Energy Vault (NYSE:NRGV) Price Target Cut to $3.00 by Analysts at Stifel Nicolaus

Energy Vault (NYSE:NRGV) had its price target cut by equities researchers at Stifel Nicolaus from $6.00 to $3.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 130.77% from the stock’s current price.

NRGV has been the topic of a number of other research reports. The Goldman Sachs Group decreased their target price on shares of Energy Vault from $1.70 to $1.50 and set a “sell” rating on the stock in a report on Friday, March 22nd. Roth Mkm started coverage on shares of Energy Vault in a report on Tuesday, January 16th. They set a “buy” rating and a $4.00 target price on the stock. Roth Capital reaffirmed a “buy” rating on shares of Energy Vault in a report on Tuesday, January 16th. Chardan Capital reissued a “sell” rating and issued a $0.75 price target (down previously from $7.00) on shares of Energy Vault in a report on Monday, April 8th. Finally, TD Cowen decreased their price target on shares of Energy Vault from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Wednesday, March 13th. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Energy Vault presently has an average rating of “Hold” and a consensus price target of $2.85.

Energy Vault Stock Up 3.2 %

NYSE NRGV opened at $1.30 on Tuesday. The company’s 50 day moving average is $1.58 and its 200-day moving average is $1.92. Energy Vault has a 12-month low of $1.05 and a 12-month high of $3.55. The firm has a market cap of $191.20 million, a P/E ratio of -1.91 and a beta of 0.58.

Energy Vault (NYSE:NRGV) last posted its quarterly earnings results on Tuesday, March 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.05). The business had revenue of $118.24 million during the quarter, compared to the consensus estimate of $122.05 million. Energy Vault had a negative net margin of 28.82% and a negative return on equity of 40.42%. Equities analysts expect that Energy Vault will post -0.34 EPS for the current year.

Insider Transactions at Energy Vault

In other news, CMO Laurence Alexander sold 20,385 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $1.64, for a total value of $33,431.40. Following the transaction, the chief marketing officer now owns 897,123 shares of the company’s stock, valued at approximately $1,471,281.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 77,966 shares of company stock valued at $124,984 in the last quarter. Insiders own 19.80% of the company’s stock.

Hedge Funds Weigh In On Energy Vault

Institutional investors and hedge funds have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale bought a new position in shares of Energy Vault during the 3rd quarter valued at $25,000. Bleakley Financial Group LLC bought a new position in shares of Energy Vault during the 4th quarter valued at $33,000. Simplicity Solutions LLC bought a new position in shares of Energy Vault during the 4th quarter valued at $33,000. First Citizens Bank & Trust Co. bought a new position in shares of Energy Vault during the 4th quarter valued at $37,000. Finally, Alpine Global Management LLC bought a new position in shares of Energy Vault during the 3rd quarter valued at $38,000. 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.