Roth Mkm Lowers Energy Vault (NYSE:NRGV) Price Target to $1.50

Energy Vault (NYSE:NRGV - Free Report) had its target price lowered by Roth Mkm from $2.50 to $1.50 in a report published on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. The Goldman Sachs Group lowered their price target on shares of Energy Vault from $1.00 to $0.75 and set a "sell" rating for the company in a report on Wednesday, March 19th. TD Cowen decreased their price objective on shares of Energy Vault from $2.50 to $2.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. Two analysts have rated the stock with a sell rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $1.60.

Energy Vault Trading Down 1.6 %

Shares of NRGV traded down $0.02 during midday trading on Thursday, reaching $0.94. 942,500 shares of the company were exchanged, compared to its average volume of 1,016,334. Energy Vault has a 1-year low of $0.78 and a 1-year high of $2.70. The stock has a 50-day moving average price of $1.52 and a 200-day moving average price of $1.56. The company has a market cap of $142.69 million, a price-to-earnings ratio of -1.44 and a beta of 0.45.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its stake in Energy Vault by 15,519.9% in the fourth quarter. Invesco Ltd. now owns 2,675,226 shares of the company's stock worth $6,100,000 after purchasing an additional 2,658,099 shares in the last quarter. CastleKnight Management LP bought a new position in Energy Vault during the 4th quarter worth approximately $2,752,000. Millennium Management LLC grew its position in shares of Energy Vault by 122.5% in the 4th quarter. Millennium Management LLC now owns 1,442,399 shares of the company's stock worth $3,289,000 after acquiring an additional 794,253 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Energy Vault by 44.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 889,493 shares of the company's stock worth $2,028,000 after acquiring an additional 272,465 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Energy Vault in the 4th quarter valued at approximately $598,000. 40.03% of the stock is owned by institutional investors and hedge funds.

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.