Energy Vault (NYSE:NRGV) Issues Earnings Results

Energy Vault (NYSE:NRGV) released its quarterly earnings data on Tuesday. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.03), Zacks reports. Energy Vault had a negative net margin of 73.37% and a negative return on equity of 47.41%. The firm had revenue of $1.20 million for the quarter, compared to the consensus estimate of $4.80 million. During the same quarter in the prior year, the firm earned ($0.13) EPS.

Energy Vault Price Performance

Energy Vault stock traded down $0.12 during trading hours on Friday, reaching $1.55. The company had a trading volume of 451,711 shares, compared to its average volume of 839,336. The firm has a market cap of $232.49 million, a price-to-earnings ratio of -2.38 and a beta of 0.45. Energy Vault has a 12-month low of $0.78 and a 12-month high of $2.69. The company has a 50-day moving average price of $1.32 and a 200 day moving average price of $1.18.

Wall Street Analyst Weigh In

NRGV has been the subject of a number of analyst reports. Roth Mkm lowered their price target on Energy Vault from $2.50 to $2.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. TD Cowen reissued a “buy” rating and issued a $2.50 price objective on shares of Energy Vault in a report on Wednesday. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $1.95.

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.