Brokerages Set Energy Vault Holdings, Inc. (NYSE:NRGV) PT at $2.81

Shares of Energy Vault Holdings, Inc. (NYSE:NRGV - Get Free Report) have earned an average recommendation of "Hold" from the six brokerages that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $2.85.

NRGV has been the topic of a number of recent research reports. Roth Capital reissued a "buy" rating on shares of Energy Vault in a report on Tuesday, January 16th. Roth Mkm started coverage on Energy Vault in a report on Tuesday, January 16th. They issued a "buy" rating and a $4.00 price target on the stock. TD Cowen lowered their price target on Energy Vault from $6.00 to $5.00 and set an "outperform" rating on the stock in a report on Wednesday, March 13th. Stifel Nicolaus lowered their price target on Energy Vault from $6.00 to $3.00 and set a "buy" rating on the stock in a report on Tuesday. Finally, Chardan Capital reaffirmed a "sell" rating and issued a $0.75 price target (down previously from $7.00) on shares of Energy Vault in a report on Monday, April 8th.

Insider Activity

In other news, CMO Laurence Alexander sold 20,385 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $1.64, for a total transaction of $33,431.40. Following the transaction, the chief marketing officer now directly owns 897,123 shares in the company, valued at approximately $1,471,281.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have sold 77,966 shares of company stock worth $124,984. 19.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Energy Vault

Several institutional investors and hedge funds have recently bought and sold shares of NRGV. Bank of New York Mellon Corp lifted its holdings in Energy Vault by 2.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 292,520 shares of the company's stock worth $746,000 after buying an additional 7,853 shares during the period. Sapient Capital LLC lifted its holdings in Energy Vault by 14.0% in the 1st quarter. Sapient Capital LLC now owns 243,939 shares of the company's stock worth $437,000 after buying an additional 30,000 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Energy Vault in the 3rd quarter worth approximately $539,000. CenterBook Partners LP purchased a new stake in Energy Vault in the 4th quarter worth approximately $260,000. Finally, Green Alpha Advisors LLC lifted its holdings in Energy Vault by 20.7% in the 4th quarter. Green Alpha Advisors LLC now owns 101,023 shares of the company's stock worth $235,000 after buying an additional 17,333 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Energy Vault Stock Down 2.3 %

NRGV traded down $0.03 during trading on Tuesday, reaching $1.27. 462,415 shares of the company were exchanged, compared to its average volume of 877,427. The company's 50-day moving average is $1.58 and its two-hundred day moving average is $1.92. The company has a market cap of $186.79 million, a price-to-earnings ratio of -1.87 and a beta of 0.58. Energy Vault has a 12-month low of $1.05 and a 12-month high of $3.55.

Energy Vault (NYSE:NRGV - Get Free Report) last issued its quarterly earnings data on Tuesday, March 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.05). The company had revenue of $118.24 million for the quarter, compared to analysts' expectations of $122.05 million. Energy Vault had a negative return on equity of 40.42% and a negative net margin of 28.82%. Equities analysts forecast that Energy Vault will post -0.34 earnings per share for the current year.

About Energy Vault

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.