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

Energy Vault (NYSE:NRGV) had its price target reduced by research analysts at Stifel Nicolaus from $6.00 to $3.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 130.77% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. TD Cowen lowered 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. 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 target price (down previously from $7.00) on shares of Energy Vault in a report on Monday, April 8th. Roth Mkm started coverage on shares of Energy Vault in a report on Tuesday, January 16th. They issued a “buy” rating and a $4.00 target price on the stock. Finally, The Goldman Sachs Group lowered 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. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Energy Vault presently has a consensus rating of “Hold” and a consensus price target of $2.85.

Energy Vault Price Performance

Shares of NYSE:NRGV opened at $1.30 on Tuesday. Energy Vault has a 1-year low of $1.05 and a 1-year high of $3.55. The company has a market capitalization of $191.20 million, a P/E ratio of -1.91 and a beta of 0.58. The firm’s 50 day simple moving average is $1.58 and its two-hundred day simple moving average is $1.92.

Energy Vault (NYSE:NRGV) last issued its quarterly earnings results on Tuesday, March 12th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.05). Energy Vault had a negative net margin of 28.82% and a negative return on equity of 40.42%. The firm had revenue of $118.24 million for the quarter, compared to analysts’ expectations of $122.05 million. On average, sell-side analysts anticipate that Energy Vault will post -0.34 earnings per share for the current fiscal year.

Insider Transactions at Energy Vault

In other news, CMO Laurence Alexander sold 20,385 shares of the business’s 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 $1,471,281.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 77,966 shares of company stock valued at $124,984. 19.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Energy Vault

Large investors have recently bought and sold shares of the business. SG Americas Securities LLC increased its position in Energy Vault by 28.5% in the fourth quarter. SG Americas Securities LLC now owns 54,009 shares of the company’s stock worth $126,000 after purchasing an additional 11,992 shares during the last quarter. Bleakley Financial Group LLC bought a new stake in Energy Vault in the fourth quarter worth $33,000. Simplicity Solutions LLC bought a new stake in Energy Vault in the fourth quarter worth $33,000. Alpine Global Management LLC bought a new stake in Energy Vault in the third quarter worth $38,000. Finally, First Citizens Bank & Trust Co. bought a new stake in Energy Vault in the fourth quarter worth $37,000. 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.