Energy Vault (NYSE:NRGV) Given "Sell" Rating at Chardan Capital

Chardan Capital reiterated their sell rating on shares of Energy Vault (NYSE:NRGV - Free Report) in a research report released on Monday morning, MarketBeat Ratings reports. They currently have a $0.75 target price on the stock, down from their previous target price of $7.00.

NRGV has been the subject of several other research reports. The Goldman Sachs Group dropped their target price on shares of 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. Roth Capital reaffirmed a buy rating on shares of Energy Vault in a report on Tuesday, January 16th. Finally, Roth Mkm initiated coverage on shares of Energy Vault in a report on Tuesday, January 16th. They issued a buy rating and a $4.00 target price for the company. Two investment analysts have rated the stock with a sell rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $2.81.

Energy Vault Stock Performance

Shares of NRGV stock traded down $0.16 during mid-day trading on Monday, reaching $1.58. 1,387,547 shares of the company's stock traded hands, compared to its average volume of 841,265. Energy Vault has a 12 month low of $1.35 and a 12 month high of $3.55. The firm has a 50 day moving average price of $1.72 and a two-hundred day moving average price of $2.04. The firm has a market capitalization of $231.65 million, a PE ratio of -2.32 and a beta of 0.58.

Energy Vault (NYSE:NRGV - Get Free Report) last issued 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 firm had revenue of $118.24 million during the quarter, compared to the consensus estimate of $122.05 million. Energy Vault had a negative return on equity of 40.42% and a negative net margin of 28.82%. As a group, equities analysts expect that Energy Vault will post -0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Energy Vault news, CMO Laurence Alexander sold 20,385 shares of the business'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 sale, the chief marketing officer now owns 897,123 shares in the company, valued at approximately $1,471,281.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 77,889 shares of company stock worth $128,003 in the last 90 days. 20.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Energy Vault

Several hedge funds have recently made changes to their positions in NRGV. DekaBank Deutsche Girozentrale purchased a new stake in shares of Energy Vault during the 3rd quarter valued at about $25,000. Cerity Partners LLC purchased a new stake in shares of Energy Vault during the 1st quarter valued at about $29,000. Royal Bank of Canada raised its position in shares of Energy Vault by 144.8% during the 2nd quarter. Royal Bank of Canada now owns 11,229 shares of the company's stock valued at $31,000 after buying an additional 6,642 shares in the last quarter. HighTower Advisors LLC purchased a new stake in Energy Vault in the 4th quarter worth about $31,000. Finally, Bleakley Financial Group LLC purchased a new stake in Energy Vault in the 4th quarter worth about $33,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

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.