Brokerages Set Energy Vault Holdings, Inc. (NYSE:NRGV) PT at $6.01

Energy Vault Holdings, Inc. (NYSE:NRGV) has received a consensus recommendation of “Hold” from the seven analysts that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $6.0060.

Several brokerages have weighed in on NRGV. Roth Capital reiterated a “buy” rating and issued a $7.00 price objective (up from $5.00) on shares of Energy Vault in a research note on Wednesday, August 12th. Citigroup lifted their price target on Energy Vault from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Zacks Research raised Energy Vault from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Cantor Fitzgerald restated an “overweight” rating and set a $7.00 price objective on shares of Energy Vault in a research report on Wednesday, August 12th. Finally, Fundamental Research set a $8.03 price objective on Energy Vault and gave the company a “buy” rating in a research note on Tuesday, August 18th.

Insider Transactions at Energy Vault

In related news, Director Dylan Hixon bought 85,518 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was purchased at an average price of $3.74 per share, with a total value of $319,837.32. Following the completion of the acquisition, the director owned 31,864 shares of the company’s stock, valued at $119,171.36. The trade was a -159.39% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephanie Unwin sold 115,000 shares of the firm’s 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 in the company, valued at approximately $676,128.95. The trade was a 38.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 17.20% of the company’s stock.

Institutional Trading of Energy Vault

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning boosted its holdings in Energy Vault by 3.7% in the third quarter. Creative Planning now owns 102,139 shares of the company’s stock valued at $303,000 after acquiring an additional 3,690 shares during the last quarter. Osaic Holdings Inc. grew its holdings in Energy Vault by 12.4% in the fourth quarter. Osaic Holdings Inc. now owns 44,547 shares of the company’s stock worth $205,000 after purchasing an additional 4,897 shares during the period. Bank of Nova Scotia increased its position in Energy Vault by 19.9% in the 1st quarter. Bank of Nova Scotia now owns 41,600 shares of the company’s stock valued at $137,000 after buying an additional 6,900 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Energy Vault by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 668,703 shares of the company’s stock valued at $3,083,000 after acquiring an additional 7,742 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its position in shares of Energy Vault by 70.0% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 20,808 shares of the company’s stock worth $96,000 after purchasing an additional 8,570 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Energy Vault Price Performance

Shares of NRGV opened at $4.33 on Monday. The firm has a market capitalization of $786.46 million, a PE ratio of -6.55 and a beta of 1.24. The company has a debt-to-equity ratio of 24.07, a current ratio of 1.19 and a quick ratio of 1.19. Energy Vault has a fifty-two week low of $2.01 and a fifty-two week high of $6.64. The company’s 50-day moving average is $3.50 and its 200-day moving average is $3.91.

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

Energy Vault Company Profile

Energy Vault Holdings, Inc develops and deploys energy-storage systems designed to help stabilize electric grids and integrate renewable power. The company’s technologies are intended to store electricity for later use, addressing the intermittent nature of sources such as wind and solar.

Its product portfolio includes gravity-based storage systems, including the EVx platform, which uses mechanical lifting and lowering of heavy composite blocks to store and release energy. Energy Vault also offers battery energy-storage systems, hybrid storage solutions, and VaultOS, a software platform designed to manage and optimize energy-storage assets.

Founded in 2017, Energy Vault became a publicly traded company in 2022 through a business combination with Novus Capital Corporation III.