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

Energy Vault (NYSE:NRGV) had its price objective decreased by The Goldman Sachs Group from $1.00 to $0.75 in a research report sent to investors on Wednesday morning,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the stock.

Separately, TD Cowen cut their target price on shares of Energy Vault from $2.50 to $2.00 and set a “buy” rating on the stock in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $1.70.

Energy Vault Stock Up 11.7 %

Shares of NYSE:NRGV opened at $1.01 on Wednesday. The business’s 50 day moving average is $1.59 and its 200 day moving average is $1.56. The stock has a market cap of $152.88 million, a P/E ratio of -1.55 and a beta of 0.45. Energy Vault has a 52-week low of $0.78 and a 52-week high of $2.70.

Energy Vault (NYSE:NRGV) last posted its quarterly earnings results 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). The firm had revenue of $38.95 million for the quarter, compared to the consensus estimate 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 anticipate that Energy Vault will post -0.64 EPS for the current fiscal year.

Institutional Investors Weigh In On Energy Vault

A number of hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers raised its holdings in Energy Vault by 4.9% in the fourth 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 raised its stake 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 worth $90,000 after acquiring an additional 7,100 shares in the last quarter. Root Financial Partners LLC lifted its position in Energy Vault by 35.0% during the fourth quarter. Root Financial Partners LLC now owns 30,404 shares of the company’s stock valued at $69,000 after acquiring an additional 7,876 shares during the last quarter. SG Americas Securities LLC boosted its stake in Energy Vault by 22.5% in the fourth quarter. SG Americas Securities LLC now owns 43,600 shares of the company’s stock valued at $99,000 after acquiring an additional 7,999 shares in the last quarter. Finally, Two Sigma Securities LLC grew its holdings in Energy Vault by 81.0% in the fourth quarter. Two Sigma Securities LLC now owns 22,303 shares of the company’s stock worth $51,000 after purchasing an additional 9,982 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

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.