Energy Vault (NYSE:NRGV) Stock Gets Price Target Increase from Cantor Fitzgerald

Energy Vault (NYSE:NRGV) had its price objective upped by investment analysts at Cantor Fitzgerald from $7.00 to $12.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald‘s price target points to a potential upside of 238.98% from the stock’s current price.

Several other research analysts have also recently issued reports on NRGV. Wall Street Zen cut shares of Energy Vault from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Energy Vault in a report on Tuesday. Roth Capital restated a “buy” rating and set a $7.00 target price (up from $5.00) on shares of Energy Vault in a research report on Wednesday, August 12th. Fundamental Research set a $8.03 price target on shares of Energy Vault and gave the stock a “buy” rating in a report on Tuesday, August 18th. Finally, Citigroup dropped their target price on Energy Vault from $6.00 to $4.75 and set a “buy” rating for the company in a research note on Wednesday, October 21st. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Energy Vault currently has a consensus rating of “Hold” and an average target price of $6.76.

Energy Vault Price Performance

Shares of NYSE NRGV opened at $3.54 on Wednesday. The stock has a fifty day moving average price of $3.58 and a 200 day moving average price of $3.85. Energy Vault has a 1-year low of $2.46 and a 1-year high of $6.64. 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 company has a market cap of $643.71 million, a PE ratio of -5.36 and a beta of 1.33.

Energy Vault (NYSE:NRGV) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The firm had revenue of $17.37 million during the quarter, compared to analyst estimates of $14.24 million. Energy Vault had a negative net margin of 48.58% and a negative return on equity of 236.83%. Sell-side analysts forecast that Energy Vault will post -0.56 EPS for the current year.

Insider Buying and Selling

In related news, Director Stephanie Unwin sold 115,000 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $3.71, for a total transaction 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. This represents a 38.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dylan Hixon purchased 27,472 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was acquired 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. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 17.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Energy Vault

Hedge funds have recently made changes to their positions in the business. Sterling Capital Management LLC lifted its holdings in shares of Energy Vault by 153.2% during the 3rd quarter. Sterling Capital Management LLC now owns 9,111 shares of the company’s stock valued at $36,000 after acquiring an additional 5,512 shares in the last quarter. Calamos Advisors LLC acquired a new stake in Energy Vault in the 1st quarter valued at $48,000. Quantbot Technologies LP acquired a new stake in Energy Vault in the 2nd quarter valued at $50,000. Hsbc Holdings PLC acquired a new stake in Energy Vault in the 2nd quarter valued at $57,000. Finally, Walleye Capital LLC purchased a new position in Energy Vault in the first quarter valued at about $58,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Energy Vault Company Profile

Energy Vault Holdings, Inc. develops energy storage systems designed to help utilities, power producers and other customers store electricity and deliver it when needed. Its offerings include gravity-based storage systems, which use mechanical processes to store and release energy, as well as battery energy storage systems and hybrid solutions. The company also provides VaultOS, a software platform for monitoring and managing energy storage assets. Its systems are intended to support renewable energy integration, grid stability and other energy management needs.