Cantor Fitzgerald Issues Positive Forecast for Energy Vault (NYSE:NRGV) Stock Price

Energy Vault (NYSE:NRGV) had its price objective lifted by Cantor Fitzgerald from $7.00 to $12.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald‘s price objective indicates a potential upside of 238.98% from the stock’s current price.

NRGV has been the topic of several other research reports. Fundamental Research set a $8.03 price target on Energy Vault and gave the company a “buy” rating in a research note on Tuesday, August 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Energy Vault in a research report on Tuesday. Citigroup decreased their price objective on shares of Energy Vault from $6.00 to $4.75 and set a “buy” rating on the stock in a report on Wednesday, October 21st. Wall Street Zen lowered Energy Vault from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $7.00 target price (up from $5.00) on shares of Energy Vault in a research report on Wednesday, August 12th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Energy Vault presently has an average rating of “Hold” and a consensus target price of $6.76.

Energy Vault Stock Down 2.2%

NYSE NRGV opened at $3.54 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 24.07. The firm has a market cap of $643.71 million, a PE ratio of -5.36 and a beta of 1.33. The business’s fifty day simple moving average is $3.58 and its 200-day simple moving average is $3.85. Energy Vault has a 52 week low of $2.46 and a 52 week high of $6.64.

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

Insider Buying and Selling at Energy Vault

In related news, Director Stephanie Unwin sold 115,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $3.71, for a total value of $426,650.00. Following the sale, the director owned 182,245 shares of the company’s stock, valued at $676,128.95. This trade represents a 38.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dylan Hixon purchased 27,472 shares of the business’s stock in a transaction on Monday, August 17th. The stock was acquired at an average price of $3.88 per share, for a total transaction of $106,591.36. Following the completion of the purchase, the director owned 27,472 shares of the company’s stock, valued at $106,591.36. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 17.20% of the stock is currently owned by company insiders.

Institutional Trading of Energy Vault

Several institutional investors have recently modified their holdings of NRGV. Bank of America Corp DE lifted its position in Energy Vault by 349.6% in the first quarter. Bank of America Corp DE now owns 665,546 shares of the company’s stock valued at $2,196,000 after acquiring an additional 517,528 shares during the last quarter. BlackRock Inc. acquired a new position in Energy Vault in the second quarter valued at $52,657,000. Bank of New York Mellon Corp acquired a new position in Energy Vault in the second quarter valued at $1,486,000. J. Goldman & Co LP purchased a new stake in shares of Energy Vault in the second quarter valued at about $7,085,000. Finally, Tidal Investments LLC raised its holdings in shares of Energy Vault by 105.9% in the second quarter. Tidal Investments LLC now owns 688,592 shares of the company’s stock valued at $3,243,000 after buying an additional 354,220 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

About Energy Vault

Energy Vault Holdings, Inc. develops energy storage systems designed to help utilities, power producers and other customers store electricity and deliver it when needed. Its offerings include gravity-based storage systems, which use mechanical processes to store and release energy, as well as battery energy storage systems and hybrid solutions. The company also provides VaultOS, a software platform for monitoring and managing energy storage assets. Its systems are intended to support renewable energy integration, grid stability and other energy management needs.