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

Energy Vault Holdings, Inc. (NYSE:NRGV - Get Free Report) has earned a consensus recommendation of "Hold" from the six brokerages that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $1.95.

Separately, TD Cowen reiterated a "buy" rating and issued a $2.50 target price on shares of Energy Vault in a research report on Wednesday, November 13th.

Insider Buying and Selling

In related news, CEO Robert Piconi bought 150,000 shares of Energy Vault stock in a transaction that occurred on Friday, November 22nd. The shares were acquired at an average cost of $1.57 per share, for a total transaction of $235,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 17,623,361 shares of the company's stock, valued at approximately $27,668,676.77. The trade was a 0.86 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 19.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. DRW Securities LLC acquired a new stake in shares of Energy Vault during the third quarter worth $31,000. SG Americas Securities LLC grew its holdings in Energy Vault by 95.5% during the 3rd quarter. SG Americas Securities LLC now owns 35,601 shares of the company's stock worth $34,000 after acquiring an additional 17,388 shares during the period. Mesirow Financial Investment Management Inc. raised its position in shares of Energy Vault by 33.3% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 80,000 shares of the company's stock worth $76,000 after acquiring an additional 20,000 shares in the last quarter. Barclays PLC lifted its stake in shares of Energy Vault by 225.2% in the 3rd 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. Finally, Green Alpha Advisors LLC boosted its position in shares of Energy Vault by 62.3% during the 3rd quarter. Green Alpha Advisors LLC now owns 158,171 shares of the company's stock valued at $152,000 after purchasing an additional 60,725 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Energy Vault Stock Performance

Shares of NRGV traded up $0.23 during mid-day trading on Friday, reaching $2.53. The company had a trading volume of 2,150,255 shares, compared to its average volume of 1,988,478. The company's 50 day simple moving average is $1.86 and its 200 day simple moving average is $1.34. The company has a market capitalization of $384.86 million, a price-to-earnings ratio of -3.89 and a beta of 0.49. Energy Vault has a 1-year low of $0.78 and a 1-year high of $2.56.

Energy Vault (NYSE:NRGV - Get Free Report) last posted its 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 the consensus estimate of $4.80 million. During the same period in the previous year, the firm posted ($0.13) EPS. As a group, equities analysts forecast that Energy Vault will post -0.64 earnings per share 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.