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

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

Several equities analysts recently weighed in on the stock. 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 report on Wednesday, August 12th. Wall Street Zen lowered Energy Vault from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Citigroup increased their price objective on Energy Vault from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Fundamental Research set a $8.03 target price on Energy Vault and gave the company a “buy” rating in a report on Tuesday, August 18th. Finally, Zacks Research raised Energy Vault from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th.

Insiders Place Their Bets

In other Energy Vault news, Director Stephanie Unwin sold 115,000 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $3.71, for a total transaction of $426,650.00. Following the transaction, the director directly owned 182,245 shares in the company, valued at approximately $676,128.95. This trade represents a 38.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dylan Hixon acquired 27,472 shares of the company’s stock in a transaction on Monday, August 17th. The shares were bought 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 in the company, valued at approximately $106,591.36. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 17.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NRGV. Bank of Nova Scotia grew its position in shares of Energy Vault by 19.9% during the 1st quarter. Bank of Nova Scotia now owns 41,600 shares of the company’s stock valued at $137,000 after acquiring an additional 6,900 shares during the period. Arizona State Retirement System raised its holdings in shares of Energy Vault by 37.6% in the 2nd quarter. Arizona State Retirement System now owns 33,637 shares of the company’s stock worth $158,000 after purchasing an additional 9,186 shares during the period. Forte Asset Management LLC purchased a new position in Energy Vault in the first quarter valued at approximately $33,000. Quantbot Technologies LP purchased a new position in Energy Vault in the second quarter valued at approximately $50,000. Finally, Hsbc Holdings PLC bought a new position in Energy Vault during the second quarter valued at $57,000. 40.03% of the stock is owned by institutional investors.

Energy Vault Stock Performance

NYSE NRGV opened at $3.88 on Friday. The company has a market cap of $704.63 million, a P/E ratio of -5.87 and a beta of 1.25. The company has a fifty day simple moving average of $3.80 and a 200 day simple moving average of $4.02. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 24.07. Energy Vault has a 12-month low of $2.50 and a 12-month high of $6.64.

Energy Vault (NYSE:NRGV) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The business 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%. Sell-side 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.