Energy Vault (NYSE:NRGV – Get Rating) had its price target cut by The Goldman Sachs Group from $2.50 to $2.00 in a research note issued to investors on Thursday, The Fly reports.
Other research analysts also recently issued research reports about the company. TD Cowen dropped their price target on Energy Vault from $9.00 to $6.50 and set an outperform rating for the company in a research note on Wednesday, March 8th. Guggenheim downgraded Energy Vault from a buy rating to a neutral rating in a research note on Monday, March 6th. Stifel Nicolaus dropped their price target on Energy Vault from $9.00 to $6.00 in a research note on Wednesday, March 15th. Finally, Chardan Capital dropped their price target on Energy Vault from $13.00 to $7.00 and set a buy rating for the company in a research note on Thursday, March 9th.
Get Energy Vault alerts:Energy Vault Price Performance
Shares of Energy Vault stock opened at $2.04 on Thursday. The firm has a 50-day moving average of $3.37 and a 200-day moving average of $3.69. Energy Vault has a 52-week low of $1.80 and a 52-week high of $22.10.
Energy Vault (NYSE:NRGV – Get Rating) last posted its quarterly earnings results on Tuesday, March 7th. The company reported ($0.17) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.09). The company had revenue of $100.32 million during the quarter. Energy Vault had a negative net margin of 53.67% and a negative return on equity of 19.42%. As a group, equities analysts forecast that Energy Vault will post -0.63 earnings per share for the current year.
Insiders Place Their Bets
In other Energy Vault news, CTO Andrea Pedretti sold 25,000 shares of the business's stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $2.16, for a total transaction of $54,000.00. Following the completion of the transaction, the chief technology officer now owns 1,101,982 shares of the company's stock, valued at $2,380,281.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Energy Vault news, CTO Andrea Pedretti sold 25,000 shares of the business's stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $2.16, for a total transaction of $54,000.00. Following the completion of the transaction, the chief technology officer now owns 1,101,982 shares of the company's stock, valued at $2,380,281.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert Piconi bought 66,000 shares of the stock in a transaction on Tuesday, March 14th. The shares were acquired at an average cost of $2.27 per share, with a total value of $149,820.00. Following the purchase, the chief executive officer now owns 6,403,192 shares of the company's stock, valued at approximately $14,535,245.84. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 100,000 shares of company stock valued at $368,000. 26.80% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Penserra Capital Management LLC acquired a new position in shares of Energy Vault in the first quarter valued at approximately $57,000. Covington Capital Management bought a new stake in Energy Vault in the third quarter valued at approximately $35,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Energy Vault in the third quarter valued at approximately $47,000. Allspring Global Investments Holdings LLC bought a new stake in Energy Vault in the third quarter valued at approximately $51,000. Finally, HighTower Advisors LLC bought a new stake in Energy Vault in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 36.38% of the company's stock.
About Energy Vault
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Energy Vault Holdings, Inc develops and sells energy storage solutions. The company offers gravity-based storage systems, including EVx Platform, a scalable, modular product line starting from 40-megawatt hour to multi-gigawatt hours to address grid resiliency needs in shorter durations; Energy Vault Resiliency Center, a scalable, gigawatt hour scale product line designed to address grid resiliency needs to manage energy disruptive climate events; and Energy Vault solutions.
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