Energy Vault Holdings, Inc. (NYSE:NRGV) Given Average Recommendation of "Hold" by Brokerages

Energy Vault Holdings, Inc. (NYSE:NRGV - Get Free Report) has been assigned a consensus rating of "Hold" from the six brokerages that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating and four have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $1.95.

NRGV has been the subject of several research analyst reports. TD Cowen reaffirmed a "buy" rating and issued a $2.50 price objective on shares of Energy Vault in a research note on Wednesday. Roth Mkm cut their price target on Energy Vault from $2.50 to $2.00 and set a "buy" rating for the company in a research note on Thursday, August 8th.

Institutional Trading of Energy Vault

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. DRW Securities LLC acquired a new position in Energy Vault in the 3rd quarter valued at $31,000. SG Americas Securities LLC lifted its position in Energy Vault by 95.5% during the third quarter. SG Americas Securities LLC now owns 35,601 shares of the company's stock worth $34,000 after buying an additional 17,388 shares during the period. Mesirow Financial Investment Management Inc. grew its holdings in Energy Vault by 33.3% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 80,000 shares of the company's stock valued at $76,000 after buying an additional 20,000 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Energy Vault during the 1st quarter worth about $91,000. Finally, Barclays PLC grew its holdings in Energy Vault by 225.2% in the third quarter. Barclays PLC now owns 143,759 shares of the company's stock valued at $137,000 after purchasing an additional 99,550 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

Energy Vault Stock Down 12.0 %

NRGV stock traded down $0.20 on Friday, reaching $1.46. 1,089,845 shares of the company's stock were exchanged, compared to its average volume of 842,202. Energy Vault has a twelve month low of $0.78 and a twelve month high of $2.69. The stock has a fifty day moving average of $1.33 and a 200-day moving average of $1.18. The firm has a market cap of $219.71 million, a PE ratio of -2.25 and a beta of 0.45.

Energy Vault (NYSE:NRGV - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.03). Energy Vault had a negative return on equity of 47.41% and a negative net margin of 73.37%. The company had revenue of $1.20 million for the quarter, compared to analyst estimates of $4.80 million. During the same period last year, the company earned ($0.13) earnings per share. On average, equities research analysts predict that Energy Vault will post -0.6 EPS for the current fiscal year.

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.