Energy Vault (NYSE:NRGV) PT Set at $8.03 by Fundamental Research

Energy Vault (NYSE:NRGV) received a $8.03 target price from investment analysts at Fundamental Research in a research report issued to clients and investors on Tuesday, August 18th, BayStreet reports. The firm presently has a “buy” rating on the stock. Fundamental Research’s price objective points to a potential upside of 112.15% from the company’s previous close.

NRGV has been the topic of a number of other research reports. Zacks Research raised Energy Vault from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $7.00 price objective on shares of Energy Vault in a research note on Wednesday, August 12th. Roth Capital reissued a “buy” rating and issued a $7.00 price target (up from $5.00) on shares of Energy Vault in a report on Wednesday, August 12th. Weiss Ratings lowered Energy Vault from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 12th. Finally, Citigroup raised shares of Energy Vault from a “neutral” rating to a “buy” rating and lowered their target price for the company from $5.25 to $5.00 in a research note on Wednesday, July 22nd. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Energy Vault presently has a consensus rating of “Hold” and an average price target of $6.01.

Energy Vault Trading Down 3.9%

NRGV traded down $0.16 during trading on Tuesday, reaching $3.79. 662,060 shares of the company’s stock were exchanged, compared to its average volume of 4,493,698. The stock has a market capitalization of $688.26 million, a PE ratio of -5.75 and a beta of 1.25. Energy Vault has a one year low of $2.50 and a one year high of $6.64. The firm has a fifty day moving average price of $3.76 and a two-hundred day moving average price of $4.02. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 24.07.

Energy Vault (NYSE:NRGV) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). Energy Vault had a negative return on equity of 236.83% and a negative net margin of 48.58%.The firm had revenue of $17.37 million during the quarter, compared to analyst estimates of $14.24 million. As a group, equities research analysts forecast that Energy Vault will post -0.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Energy Vault news, Director Dylan Hixon bought 27,472 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were bought at an average price of $3.88 per share, for a total transaction of $106,591.36. Following the transaction, the director directly owned 27,472 shares in the company, valued at $106,591.36. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephanie Unwin sold 115,000 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $3.71, for a total value of $426,650.00. Following the transaction, the director directly owned 182,245 shares in the company, valued at $676,128.95. This trade represents a 38.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 17.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Energy Vault during the 2nd quarter valued at $52,657,000. Legal & General Group Plc bought a new stake in shares of Energy Vault in the second quarter worth about $25,508,000. J. Goldman & Co LP purchased a new position in Energy Vault during the 2nd quarter valued at about $7,085,000. UBS Group AG raised its position in Energy Vault by 940.1% during the 4th quarter. UBS Group AG now owns 1,541,087 shares of the company’s stock valued at $7,104,000 after purchasing an additional 1,392,923 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Energy Vault in the 2nd quarter worth approximately $2,703,000. Institutional investors own 40.03% of the company’s stock.

Energy Vault Company Profile

Energy Vault Holdings, Inc (NYSE: NRGV) develops and deploys long-duration energy storage systems designed to help utilities, renewable energy developers and industrial customers store electricity and improve grid reliability. Its solutions are intended to complement intermittent renewable power sources such as wind and solar by storing energy when supply is abundant and releasing it when demand is higher.

The company’s portfolio includes gravity-based energy storage systems, which use mechanical structures and heavy materials to store and release energy, as well as battery energy storage solutions.