Energy Vault (NYSE:NRGV) Receives “Buy” Rating from TD Cowen

TD Cowen restated their buy rating on shares of Energy Vault (NYSE:NRGV) in a research note published on Wednesday morning,Benzinga reports. The firm currently has a $2.50 price objective on the stock.

Separately, Roth Mkm cut their price objective on Energy Vault from $2.50 to $2.00 and set a “buy” rating on the stock in a 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 data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $1.95.

Energy Vault Stock Performance

Energy Vault stock opened at $1.46 on Wednesday. The company has a market cap of $219.71 million, a price-to-earnings ratio of -2.25 and a beta of 0.45. Energy Vault has a 1 year low of $0.78 and a 1 year high of $2.69. The firm has a 50 day moving average price of $1.33 and a 200 day moving average price of $1.18.

Energy Vault (NYSE:NRGV) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.03). 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 company earned ($0.13) earnings per share. Sell-side analysts predict that Energy Vault will post -0.6 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NRGV. DRW Securities LLC purchased a new stake in shares of Energy Vault in the third quarter worth about $31,000. SG Americas Securities LLC raised its holdings in shares of Energy Vault by 95.5% during the 3rd quarter. SG Americas Securities LLC now owns 35,601 shares of the company’s stock valued at $34,000 after buying an additional 17,388 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in Energy Vault during the 1st quarter worth approximately $91,000. Mesirow Financial Investment Management Inc. boosted its holdings in Energy Vault by 33.3% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 80,000 shares of the company’s stock worth $76,000 after acquiring an additional 20,000 shares during the period. Finally, Barclays PLC grew its position in Energy Vault by 225.2% in the third quarter. Barclays PLC now owns 143,759 shares of the company’s stock valued at $137,000 after acquiring an additional 99,550 shares in the last quarter. 40.03% of the stock is 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.