Energy Vault (NYSE:NRGV) Releases Earnings Results, Misses Expectations By $0.03 EPS

Energy Vault (NYSE:NRGV) issued its earnings results on Tuesday. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.03), Zacks reports. The firm had revenue of $1.20 million for the quarter, compared to analyst estimates of $4.80 million. Energy Vault had a negative return on equity of 47.41% and a negative net margin of 73.37%. During the same quarter in the previous year, the firm posted ($0.13) EPS.

Energy Vault Trading Down 8.7 %

Shares of NYSE NRGV traded down $0.15 during midday trading on Friday, reaching $1.52. 643,102 shares of the company were exchanged, compared to its average volume of 840,088. The stock has a fifty day simple moving average of $1.32 and a 200 day simple moving average of $1.18. The stock has a market cap of $227.98 million, a P/E ratio of -2.38 and a beta of 0.45. Energy Vault has a 1 year low of $0.78 and a 1 year high of $2.69.

Analyst Upgrades and Downgrades

NRGV has been the topic of a number of recent analyst reports. TD Cowen reiterated a “buy” rating and issued a $2.50 price objective on shares of Energy Vault in a report on Wednesday. Roth Mkm reduced 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 Thursday, August 8th. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $1.95.

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.