Energy Vault (NYSE:NRGV) Announces Quarterly Earnings Results, Misses Expectations By $0.03 EPS

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

Energy Vault Trading Down 6.9 %

Shares of NYSE NRGV traded down $0.12 during mid-day trading on Friday, reaching $1.55. 436,829 shares of the company’s stock were exchanged, compared to its average volume of 839,138. The firm has a 50-day moving average price of $1.32 and a two-hundred day moving average price of $1.18. Energy Vault has a 52 week low of $0.78 and a 52 week high of $2.69.

Wall Street Analyst Weigh In

NRGV has been the topic of several recent research reports. Roth Mkm cut their target price on Energy Vault from $2.50 to $2.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. TD Cowen restated a “buy” rating and set a $2.50 price objective on shares of Energy Vault in a research report on Wednesday. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target 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.