Energy Vault (NYSE:NRGV) Price Target Cut to $0.75 by Analysts at The Goldman Sachs Group

Energy Vault (NYSE:NRGV - Get Free Report) had its price target reduced by stock analysts at The Goldman Sachs Group from $1.00 to $0.75 in a report released on Wednesday,Benzinga reports. The firm currently has a "sell" rating on the stock. The Goldman Sachs Group's price target points to a potential downside of 21.38% from the company's previous close.

Separately, TD Cowen decreased their price target on shares of Energy Vault from $2.50 to $2.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $1.60.

Energy Vault Stock Performance

Shares of NYSE:NRGV traded up $0.04 during midday trading on Wednesday, hitting $0.95. The company's stock had a trading volume of 1,865,150 shares, compared to its average volume of 1,016,631. The business's 50 day simple moving average is $1.54 and its 200 day simple moving average is $1.56. The company has a market cap of $145.12 million, a P/E ratio of -1.47 and a beta of 0.45. Energy Vault has a 12-month low of $0.78 and a 12-month high of $2.70.

Energy Vault (NYSE:NRGV - Get Free Report) last posted its quarterly earnings results on Monday, March 17th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.21). The business had revenue of $38.95 million during the quarter, compared to analysts' expectations of $42.51 million. Energy Vault had a negative return on equity of 47.41% and a negative net margin of 73.37%. On average, sell-side analysts predict that Energy Vault will post -0.64 earnings per share for the current fiscal year.

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Hedge Funds Weigh In On Energy Vault

Institutional investors have recently bought and sold shares of the company. Truist Financial Corp purchased a new position in Energy Vault during the fourth quarter worth about $27,000. Virtu Financial LLC acquired a new stake in shares of Energy Vault during the fourth quarter valued at about $27,000. Atala Financial Inc acquired a new stake in shares of Energy Vault during the fourth quarter valued at about $31,000. Shepherd Kaplan Krochuk LLC acquired a new stake in shares of Energy Vault during the fourth quarter valued at about $31,000. Finally, PFG Investments LLC acquired a new stake in shares of Energy Vault during the fourth quarter valued at about $42,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Energy Vault Company Profile

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.