TD Cowen Cuts Energy Vault (NYSE:NRGV) Price Target to $4.00

Energy Vault (NYSE:NRGV - Get Free Report) had its target price dropped by analysts at TD Cowen from $5.00 to $4.00 in a research report issued on Monday, Benzinga reports. The firm currently has a "buy" rating on the stock. TD Cowen's price objective suggests a potential upside of 260.36% from the company's current price.

A number of other equities analysts have also weighed in on the stock. Stifel Nicolaus reduced their target price on shares of Energy Vault from $6.00 to $3.00 and set a "buy" rating for the company in a research note on Tuesday, April 30th. Roth Mkm started coverage on Energy Vault in a report on Tuesday, January 16th. They set a "buy" rating and a $4.00 price objective for the company. The Goldman Sachs Group dropped their target price on Energy Vault from $1.70 to $1.50 and set a "sell" rating on the stock in a research report on Friday, March 22nd. Roth Capital reaffirmed a "buy" rating on shares of Energy Vault in a research report on Tuesday, January 16th. Finally, Chardan Capital reaffirmed a "sell" rating and set a $0.75 price target (down from $7.00) on shares of Energy Vault in a research note on Monday, April 8th. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $2.65.

Energy Vault Stock Down 0.9 %

NYSE NRGV traded down $0.01 during trading hours on Monday, hitting $1.11. The company's stock had a trading volume of 709,314 shares, compared to its average volume of 873,250. The stock has a fifty day moving average of $1.51 and a 200 day moving average of $1.86. Energy Vault has a twelve month low of $1.05 and a twelve month high of $3.55. The firm has a market capitalization of $163.26 million, a P/E ratio of -1.88 and a beta of 0.71.

Energy Vault (NYSE:NRGV - Get Free Report) last released its earnings results on Tuesday, March 12th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.05). The company had revenue of $118.24 million during the quarter, compared to analyst estimates of $122.05 million. Energy Vault had a negative net margin of 26.17% and a negative return on equity of 38.36%. On average, analysts predict that Energy Vault will post -0.46 earnings per share for the current year.

Insider Buying and Selling

In related news, CMO Laurence Alexander sold 20,385 shares of the firm's stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $1.64, for a total value of $33,431.40. Following the completion of the transaction, the chief marketing officer now directly owns 897,123 shares of the company's stock, valued at $1,471,281.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 80,339 shares of company stock worth $123,341. Corporate insiders own 19.80% of the company's stock.

Institutional Investors Weigh In On Energy Vault

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in Energy Vault in the 3rd quarter valued at about $107,000. Bank of New York Mellon Corp increased its stake in shares of Energy Vault by 2.8% during the third quarter. Bank of New York Mellon Corp now owns 292,520 shares of the company's stock worth $746,000 after purchasing an additional 7,853 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Energy Vault during the 3rd quarter worth approximately $539,000. Pathstone Family Office LLC boosted its stake in Energy Vault by 24.4% in the 3rd quarter. Pathstone Family Office LLC now owns 53,028 shares of the company's stock valued at $135,000 after purchasing an additional 10,414 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new position in Energy Vault in the 3rd quarter valued at $25,000. Institutional investors own 40.03% of the company's stock.

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.