $7.00) on shares of Energy Vault in a research note on Monday, April 8th. Stifel Nicolaus dropped their price objective on Energy Vault from $6.00 to $3.00 and set a "buy" rating for the company in a research note on Tuesday, April 30th. Finally, Roth Mkm started coverage on Energy Vault in a research report on Tuesday, January 16th. They set a "buy" rating and a $4.00 target price on the stock. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $2.85.

Energy Vault Trading Down 7.1 %

Shares of Energy Vault stock traded down $0.08 on Friday, reaching $1.12. 522,892 shares of the stock were exchanged, compared to its average volume of 989,868. Energy Vault has a 1-year low of $1.05 and a 1-year high of $3.55. The business has a fifty day moving average price of $1.52 and a two-hundred day moving average price of $1.87.

Energy Vault (NYSE:NRGV - Get Free Report) last announced its earnings results on Tuesday, March 12th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.05). Energy Vault had a negative net margin of 28.82% and a negative return on equity of 40.42%. The business had revenue of $118.24 million during the quarter, compared to analysts' expectations of $122.05 million.

Insiders Place Their Bets

In other news, CMO Laurence Alexander sold 20,385 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $1.64, for a total transaction of $33,431.40. Following the completion of the transaction, the chief marketing officer now directly owns 897,123 shares in the company, valued at approximately $1,471,281.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold 80,339 shares of company stock worth $123,341 in the last quarter. 19.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Energy Vault

A number of large investors have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale bought a new position in Energy Vault in the 3rd quarter valued at about $25,000. Bleakley Financial Group LLC acquired a new stake in shares of Energy Vault in the 4th quarter worth approximately $33,000. Simplicity Solutions LLC bought a new position in shares of Energy Vault in the fourth quarter valued at approximately $33,000. First Citizens Bank & Trust Co. acquired a new position in shares of Energy Vault during the fourth quarter valued at approximately $37,000. Finally, Alpine Global Management LLC bought a new stake in Energy Vault during the third quarter worth approximately $38,000. Institutional investors 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.