TD Cowen Reiterates “Buy” Rating for Energy Vault (NYSE:NRGV)

Energy Vault (NYSE:NRGV)‘s stock had its “buy” rating reissued by TD Cowen in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $2.50 price target on the stock. TD Cowen’s target price points to a potential upside of 42.05% from the stock’s previous close.

Separately, Roth Mkm lowered their price objective on shares of Energy Vault from $2.50 to $2.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $1.95.

Energy Vault Stock Performance

Energy Vault stock traded down $0.25 during midday trading on Wednesday, reaching $1.76. 720,524 shares of the company’s stock were exchanged, compared to its average volume of 824,943. Energy Vault has a 52 week low of $0.78 and a 52 week high of $2.84. The firm has a market cap of $264.84 million, a price-to-earnings ratio of -2.90 and a beta of 0.45. The stock’s 50-day simple moving average is $1.30 and its 200 day simple moving average is $1.17.

Institutional Trading of Energy Vault

Institutional investors have recently bought and sold shares of the company. DRW Securities LLC bought a new stake in Energy Vault during the third quarter valued at $31,000. SG Americas Securities LLC boosted its position in Energy Vault by 95.5% during the third quarter. SG Americas Securities LLC now owns 35,601 shares of the company’s stock valued at $34,000 after acquiring an additional 17,388 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Energy Vault during the first quarter valued at $91,000. Mesirow Financial Investment Management Inc. boosted its position in Energy Vault by 33.3% during the second quarter. Mesirow Financial Investment Management Inc. now owns 80,000 shares of the company’s stock valued at $76,000 after acquiring an additional 20,000 shares during the last quarter. Finally, Green Alpha Advisors LLC raised its holdings in shares of Energy Vault by 62.3% during the third quarter. Green Alpha Advisors LLC now owns 158,171 shares of the company’s stock valued at $152,000 after purchasing an additional 60,725 shares during the period. 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.