Energy Vault (NYSE:NRGV) Given New $2.00 Price Target at TD Cowen

Energy Vault (NYSE:NRGV - Free Report) had its price objective decreased by TD Cowen from $2.50 to $2.00 in a research note issued to investors on Tuesday morning, MarketBeat reports. TD Cowen currently has a buy rating on the stock.

Energy Vault Stock Up 4.6 %

NYSE:NRGV traded up $0.04 during trading hours on Tuesday, hitting $0.95. 1,865,150 shares of the company's stock traded hands, compared to its average volume of 1,014,686. The firm 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 52 week low of $0.78 and a 52 week high of $2.70. The business's fifty day simple moving average is $1.54 and its two-hundred day simple moving average is $1.56.

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

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Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers boosted its position in shares of Energy Vault by 4.9% in the 4th quarter. Rhumbline Advisers now owns 146,881 shares of the company's stock worth $335,000 after purchasing an additional 6,851 shares in the last quarter. DRW Securities LLC lifted its holdings in shares of Energy Vault by 22.0% during the 4th quarter. DRW Securities LLC now owns 39,400 shares of the company's stock valued at $90,000 after buying an additional 7,100 shares during the period. Root Financial Partners LLC lifted its holdings in shares of Energy Vault by 35.0% during the 4th quarter. Root Financial Partners LLC now owns 30,404 shares of the company's stock valued at $69,000 after buying an additional 7,876 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Energy Vault by 22.5% during the 4th quarter. SG Americas Securities LLC now owns 43,600 shares of the company's stock valued at $99,000 after buying an additional 7,999 shares during the period. Finally, Two Sigma Securities LLC lifted its holdings in shares of Energy Vault by 81.0% during the 4th quarter. Two Sigma Securities LLC now owns 22,303 shares of the company's stock valued at $51,000 after buying an additional 9,982 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

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.