Energy Vault Holdings, Inc. (NYSE:NRGV) Receives Consensus Rating of “Hold” from Brokerages

Shares of Energy Vault Holdings, Inc. (NYSE:NRGV) have received an average recommendation of “Hold” from the seven research firms that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $6.01.

A number of equities research analysts have issued reports on the stock. Zacks Research raised shares of Energy Vault from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Roth Capital reaffirmed a “buy” rating and issued a $7.00 price target (up from $5.00) on shares of Energy Vault in a research note on Wednesday, August 12th. Fundamental Research set a $8.03 price objective on Energy Vault and gave the stock a “buy” rating in a report on Tuesday, August 18th. Citigroup boosted their target price on Energy Vault from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Finally, Wall Street Zen lowered Energy Vault from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th.

Insider Activity at Energy Vault

In related news, Director Stephanie Unwin sold 115,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $3.71, for a total value of $426,650.00. Following the completion of the sale, the director owned 182,245 shares of the company’s stock, valued at approximately $676,128.95. The trade was a 38.69% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dylan Hixon acquired 27,472 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was purchased at an average price of $3.88 per share, for a total transaction of $106,591.36. Following the acquisition, the director directly owned 27,472 shares of the company’s stock, valued at $106,591.36. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 17.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Forte Asset Management LLC bought a new stake in Energy Vault in the first quarter worth $33,000. Quantbot Technologies LP acquired a new stake in shares of Energy Vault in the second quarter worth about $50,000. Hsbc Holdings PLC acquired a new stake in shares of Energy Vault in the second quarter worth about $57,000. Calamos Advisors LLC bought a new stake in shares of Energy Vault during the 1st quarter worth about $48,000. Finally, Miller Howard Investments Inc. NY bought a new stake in shares of Energy Vault during the 1st quarter worth about $51,000. Institutional investors own 40.03% of the company’s stock.

Energy Vault Price Performance

NYSE NRGV opened at $3.31 on Friday. The company has a 50 day simple moving average of $3.83 and a 200-day simple moving average of $4.02. The company has a debt-to-equity ratio of 24.07, a current ratio of 1.19 and a quick ratio of 1.19. The firm has a market capitalization of $602.80 million, a price-to-earnings ratio of -5.02 and a beta of 1.25. Energy Vault has a 52-week low of $2.50 and a 52-week high of $6.64.

Energy Vault (NYSE:NRGV) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The company 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%. Equities research analysts predict that Energy Vault will post -0.56 earnings per share for the current fiscal year.

Energy Vault Company Profile

Energy Vault Holdings, Inc (NYSE: NRGV) develops and deploys long-duration energy storage systems designed to help utilities, renewable energy developers and industrial customers store electricity and improve grid reliability. Its solutions are intended to complement intermittent renewable power sources such as wind and solar by storing energy when supply is abundant and releasing it when demand is higher.

The company’s portfolio includes gravity-based energy storage systems, which use mechanical structures and heavy materials to store and release energy, as well as battery energy storage solutions.