Energy Vault Holdings Inc. [NRGV] Stock trading around $5.27 per share: What’s Next?

Energy Vault Holdings Inc. [NYSE: NRGV] stock went on a downward path that fall over -4.36% on Thursday, amounting to a one-week price increase of more than 16.34%. The company report on September 28, 2022 that JUPITER POWER AND ENERGY VAULT SIGN LETTER OF INTENT TO SECURE 2.4 GWh OF DOMESTIC-CONTENT-QUALIFIED BATTERY ENERGY STORAGE SYSTEMS.

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Jupiter Power LLC (“Jupiter Power” or “Jupiter”), the leading United States developer and operator of utility-scale, battery energy storage systems (“BESS”), today announced the execution of an agreement with Energy Vault Holdings Inc. (NYSE: NRGV) (“Energy Vault”), a leader in sustainable, grid-scale energy storage solutions. Under this agreement, Jupiter Power and Energy Vault will expeditiously collaborate to secure 2.4 GWh of supply chain equipment and services that will be integrated and delivered through Energy Vault’s hardware and software management platform in Jupiter Power’s battery energy storage projects.

Jupiter Power and Energy Vault are committed to supporting U.S. based manufacturing for use in Jupiter’s BESS projects across the United States electric markets including ERCOT, MISO, CAISO, PJM, NYISO, and ISO-NE. The projects are expected to reach commercial operations in 2024 and 2025.

Over the last 12 months, NRGV stock dropped by -46.66%. The one-year Energy Vault Holdings Inc. stock forecast points to a potential upside of 53.36. The average equity rating for NRGV stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $736.85 million, with 133.78 million shares outstanding and 105.77 million shares in the current float. Compared to the average trading volume of 842.80K shares, NRGV stock reached a trading volume of 2923400 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Energy Vault Holdings Inc. [NRGV]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NRGV shares is $11.30 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NRGV stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Chardan Capital Markets have made an estimate for Energy Vault Holdings Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 29, 2022. While these analysts kept the previous recommendation, Guggenheim raised their target price to Buy. The new note on the price target was released on March 22, 2022, representing the official price target for Energy Vault Holdings Inc. stock. Previously, the target price had yet another raise to $9, while Goldman analysts kept a Sell rating on NRGV stock.

The Average True Range (ATR) for Energy Vault Holdings Inc. is set at 0.47, with the Price to Sales ratio for NRGV stock in the period of the last 12 months amounting to 16.78. The Price to Book ratio for the last quarter was 2.30, with the Price to Cash per share for the same quarter was set at 2.14.

NRGV Stock Performance Analysis:

Energy Vault Holdings Inc. [NRGV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 16.34. With this latest performance, NRGV shares gained by 1.93% in over the last four-week period, additionally sinking by -65.26% over the last 6 months – not to mention a drop of -46.66% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NRGV stock in for the last two-week period is set at 55.63, with the RSI for the last a single of trading hit 61.97, and the three-weeks RSI is set at 50.49 for Energy Vault Holdings Inc. [NRGV]. The present Moving Average for the last 50 days of trading for this stock 4.92, while it was recorded at 5.11 for the last single week of trading, and 9.92 for the last 200 days.

Insight into Energy Vault Holdings Inc. Fundamentals:

Return on Equity for this stock declined to -2.48, with Return on Assets sitting at -2.32.

Energy Vault Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 44.00 and a Current Ratio set at 44.00.

Energy Vault Holdings Inc. [NRGV] Insider Position Details

There are presently around $196 million, or 36.00% of NRGV stock, in the hands of institutional investors. The top three institutional holders of NRGV stocks are: SB INVESTMENT ADVISERS (UK) LTD with ownership of 18,535,631, which is approximately New of the company’s market cap and around 7.20% of the total institutional ownership; PRIME MOVERS LAB LLC, holding 7,462,364 shares of the stock with an approximate value of $39.33 million in NRGV stocks shares; and BLACKROCK INC., currently with $10.72 million in NRGV stock with ownership of nearly New of the company’s market capitalization.

Positions in Energy Vault Holdings Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 58 institutional holders increased their position in Energy Vault Holdings Inc. [NYSE:NRGV] by around 27,146,434 shares. Additionally, 26 investors decreased positions by around 1,999,995 shares, while 5 investors held positions by with 7,971,177 shares. The mentioned changes placed institutional holdings at 37,117,606 shares, according to the latest SEC report filing. NRGV stock had 45 new institutional investments in for a total of 25,757,536 shares, while 17 institutional investors sold positions of 1,041,733 shares during the same period.


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