Energy Vault (NYSE:NRGV – Get Rating) had its target price increased by The Goldman Sachs Group from $2.50 to $3.00 in a report published on Friday morning, Benzinga reports. The Goldman Sachs Group currently has a sell rating on the stock.
Other equities analysts have also issued research reports about the company. Guggenheim cut their target price on Energy Vault from $10.00 to $7.00 in a research note on Tuesday, November 15th. Cowen cut their target price on Energy Vault to $9.00 in a research note on Thursday, November 17th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $10.42.
Get Energy Vault alerts:Energy Vault Stock Performance
Shares of Energy Vault stock opened at $4.67 on Friday. Energy Vault has a 12 month low of $2.21 and a 12 month high of $22.10. The stock's fifty day moving average price is $3.44 and its 200-day moving average price is $4.39.
Energy Vault (NYSE:NRGV – Get Rating) last announced its quarterly earnings results on Monday, November 14th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.11). The firm had revenue of $1.69 million during the quarter, compared to analysts' expectations of $10.00 million. On average, equities research analysts forecast that Energy Vault will post -0.23 earnings per share for the current year.Institutional Investors Weigh In On Energy Vault
Several institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. boosted its holdings in Energy Vault by 8.6% in the second quarter. Goldman Sachs Group Inc. now owns 36,400 shares of the company's stock worth $365,000 after acquiring an additional 2,873 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in Energy Vault in the first quarter worth about $57,000. Alliancebernstein L.P. boosted its holdings in Energy Vault by 42.1% in the third quarter. Alliancebernstein L.P. now owns 16,200 shares of the company's stock worth $86,000 after acquiring an additional 4,800 shares in the last quarter. Strs Ohio acquired a new stake in Energy Vault in the second quarter worth about $59,000. Finally, Amalgamated Bank boosted its holdings in Energy Vault by 158.1% in the third quarter. Amalgamated Bank now owns 10,263 shares of the company's stock worth $54,000 after acquiring an additional 6,286 shares in the last quarter. Institutional investors and hedge funds own 36.38% of the company's stock.
Energy Vault Company Profile
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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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