Brokerages Set Energy Vault Holdings, Inc. (NYSE:NRGV) Price Target at $2.25

Shares of Energy Vault Holdings, Inc. (NYSE:NRGV) have received a consensus recommendation of “Hold” from the six ratings firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $2.25.

Separately, Roth Mkm lowered their target price on Energy Vault from $2.50 to $2.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC lifted its stake in Energy Vault by 95.5% in the 3rd quarter. SG Americas Securities LLC now owns 35,601 shares of the company’s stock valued at $34,000 after purchasing an additional 17,388 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Energy Vault in the first quarter valued at approximately $91,000. Mesirow Financial Investment Management Inc. lifted its position in shares of Energy Vault by 33.3% in the second quarter. Mesirow Financial Investment Management Inc. now owns 80,000 shares of the company’s stock valued at $76,000 after buying an additional 20,000 shares during the last quarter. Green Alpha Advisors LLC boosted its stake in shares of Energy Vault by 62.3% during the 3rd quarter. Green Alpha Advisors LLC now owns 158,171 shares of the company’s stock worth $152,000 after acquiring an additional 60,725 shares during the period. Finally, XTX Topco Ltd increased its holdings in shares of Energy Vault by 684.0% during the 2nd quarter. XTX Topco Ltd now owns 173,016 shares of the company’s stock worth $164,000 after acquiring an additional 150,948 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Energy Vault Stock Up 3.6 %

NYSE:NRGV opened at $1.72 on Tuesday. The company has a market cap of $258.83 million, a P/E ratio of -2.87 and a beta of 0.65. Energy Vault has a twelve month low of $0.78 and a twelve month high of $3.22. The business has a 50 day moving average price of $1.08 and a two-hundred day moving average price of $1.11.

Energy Vault (NYSE:NRGV) last announced its earnings results on Tuesday, August 6th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.07). Energy Vault had a negative return on equity of 40.67% and a negative net margin of 29.29%. The business had revenue of $3.77 million for the quarter, compared to analyst estimates of $16.65 million. During the same quarter in the previous year, the company posted ($0.18) EPS. As a group, analysts anticipate that Energy Vault will post -0.6 earnings per share for the current fiscal year.

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.