Stifel Nicolaus Trims Energy Vault (NYSE:NRGV) Target Price to $3.00

Energy Vault (NYSE:NRGV) had its price target decreased by Stifel Nicolaus from $6.00 to $3.00 in a report published on Tuesday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Other analysts have also issued reports about the stock. The Goldman Sachs Group reduced their price target on shares of Energy Vault from $1.70 to $1.50 and set a sell rating for the company in a research note on Friday, March 22nd. Roth Mkm started coverage on Energy Vault in a report on Tuesday, January 16th. They set a buy rating and a $4.00 price target on the stock. Chardan Capital reaffirmed a sell rating and issued a $0.75 price objective (down previously from $7.00) on shares of Energy Vault in a report on Monday, April 8th. TD Cowen reduced their price objective on Energy Vault from $6.00 to $5.00 and set an outperform rating for the company in a research report on Wednesday, March 13th. Finally, Roth Capital reissued a buy rating on shares of Energy Vault in a research report on Tuesday, January 16th. Two analysts have rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat, Energy Vault currently has a consensus rating of Hold and a consensus target price of $2.85.

Energy Vault Trading Up 0.8 %

NRGV stock traded up $0.01 during midday trading on Tuesday, hitting $1.27. The company’s stock had a trading volume of 812,860 shares, compared to its average volume of 874,001. The company has a market cap of $186.79 million, a PE ratio of -1.87 and a beta of 0.71. The firm’s 50-day moving average is $1.56 and its 200-day moving average is $1.90. Energy Vault has a 12 month low of $1.05 and a 12 month high of $3.55.

Energy Vault (NYSE:NRGV) last announced its quarterly earnings results 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). Energy Vault had a negative net margin of 28.82% and a negative return on equity of 40.42%. The business had revenue of $118.24 million for the quarter, compared to the consensus estimate of $122.05 million. Analysts expect that Energy Vault will post -0.41 earnings per share for the current year.

Insider Buying and Selling

In related news, CMO Laurence Alexander sold 20,385 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $1.64, for a total transaction of $33,431.40. Following the completion of 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 SEC, which is available at this hyperlink. In the last three months, insiders have sold 77,966 shares of company stock valued at $124,984. 19.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in shares of Energy Vault during the third quarter worth about $107,000. Bank of New York Mellon Corp grew its holdings in Energy Vault by 2.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 292,520 shares of the company’s stock valued at $746,000 after buying an additional 7,853 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Energy Vault during the third quarter valued at approximately $539,000. Pathstone Family Office LLC raised its position in shares of Energy Vault by 24.4% during the third quarter. Pathstone Family Office LLC now owns 53,028 shares of the company’s stock valued at $135,000 after buying an additional 10,414 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Energy Vault in the third quarter worth $25,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

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.