Energy Vault Holdings Inc. (NYSE: NRGV) stock fell -1.36% on Monday to $2.91 against a previous-day closing price of $2.95. With 0.96 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.03 million shares. During the session, the Utilities – Renewable company that operates in wider Utilities sector, reached to the highest price of $3.0950 whereas the lowest price it dropped to was $2.9050. The 52-week range on NRGV shows that it touched its highest point at $6.72 and its lowest point at $1.35 during that stretch. It currently has a 1-year price target of $6.75. Beta for the stock currently stands at 0.24.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NRGV was down-trending over the past week, with a drop of -4.28%, but this was up by 1.04% over a month. Three-month performance surged to 7.38% while six-month performance rose 31.67%. The stock lost -33.10% in the past year, while it has lost -6.73% so far this year. A look at the trailing 12-month EPS for NRGV yields -0.78 with Next year EPS estimates of -0.38. For the next quarter, that number is -0.15. This implies an EPS growth rate of -177.80% for this year and 44.90% for next year.
Float and Shares Shorts:
At present, 142.76 million NRGV shares are outstanding with a float of 114.16 million shares on hand for trading. On Aug 30, 2023, short shares totaled 11.14 million, which was 7.80% higher than short shares on Jul 30, 2023. In addition to Mr. Robert Allen Piconi as the firm’s Co-Founder, Chairman & CEO, Mr. William T. Gross serves as its Co-Founder & Independent Director.
Institutional Ownership:
Through their ownership of 38.51% of NRGV’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 8.73% of NRGV, in contrast to 32.07% held by mutual funds. Shares owned by individuals account for 12.08%. As the largest shareholder in NRGV with 4.03% of the stake, BlackRock Fund Advisors holds 5,756,470 shares worth 5,756,470. A second-largest stockholder of NRGV, SailingStone Capital Partners LLC, holds 4,743,105 shares, controlling over 3.32% of the firm’s shares. Invesco Capital Management LLC is the third largest shareholder in NRGV, holding 3,920,410 shares or 2.74% stake. With a 2.52% stake in NRGV, the Invesco WilderHill Clean Energy E is the largest stakeholder. A total of 3,599,532 shares are owned by the mutual fund manager. The Victory Global Energy Transition, which owns about 2.19% of NRGV stock, is the second-largest Mutual Fund holder. It holds 3,128,546 shares valued at 9.98 million. iShares Russell 2000 ETF holds 1.58% of the stake in NRGV, owning 2,252,741 shares worth 7.19 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, NRGV reported revenue of $977.00k and operating income of -$21.97M. The EBITDA in the recently reported quarter was -$20.54M and diluted EPS was -$0.05.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NRGV since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With NRGV analysts setting a high price target of $13.00 and a low target of $1.75, the average target price over the next 12 months is $6.75. Based on these targets, NRGV could surge 346.74% to reach the target high and fall by -39.86% to reach the target low. Reaching the average price target will result in a growth of 131.96% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded NRGV stock several times over the past three months with 0 Buys and 12 Sells. In these transactions, 0 shares were bought while 68,372 shares were sold. The number of buy transactions has increased to 25 while that of sell transactions has risen to 63 over the past year. The total number of shares bought during that period was 3,215,905 while 2,241,080 shares were sold.
