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

Posted by Erica Schwartz on Nov 15th, 2024

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

Energy Vault Trading Down 8.7 %

NYSE NRGV traded down $0.15 on Friday, reaching $1.52. 643,102 shares of the company were exchanged, compared to its average volume of 840,088. Energy Vault has a fifty-two week low of $0.78 and a fifty-two week high of $2.69. The stock has a market capitalization of $227.98 million, a P/E ratio of -2.38 and a beta of 0.45. The business’s fifty day moving average price is $1.32 and its 200 day moving average price is $1.18.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NRGV shares. TD Cowen reaffirmed a “buy” rating and issued a $2.50 price objective on shares of Energy Vault in a research note on Wednesday. Roth Mkm dropped their price objective on Energy Vault from $2.50 to $2.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $1.95.

Check Out Our Latest Stock Analysis on NRGV

About Energy Vault

(Get Free Report)

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.