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

Energy Vault (NYSE:NRGV) had its price objective lowered by equities research analysts at The Goldman Sachs Group from $1.00 to $0.75 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “sell” rating on the stock. The Goldman Sachs Group’s target price points to a potential downside of 16.39% from the stock’s current price.

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

Energy Vault Price Performance

NRGV traded down $0.00 on Wednesday, hitting $0.90. The company had a trading volume of 178,348 shares, compared to its average volume of 1,028,881. Energy Vault has a 52-week low of $0.78 and a 52-week high of $2.70. The stock has a fifty day simple moving average of $1.61 and a 200-day simple moving average of $1.56. The firm has a market capitalization of $136.45 million, a P/E ratio of -1.38 and a beta of 0.45.

Energy Vault (NYSE:NRGV) last announced its earnings results on Monday, March 17th. The company reported ($0.35) earnings per share 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 business had revenue of $38.95 million for the quarter, compared to the consensus estimate of $42.51 million. Equities research analysts expect that Energy Vault will post -0.64 earnings per share for the current fiscal year.

Institutional Trading of Energy Vault

Institutional investors and hedge funds have recently bought and sold shares of the stock. Invesco Ltd. increased its holdings in shares of Energy Vault by 15,519.9% in the 4th quarter. Invesco Ltd. now owns 2,675,226 shares of the company’s stock worth $6,100,000 after buying an additional 2,658,099 shares during the last quarter. CastleKnight Management LP bought a new stake in shares of Energy Vault in the 4th quarter worth about $2,752,000. Millennium Management LLC increased its holdings in shares of Energy Vault by 122.5% in the 4th quarter. Millennium Management LLC now owns 1,442,399 shares of the company’s stock worth $3,289,000 after buying an additional 794,253 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Energy Vault by 44.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 889,493 shares of the company’s stock worth $2,028,000 after buying an additional 272,465 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Energy Vault in the 4th quarter worth about $598,000. 40.03% of the stock is currently owned by institutional investors.

Energy Vault Company Profile

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.