Energy Vault Holdings, Inc. (NYSE:NRGV) has been assigned an average rating of “Hold” by analysts from six brokerages covering the firm. According to MarketBeat, three analysts have issued a sell rating, while an equal number have rated the stock as a buy. The average twelve-month target price for Energy Vault is currently set at $2.5925.
Recent reports highlight differing views among research firms regarding Energy Vault’s stock performance. On October 15, 2023, Zacks Research downgraded the stock from a “hold” rating to a “strong sell.” Meanwhile, the Goldman Sachs Group adjusted its price objective from $1.50 to $2.00, maintaining a “sell” rating. In contrast, Fundamental Research set a much more optimistic price target of $4.87 while issuing a “buy” rating on November 11, 2023. Additionally, Weiss Ratings reaffirmed a “sell (e+)” rating for Energy Vault on October 14, 2023.
Institutional Investor Activity
Recent movements among institutional investors have also influenced Energy Vault’s stock. In the third quarter, Platform Technology Partners initiated a new position valued at $40,000, while Banco BTG Pactual S.A. acquired shares worth $43,000. Ground Swell Capital LLC and Catalyst Funds Management Pty Ltd also bought new stakes valued at $26,000 and $36,000, respectively. XTX Topco Ltd completed a new investment in the second quarter worth approximately $39,000. Overall, institutional investors and hedge funds hold around 40.03% of Energy Vault’s stock.
Current Stock Performance
As of November 10, 2023, Energy Vault shares opened at $3.07. The stock has fluctuated between a 12-month low of $0.60 and a high of $4.85, with a market capitalization of $496.09 million. The company reported a price-to-earnings ratio of -3.23 and a beta of 0.94. Its 50-day moving average price stands at $3.18, while the 200-day moving average is $1.82. Financial metrics indicate a quick ratio of 0.66, a current ratio of 0.63, and a debt-to-equity ratio of 0.39.
Energy Vault’s recent earnings results, issued on November 10, 2023, revealed that the company reported an earnings per share (EPS) of ($0.16), falling short of the consensus estimate of ($0.10) by $0.06. The firm recorded a negative return on equity of 119.98% and a net margin of -172.61%. Revenue for the quarter came in at $33.32 million, significantly below the consensus estimate of $48.99 million. Analysts project that Energy Vault will post an EPS of ($0.64) for the current year, as the company sets its guidance for fiscal year 2025.
Energy Vault Holdings, Inc. specializes in developing and selling energy storage solutions. Its product lineup includes B-Vault, an electrochemical battery energy storage system designed for shorter-duration needs; G-Vault, a proprietary gravity energy storage solution; and H-Vault, which encompasses hybrid energy storage systems integrating green hydrogen technology.
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