Energy Vault (NYSE:NRGV) Price Target Cut to $1.50 by Analysts at Roth Mkm

Energy Vault (NYSE:NRGV) had its target price decreased by Roth Mkm from $2.50 to $1.50 in a research note published on Thursday morning,Benzinga reports. Roth Mkm currently has a buy rating on the stock.

Other research analysts have also issued reports about the stock. 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 report on Tuesday. The Goldman Sachs Group lowered their price objective on shares of Energy Vault from $1.00 to $0.75 and set a “sell” rating for the company in a report on Wednesday. Two analysts have rated the stock with a sell rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $1.60.

Energy Vault Price Performance

NRGV opened at $0.91 on Thursday. The stock’s 50 day simple moving average is $1.56 and its 200 day simple moving average is $1.56. The firm has a market cap of $138.58 million, a price-to-earnings ratio of -1.40 and a beta of 0.45. Energy Vault has a 1 year low of $0.78 and a 1 year high of $2.70.

Energy Vault (NYSE:NRGV) last released its quarterly earnings data on Monday, March 17th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $38.95 million during the quarter, compared to analysts’ expectations of $42.51 million. As a group, sell-side analysts anticipate that Energy Vault will post -0.64 EPS for the current year.

Hedge Funds Weigh In On Energy Vault

Several hedge funds have recently modified their holdings of the stock. Truist Financial Corp purchased a new position in Energy Vault during the fourth quarter valued at $27,000. Barclays PLC grew its position in shares of Energy Vault by 225.2% during 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 in the last quarter. State Street Corp increased its holdings in shares of Energy Vault by 1.1% in the third quarter. State Street Corp now owns 1,850,702 shares of the company’s stock worth $1,777,000 after purchasing an additional 20,915 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Energy Vault by 8.5% in the third quarter. Geode Capital Management LLC now owns 2,273,042 shares of the company’s stock worth $2,182,000 after buying an additional 177,214 shares in the last quarter. Finally, PFG Investments LLC bought a new position in Energy Vault during the fourth quarter valued at approximately $42,000. 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.