Energy Vault (NYSE:NRGV) Earns “Buy” Rating from TD Cowen

Energy Vault (NYSE:NRGV)‘s stock had its “buy” rating reissued by stock analysts at TD Cowen in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $2.50 target price on the stock. TD Cowen’s target price indicates a potential upside of 50.60% from the stock’s previous close.

Separately, Roth Mkm decreased their target price on shares of Energy Vault from $2.50 to $2.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $1.95.

Energy Vault Stock Performance

Shares of NRGV stock opened at $1.66 on Wednesday. The business has a 50-day moving average of $1.32 and a 200 day moving average of $1.18. Energy Vault has a 1-year low of $0.78 and a 1-year high of $2.84.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in Energy Vault by 17.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 242,541 shares of the company’s stock worth $434,000 after purchasing an additional 35,935 shares during the period. Vanguard Group Inc. increased its stake in shares of 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 acquiring an additional 43,764 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Energy Vault during the 1st quarter valued at about $91,000. Bank of New York Mellon Corp boosted its stake in Energy Vault by 21.8% during the second 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 in the last quarter. Finally, Mesirow Financial Investment Management Inc. boosted its position in shares of Energy Vault by 33.3% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 80,000 shares of the company’s stock worth $76,000 after purchasing an additional 20,000 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

About Energy Vault

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.