Energy Vault (NYSE:NRGV) Given New $1.50 Price Target at Roth Mkm

Energy Vault (NYSE:NRGV) had its price target reduced by Roth Mkm from $2.50 to $1.50 in a research note published on Thursday,Benzinga reports. Roth Mkm currently has a buy rating on the stock.

Other research analysts have also issued research reports about the company. The Goldman Sachs Group reduced their target price on Energy Vault from $1.00 to $0.75 and set a “sell” rating for the company in a report on Wednesday. TD Cowen decreased their target price on shares of Energy Vault from $2.50 to $2.00 and set a “buy” rating on the stock in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating and three have given a buy rating to the company. According to MarketBeat.com, Energy Vault has an average rating of “Hold” and an average target price of $1.60.

Energy Vault Stock Down 8.9 %

Shares of NYSE:NRGV opened at $0.91 on Thursday. The company has a 50-day moving average price of $1.56 and a two-hundred day moving average price of $1.56. Energy Vault has a twelve month low of $0.78 and a twelve month high of $2.70. The firm has a market capitalization of $138.58 million, a PE ratio of -1.40 and a beta of 0.45.

Energy Vault (NYSE:NRGV) last issued its earnings results on Monday, March 17th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.21). Energy Vault had a negative net margin of 73.37% and a negative return on equity of 47.41%. The business had revenue of $38.95 million for the quarter, compared to the consensus estimate of $42.51 million. Analysts anticipate that Energy Vault will post -0.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Truist Financial Corp purchased a new position in Energy Vault in the 4th quarter worth approximately $27,000. Virtu Financial LLC purchased a new position in Energy Vault in the fourth quarter worth $27,000. Atala Financial Inc bought a new position in Energy Vault in the fourth quarter valued at $31,000. DRW Securities LLC purchased a new stake in Energy Vault during the third quarter valued at about $31,000. Finally, Shepherd Kaplan Krochuk LLC bought a new stake in Energy Vault during the fourth quarter worth about $31,000. 40.03% of the stock is currently owned by institutional investors.

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.