Brokerages Set Energy Vault Holdings, Inc. (NYSE:NRGV) PT at $5.08

Shares of Energy Vault Holdings, Inc. (NYSE:NRGV) have earned a consensus rating of “Reduce” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $5.0750.

NRGV has been the topic of a number of research reports. The Goldman Sachs Group boosted their target price on shares of Energy Vault from $1.75 to $2.00 and gave the stock a “sell” rating in a research note on Thursday, March 19th. Cantor Fitzgerald initiated coverage on shares of Energy Vault in a research note on Tuesday, May 5th. They set an “overweight” rating and a $7.00 target price on the stock. Wall Street Zen cut shares of Energy Vault from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Citigroup initiated coverage on shares of Energy Vault in a research note on Thursday, June 11th. They set a “neutral” rating and a $5.25 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Energy Vault in a research note on Wednesday, May 27th.

Energy Vault Stock Performance

Shares of NYSE:NRGV opened at $4.70 on Wednesday. The company’s 50 day simple moving average is $4.76 and its 200 day simple moving average is $4.36. The stock has a market capitalization of $836.88 million, a price-to-earnings ratio of -6.61 and a beta of 1.15. Energy Vault has a 1 year low of $0.72 and a 1 year high of $6.64. The company has a debt-to-equity ratio of 4.94, a current ratio of 1.44 and a quick ratio of 1.44.

Energy Vault (NYSE:NRGV) last posted its earnings results on Tuesday, May 5th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). The company had revenue of $21.88 million for the quarter, compared to the consensus estimate of $20.72 million. Energy Vault had a negative return on equity of 171.09% and a negative net margin of 52.97%. As a group, research analysts predict that Energy Vault will post -0.61 EPS for the current fiscal year.

Insider Buying and Selling at Energy Vault

In other Energy Vault news, CFO Michael Thomas Beer sold 65,000 shares of the business’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $3.18, for a total transaction of $206,700.00. Following the sale, the chief financial officer owned 1,060,945 shares of the company’s stock, valued at approximately $3,373,805.10. The trade was a 5.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 17.20% of the company’s stock.

Hedge Funds Weigh In On Energy Vault

A number of hedge funds have recently modified their holdings of NRGV. Forte Asset Management LLC acquired a new position in shares of Energy Vault during the first quarter worth $33,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Energy Vault during the third quarter worth $36,000. XTX Topco Ltd acquired a new position in shares of Energy Vault during the second quarter worth $39,000. Banco BTG Pactual S.A. acquired a new position in shares of Energy Vault during the third quarter worth $43,000. Finally, Calamos Advisors LLC acquired a new position in shares of Energy Vault during the first quarter worth $48,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

About Energy Vault

Energy Vault is a global energy storage technology company specializing in long-duration, gravity-based energy storage solutions. Founded in 2017 and headquartered in Lugano, Switzerland, the firm has developed a modular system that uses large composite blocks and a proprietary crane system to convert excess renewable energy into gravitational potential energy. When energy demand peaks, the system lowers the blocks to generate electricity through regenerative braking, offering a dispatchable, carbon-free alternative to traditional battery storage.

The company’s flagship product line, EVx, integrates advanced materials science, software-driven controls and artificial intelligence to optimize charge and discharge cycles.