Energy Vault Holdings Inc. [NRGV] Stock trading around $2.95 per share: What’s Next?

Energy Vault Holdings Inc. [NYSE: NRGV] stock went on a downward path that fall over -4.84% on Wednesday, amounting to a one-week price decrease of less than -8.95%. The company report on March 7, 2023 that Energy Vault Reports Fourth Quarter 2022 Earnings Results.

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Financial Highlights.

Fourth quarter 2022 revenue of $100.3 million, driven by the Company’s gravity energy storage territory expansion and execution ahead of schedule on a California 275MWh storage project with expected COD in July 2023.

Over the last 12 months, NRGV stock dropped by -75.84%. The one-year Energy Vault Holdings Inc. stock forecast points to a potential upside of 65.97. The average equity rating for NRGV stock is currently 1.80, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $387.84 million, with 140.30 million shares outstanding and 109.49 million shares in the current float. Compared to the average trading volume of 1.54M shares, NRGV stock reached a trading volume of 3094523 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 $8.67 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 1.80. 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.

Guggenheim have made an estimate for Energy Vault Holdings Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 06, 2023. While these analysts kept the previous recommendation, Chardan Capital Markets raised their target price to Buy. The new note on the price target was released on June 29, 2022, representing the official price target for Energy Vault Holdings Inc. stock. Previously, the target price had yet another raise to $22, while Guggenheim analysts kept a Buy rating on NRGV stock.

The Average True Range (ATR) for Energy Vault Holdings Inc. is set at 0.37, with the Price to Sales ratio for NRGV stock in the period of the last 12 months amounting to 8.51. The Price to Book ratio for the last quarter was 1.38, with the Price to Cash per share for the same quarter was set at 1.90.

NRGV Stock Performance Analysis:

Energy Vault Holdings Inc. [NRGV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.95. With this latest performance, NRGV shares dropped by -33.41% in over the last four-week period, additionally sinking by -38.92% over the last 6 months – not to mention a drop of -75.84% 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 34.92, with the RSI for the last a single of trading hit 28.54, and the three-weeks RSI is set at 39.58 for Energy Vault Holdings Inc. [NRGV]. The present Moving Average for the last 50 days of trading for this stock 3.74, while it was recorded at 3.11 for the last single week of trading, and 5.43 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 Current Ratio set at 9.60.

Energy Vault Holdings Inc. [NRGV] Insider Position Details

There are presently around $147 million, or 40.90% 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 0% of the company’s market cap and around 5.90% of the total institutional ownership; PRIME MOVERS LAB LLC, holding 7,552,864 shares of the stock with an approximate value of $22.28 million in NRGV stocks shares; and BLACKROCK INC., currently with $13.63 million in NRGV stock with ownership of nearly 29.966% of the company’s market capitalization.

Positions in Energy Vault Holdings Inc. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 67 institutional holders increased their position in Energy Vault Holdings Inc. [NYSE:NRGV] by around 5,966,996 shares. Additionally, 29 investors decreased positions by around 2,832,278 shares, while 16 investors held positions by with 40,918,498 shares. The mentioned changes placed institutional holdings at 49,717,772 shares, according to the latest SEC report filing. NRGV stock had 27 new institutional investments in for a total of 1,266,479 shares, while 15 institutional investors sold positions of 2,072,592 shares during the same period.


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