TD Cowen Reaffirms “Buy” Rating for Energy Vault (NYSE:NRGV)

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

Separately, Roth Mkm lowered their target price on shares of Energy Vault from $2.50 to $2.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $1.95.

Energy Vault Stock Performance

Shares of Energy Vault stock opened at $1.52 on Wednesday. The stock has a market capitalization of $228.70 million, a P/E ratio of -2.19 and a beta of 0.45. Energy Vault has a 52-week low of $0.78 and a 52-week high of $2.84. The stock’s 50-day simple moving average is $1.31 and its 200 day simple moving average is $1.17.

Hedge Funds Weigh In On Energy Vault

A number of hedge funds and other institutional investors have recently bought and sold shares of NRGV. Vanguard Group Inc. lifted its position in Energy Vault by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 1,675,361 shares of the company’s stock worth $2,999,000 after buying an additional 43,764 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Energy Vault by 21.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 341,909 shares of the company’s stock worth $325,000 after acquiring an additional 61,135 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Energy Vault by 17.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 242,541 shares of the company’s stock valued at $434,000 after purchasing an additional 35,935 shares in the last quarter. XTX Topco Ltd grew its holdings in shares of Energy Vault by 684.0% during the 2nd quarter. XTX Topco Ltd now owns 173,016 shares of the company’s stock valued at $164,000 after purchasing an additional 150,948 shares during the last quarter. Finally, Green Alpha Advisors LLC raised its position in Energy Vault by 62.3% in the 3rd quarter. Green Alpha Advisors LLC now owns 158,171 shares of the company’s stock worth $152,000 after purchasing an additional 60,725 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Energy Vault Company Profile

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.